Guy Gecht, EFI's longest-serving CEO, has announced he will step down after 19 years at the helm of the digital printing giant. He will stay on until the Board decides upon a successor.
In a statement, Gecht said his decision had not been an easy one, but he believed it was the best time to go, and will remain on the Board of Directors following the handover. “Stepping down as the leader of a great company is never an easy decision. With vast market opportunities, loyal customers and a robust product roadmap, reinforced by the unprecedented interest in Nozomi, EFI has never been better positioned for continued growth and success,” he said. “I think this makes it the right time, after 19 years as CEO of this unique company, for me to hand the reins to the next leader.
"As a shareholder, Board member and a lifelong fan, nothing will be more gratifying for me than to see my successor leading EFI to achieve its full potential.”
Gecht was only the third CEO in EFI's thirty-year history, and Gill Cogan, Chairman of the Board, said he had brought a 'unique stability' to the company. "Together with his team, Guy transformed EFI from a single product line and OEM business model to a diverse, worldwide leader driving the transition from analog to on-demand digital imaging in industries that touch our lives every day," said Cogan. "He led the expansion into Productivity Software and Industrial Inkjet, which drove EFI’s rapid growth to over $1 billion in annual revenues.
"As a global company with industry-leading technology and products, there is an unmatched opportunity for a new CEO to lead the charge in the years ahead."
Gecht's decision comes off the back of a record second-quarter revenue of $261.1 million USD ($352.4 million AUD) in 2018, up six percent compared to second quarter 2017 revenue of $247.0 million USD ($333.4 million AUD). The EFI Board has hired executive search firm Spencer Stuart to find Gecht's successor from a pool of internal and external candidates.