Five9 appoints SolarWinds CEO Ramakrishna to board as Welsh retires

SAN RAMON, Calif. - Five9, Inc. (NASDAQ:FIVN), a cloud software provider with a market capitalization of $1.87 billion and robust revenue growth of 14.2% over the last twelve months, has appointed Sudhakar Ramakrishna to its Board of Directors effective September 26, 2025, according to a company press release. Simultaneously, Lead Independent Director David Welsh is retiring after more than 14 years of service.

Ramakrishna, who currently serves as Chief Executive Officer and President of SolarWinds Corporation, brings nearly 25 years of leadership experience in the technology sector with expertise in cybersecurity, enterprise software, and IT infrastructure. According to InvestingPro analysis, Five9 maintains a healthy financial position with a strong current ratio of 4.44 and operates with a moderate level of debt.

The new board member will serve as a Class II director with a term expiring at the company’s 2028 annual meeting of stockholders. He will also join the Nominating and Governance Committee of the Board.

"Sudhakar brings a rare blend of enterprise software leadership, cybersecurity, and IT infrastructure expertise, and boardroom experience that will be a tremendous benefit to Five9," said Mike Burkland, Chairman and CEO of Five9.

Following Welsh’s departure, the Board has appointed Robert Zollars as the new Lead Independent Director. Welsh had served on Five9’s Board since January 2011.

Five9 provides an Intelligent CX Platform used by organizations to manage customer experiences. The company serves approximately 3,000 customers and works with 1,400 partners globally, according to the statement. With a gross profit margin of 55.3% and current trading levels suggesting potential upside according to InvestingPro’s Fair Value analysis, Five9 demonstrates strong fundamentals. Discover more insights and 12 additional ProTips about Five9 with an InvestingPro subscription, including detailed valuation metrics and growth forecasts.

In other recent news, Five9 Inc. reported its second-quarter earnings for 2025, presenting mixed financial results. The company fell short of earnings per share (EPS) expectations but surpassed revenue forecasts, which has captured the attention of investors. Additionally, Five9 announced that CEO Mike Burkland plans to retire, though he will remain as Executive Chairman of the Board of Directors. A search for his successor is underway, with the company aiming to appoint a new CEO by the end of 2025.

In other developments, DA Davidson has maintained its Neutral rating and $28 price target on Five9, reflecting a cautious outlook on the company’s future. This decision follows discussions about the company’s growth prospects as artificial intelligence continues to impact the contact center industry. These recent developments provide investors with insights into Five9’s current trajectory and strategic changes.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.