Elona Mortimer-Zhika to Step Down as IRIS Software CEO in 2025
Portfolio - People | Dec 18, 2024 | PR Newswire Cision IRIS Software Group
IRIS Software Group has announced a significant leadership transition with CEO Elona Mortimer-Zhika stepping down at the start of 2025. After nearly ten years with the company, Mortimer-Zhika plans to focus on family and philanthropic endeavors while taking on board responsibilities. Her tenure saw IRIS expanding into new markets and transitioning to a cloud-based SaaS platform, tripling in size and completing notable acquisitions, including the recent acquisition of Dext. The sale of IRIS to Hg, Leonard Green & Partners, and Intermediate Capital Group valued the company at approximately $4 billion. As Mortimer-Zhika prepares to leave, IRIS has launched an executive search for a new global CEO based in the U.S. to continue its ambitious growth and expansion plans. Interim CEO responsibilities will be handled by Gus Malezis, the current executive chairman.
Sectors
- Software and Technology
- Private Equity
Geography
- United Kingdom – IRIS Software Group is headquartered in the UK, and Elona Mortimer-Zhika's transition is from a UK-based role.
- United States – The new CEO is planned to be U.S.-based, indicating strategic growth plans focusing on the U.S. market.
- Global – IRIS operates in multiple countries, including significant expansions in the U.S., Canada, India, Ireland, and Romania.
Industry
- Software and Technology – IRIS Software Group operates in the software industry providing cloud-based software solutions, focusing on sectors like HR, payroll, accountancy, and education management.
- Private Equity – The transition follows a significant investment from private equity firms like Hg and Leonard Green & Partners.
Financials
- $4 billion – Estimated valuation of IRIS Software Group following its acquisition by Hg, Leonard Green & Partners, and Intermediate Capital Group.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| IRIS Software Group | Target Company | Company | A global provider of cloud-based software solutions for accountancy, education management, HR, and payroll. |
| Elona Mortimer-Zhika | Departing CEO | Person | Current CEO of IRIS Software Group, transitioning out of her role in 2025. |
| Gus Malezis | Interim CEO | Person | Executive Chairman appointed as interim CEO of IRIS during the leadership transition. |
| Hg | Investor | Company | Major investor in IRIS, involved in the recent sale of the business. |
| Leonard Green & Partners, L.P. | Investor | Company | Part of the investment group involved in acquiring IRIS Software Group. |
| Intermediate Capital Group | Investor | Company | Part of the investment group involved in acquiring IRIS Software Group. |
| Dext | Acquired Company | Company | Recently acquired company that added significantly to IRIS's growth. |
| Nic Humphries | Board Member | Person | Board member for IRIS and senior partner at Hg, providing commentary on the leadership transition. |