New Sitecore CEO sees a tectonic shift in the market
Steve Tzikakis is looking for behavioral change and increased brand awareness for the CMS and commerce leader.
Brands that have not been digital-first are rethinking their strategy. Brands with a digital footprint are seeking to expand it. “This is a tectonic shift in the market,” said Steve Tzikakis, former SAP executive, who was today appointed CEO of the CMS and commerce platform Sitecore.
“Manufacturing, heavy assets, retail, healthcare—which is at the epicenter of everything that’s happening—banking.” These verticals are undergoing, or accelerating, digital transformation, Tzikakis told us, and they are core verticals for Sitecore.
A ‘billion-dollar company.’ “I believe Sitecore is a category leader that hasn’t had the opportunity to take the next step,” he told us. “We now need to become a ‘billion-dollar company.’ That’s not so much a financial objective, it’s more a behavioral change. The pace with which we release products, the integration of our products, the level of service we provide to our customers, how we operate with our partners and taking advantage of our biggest asset, our own employees.”
Brand awareness. The behavioral change, Tzikakis said, would need to be “portrayed to the market.” Rated a leader in digital experience platforms by Gartner, and consistently performing well in analyst assessments of web CMS—and with clients like Procter & Gamble and Subway—it’s understandable that Sitecore is seeking to raise its profile. “Sitecore has probably the most enviable customer set in the space, with a 95% retention rate,” said Tzikakis. “What I think we’re missing is brand awareness and global reach.”
Tzikakis comes to Sitecore from more than 12 years at SAP, where he filled a variety of leadership roles, including responsibility for emerging markets, covering about 85 countries.
Outgoing CEO Mark Frost will continue in an advisory role.
Why we care. Leading vendors in the CMS and commerce space see major opportunities as digital engagement accelerates, even across verticals which previously were in-person-first. This move by Sitecore seems well-suited to raise the company’s global profile.