ServiceSource (SREV -9.1%) shares have taken a beating after the company announced yesterday afternoon that VP of Sales John Boucher will resign.
The customer success and outside sales units will be consolidated and led by VP of Customer Success Jack Ackerman. VP of Global Sales Execution and Solution Design Tom Bonos will run outside sales and report to Ackerman.
Northland Securities is optimistic on Boucher's replacement, and thinks the shake-up is a near-term headwind, with ServiceSource well-positioned going forward. The firm has an Outperform rating on SREV shares.
ServiceSource International Inc is engaged in recurring revenue management with technology and technology-enabled companies to optimize maintenance, support and subscription revenue streams, while also improving customer relationships and loyalty.