or 100 people, as it sought to improve efficiencies. During the summer, board advisers John Ruffolo and Paul McFeeters formally left their roles, as well as corporate secretary and senior vice-president of legal Paula Pepin.
The Globe reported last month that Mr. Holmes’s departure followed months of tense board discussions about whether he was still the right person to lead the company after prospective buyers raised concerns about some of Hootsuite’s performance metrics, and customer and employee churn. “Hootsuite is Ryan Holmes; it was his vision from day one,” Mr. Seghal said.
In his resignation note to shareholders last month, Mr. Holmes highlighted the fact the company had surpassed US$200-million in annual recurring revenue, reached profitability and that changes to sales and marketing teams had prompted a 20 per cent increase in contract values and improved retention rates.In an interview, Mr.
“The business is in a healthy state ... growing profitably," he said."There are very few companies that are doing that at our size, scale and international footprint.” One insider said Mr. Twinney’s departure in particular had shaken staff as he was seen as a key “change agent” internally. “I think we’ll see some profound instability for awhile until a professional CEO is hired,” the source said.Hootsuite was born 11 years ago from Mr. Holmes’s internet services and marketing consultancy, Invoke Media.
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