LogMeIn Announces CEO Transition
BOSTON, Jan. 06, 2022 (GLOBE NEWSWIRE) — LogMeIn, Inc., a leading provider of cloud-based solutions such as LastPass, GoToConnect, GoToMeeting and Rescue, today announced that Mike Kohlsdorf will join the company as CEO, succeeding Bill Wagner, who decided to step down after nine years with the organization. Under Wagner’s leadership, LogMeIn expanded to become one of the top 10 largest scale SaaS companies and a driving force behind today’s work-from-anywhere movement. Wagner will support Kohlsdorf in an advisory capacity through the end of the month to ensure a smooth leadership transition.
“It has been a privilege to lead LogMeIn through its remarkable journey over the last nine years, and I am incredibly proud of our team, our culture and our portfolio of category-defining products that have helped millions of users navigate this remote work era,” said Wagner. “I’ve had the pleasure of working closely with Mike Kohlsdorf as a member of the Board of Directors and have enjoyed our close collaboration in partnership with Francisco Partners. I’m confident his leadership and expertise will position LogMeIn to further accelerate growth and meet the evolving needs of our customers.”
“As LogMeIn enters this next chapter, we are excited to welcome Mike Kohlsdorf as CEO of the company,” said Andrew Kowal, Partner at Francisco Partners. “Mike brings a distinguished track record with over three decades of experience driving strategic growth, expanding product innovation and improving operational processes across technology companies.”
“We also want to thank Bill Wagner for his dedicated leadership of LogMeIn, driving a number of seminal transactions and growing revenues from approximately $140 million to over $1.3 billion during his tenure as CEO,” continued Kowal. “Bill has been instrumental in scaling LogMeIn’s solutions to meet the needs of today’s modern workforce, and we are grateful for his contributions and partnership over the course of our ownership.”
Kohlsdorf, President of Francisco Partners Consulting, has served on the LogMeIn Board of Directors since August 2020 and brings more than 30 years of experience in executive management roles in public and privately held technology companies. He has served as an Operating Partner with Francisco Partners since 2011, leading Francisco Partners Consulting since its inception, and has successfully served as CEO of six Francisco Partners portfolio companies. Most recently, he served as the CEO of Quest Software, a global systems management and security software provider.
“I am excited to be joining LogMeIn and look forward to building on the company’s success in developing communications, collaboration and support products that companies and customers all across the world rely on to help them stay connected,” said Kohlsdorf. “Working closely with LogMeIn’s executive team, we’ll continue to stay at the forefront of evolving work trends and further accelerate the company’s long-term growth and leadership as a best-in-class software solutions provider.”
About LogMeIn, Inc.
LogMeIn, Inc.’s category-defining products, such as LastPass, GoToConnect, GoToMeeting, Rescue and more, unlock the potential of the modern workforce by making it possible for millions of people and businesses around the globe to do their best work simply and securely—on any device, from any location and at any time. A pioneer in remote work technology and a driving force behind today’s work-from-anywhere movement, LogMeIn has become one of the world’s largest SaaS companies with tens of millions of active users, more than 3,500 global employees, over $1.3 billion in annual revenue and approximately 2 million customers worldwide who use its software as an essential part of their daily lives. The company is headquartered in Boston, Massachusetts with additional locations in North America, South America, Europe, Asia, Australia, and thousands of home offices around the globe.