Elona Mortimer-Zhika Steps Down as CEO of IRIS Software
Portfolio - People | Dec 19, 2024 | Business Cloud

Elona Mortimer-Zhika, after serving as CEO of IRIS Software for nearly a decade, is stepping down to focus on family, philanthropic activities, and board roles in the UK. Under her leadership, IRIS saw significant growth, including a transition to a cloud-based SaaS model, a tripling in size, and expanded operations in the Americas. Her recently completed achievements include leading a $4 billion transaction, overseeing IRIS's acquisition of Dext, which significantly expanded the company's revenue, and enhancing customer satisfaction metrics. She will be succeeded in the interim by executive chairman Gus Malezis, as the company searches for a US-based global CEO to guide its further expansion. Her tenure is noted for its emphasis on cultural and employee development, highlighted by an increase in female representation within the firm. As IRIS strategizes for global expansion, Mortimer-Zhika leaves the company in a strong position for future growth.
Sectors
- Software and Technology
- Private Equity
- Human Resources and Recruitment
Geography
- United Kingdom – IRIS Software is headquartered in Slough, UK, and Elona Mortimer-Zhika emphasizes focus on UK-based board roles post-resignation.
- United States – IRIS Software is searching for a US-based global CEO as part of its global expansion strategy.
Industry
- Software and Technology – IRIS Software operates within the software industry providing cloud solutions for accountancy, HR, and payroll, contributing to this sector with its comprehensive platform offerings.
- Private Equity – The involvement of entities like Hg, Leonard Green & Partners, and Intermediate Capital Group in IRIS's $4bn valuation transaction exemplifies the private equity activity in this scenario.
- Human Resources and Recruitment – The article focuses on leadership changes and recruitment for the CEO position, significant HR activities highlighting this as a relevant sector.
Financials
- 500m+ – The reported amount involved in IRIS Software's acquisition of Dext.
- 4bn – The valuation of IRIS Software in the transaction led by Hg, Leonard Green & Partners, and Intermediate Capital Group.
Participants
Name | Role | Type | Description |
---|---|---|---|
Elona Mortimer-Zhika | Outgoing CEO | Person | Former CEO of IRIS Software, instrumental in company growth and strategic transactions. |
Gus Malezis | Interim CEO | Person | Executive chairman of IRIS Software, appointed interim CEO following Mortimer-Zhika's departure. |
IRIS Software | Target Company | Company | A UK-based company providing accountancy, HR, and payroll solutions, undergoing leadership transition. |
Hg | Private Equity Firm | Company | One of the PE firms involved in the $4 billion valuation transaction of IRIS Software. |
Leonard Green & Partners, L.P. | Private Equity Firm | Company | Participated in the $4 billion transaction with IRIS Software. |
Intermediate Capital Group | Private Equity Firm | Company | Collaborated in the $4 billion IRIS Software deal. |
Dext | Acquired Company | Company | Bookkeeping platform recently acquired by IRIS Software, adding significant revenue increases. |