Surebridge Names Chairman and CEO
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Surebridge Inc., a Lexington, Mass.-based ASP, yesterday announced that its board of directors has appointed Peter J. Boni to the position of chairman and CEO. Boni had been serving as vice chairman and interim CEO of company since March.
Surebridge reports that during his tenure, Boni established Surebridge's five-part strategy to take the company to its next level of growth, and the company achieved profitability in its second quarter, becoming EBITDA and cash flow positive (see Surebridge Finds Profits in Mid-market).
"Under his guidance during the last six months, Surebridge has confirmed its industry leadership by achieving profitability despite a challenging environment in IT services. The strategic initiatives that he is putting into action are expected to drive Surebridge growth over the next several years," said Al Dobron, Providence Equity Partners and member of the Surebridge board of directors.
Other Surebridge investors include Spectrum Equity Investors, The Goldman Sachs Group, Thomas H. Lee Partners, The Berkshire Group, Axxon Capital and Hewlett-Packard.
"The outsourcing industry is a dynamic market with tremendous opportunity, particularly in the mid-market space," Boni said. "Surebridge has steadfastly managed the growth of its business of providing quality solutions to middle market companies, which has been integral to its achieving profitability."
Boni succeeds Surebridge founders Pradeep Khurana, former chairman, and Stephanie Khurana, former CEO, both of whom remain on the company's board.
Surebridge is listed by ASPnews as a Top 20 Service Provider.
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