Minneapolis-based Qumu Corp. has named a veteran technology executive, TJ Kennedy, as its new president and chief executive.
Minneapolis virtual technology business names new CEO after breakout Q2
Qumu named as CEO TJ Kennedy, who most recently ran a Duluth technology company.
July 18, 2020 at 2:44AM
Kennedy joins Qumu as the small public company is on the cusp of becoming a player in the work-from-home and virtual business field, providing a platform that helps companies create, manage, secure, distribute and measure the success of live and on-demand video.
Companies have turned to Qumu recently to help manage the rapid rise in Zoom, Teams and other videoconferencing meetings as companies across industries have managed work-from-home practices created because of the coronavirus pandemic.
Earlier this week, the company announced preliminary results for its second quarter ended June 30. The company expects revenue to be $9.3 million in the quarter, up more than 70% from the $5.4 million it recorded in the same period last year. Official second-quarter results will be released July 28.
The company attributed the growth to several COVID-19-related sales, it said in a news release earlier this week.
"I am excited to join the Qumu team at such an inflection point in the enterprise video space," Kennedy said in a Friday statement. "I look forward to helping organizations across the globe address the new normal for their employees as well as facilitating the paradigm shift happening with video communication in companies worldwide."
Kennedy has worked at tech startups and Fortune 500 companies. He was most recently CEO of Allerio Inc., a Duluth telemedicine company that serves public safety agencies.
Kennedy replaces Vern Hanzlik, who has served as Qumu's CEO for more than five years. The company said Hanzlik is stepping down to pursue other interests.
"Vern has transformed Qumu's software platform into what it is today: an award-winning, globally recognized, end-to-end solution for securely creating, managing and delivering live and on-demand video across any organization at scale," said Neil Cox, the company's board chairman.
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