Guidewire Software appoints David Peterson as principal accounting officer

Guidewire Software (ETR:SOWGn), Inc. (NYSE:GWRE) announced that effective Thursday, its board of directors appointed David Peterson as the company’s principal accounting officer. Peterson, age 64, has served as Guidewire’s chief accounting officer since May 2020 and previously held the role of corporate controller from July 2018 to May 2020.

Before joining Guidewire, Peterson worked as a consulting external chief financial officer to various entities from November 2016 to June 2018. He was the chief financial officer of Keynote Systems, Inc. from January 2014 to October 2015, and also held positions as chief accounting officer and corporate controller at Keynote Systems from July 2009 to December 2013. Peterson holds a Bachelor of Science in Accounting from Oklahoma State University and is a Certified Public Accountant.

According to the company, there are no arrangements or understandings between Peterson and any other persons regarding his appointment. The filing also states that Peterson has no family relationships with any director, executive officer, or nominee for such positions at Guidewire.

No new compensation arrangements have been established in connection with Peterson’s new role. His current compensation will continue, including an annual base salary of $310,000 and eligibility for an annual cash bonus targeted at 50% of his base salary. Peterson has previously received time-based and performance-based restricted stock units under Guidewire’s stock plans.

Peterson has entered into the company’s standard executive and indemnification agreements.

This information is based on a press release statement included in Guidewire Software’s filing with the Securities and Exchange Commission.

In other recent news, Guidewire is approaching a significant revenue milestone, with JPMorgan maintaining its Overweight rating and a price target of $288. The company is expected to exceed $1 billion in annual recurring revenue next month, marking a major achievement. Additionally, Guidewire’s Marketplace has surpassed 20,000 partner integration downloads, showcasing a 32% year-over-year growth. The platform now hosts over 290 integrations, making it the largest in the property and casualty insurance industry.

Guidewire has also announced the release of Docusign integration for its PolicyCenter and ClaimCenter platforms, aiming to digitize agreement workflows for insurers. This new solution enables electronic signatures, potentially achieving more than 80% straight-through processing of documents. Furthermore, Guidewire introduced a subscription service offering insurers faster access to pre-approved risk scores through Milliman Appleseed. This service is designed to reduce regulatory hurdles in implementing new risk assessment tools. These developments highlight Guidewire’s ongoing efforts to innovate and expand its offerings in the insurance software sector.

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