Clarivate Plc Appoints Matti Shem Tov as New CEO

Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, has announced that its Board has appointed Matti Shem Tov, former CEO of ProQuest, as the company’s next CEO, effective August 9, 2024. In addition to his role as CEO, Shem Tov will join Clarivate’s Board of Directors. Jonathan Gear, the current Chief Executive Officer, will step down from his role and the Board, transitioning to a non-executive role until November 1, 2024. The appointment of Matti Shem Tov followed a process led by the Board of Directors and supported by Heidrick & Struggles, a global executive search firm.

Andy Snyder, Chairman of the Clarivate Board, remarked that both the Board and Jonathan Gear had mutually decided it was the right time for new leadership to propel Clarivate into the next phase of its value-creation journey. Snyder expressed gratitude for Gear’s contributions, noting that under his leadership, Clarivate restructured into three end-market segments, revitalized product innovation investments, attracted top talent to the leadership team, and strengthened the company’s balance sheet. These efforts have positioned Clarivate to utilize the distinct expertise within its business segments to deliver tailored solutions to customers globally. Snyder conveyed confidence in the company’s ability to drive organic growth with its solid foundation and ongoing investments in product innovation.

Snyder also expressed his pleasure in welcoming Matti Shem Tov back to Clarivate, emphasizing Shem Tov’s deep expertise in product innovation and market delivery. The Board believes that Shem Tov’s extensive leadership experience makes him well-suited to partner with Clarivate’s management team and lead the company into a new phase of accelerated organic growth.

Matti Shem Tov brings over 30 years of global leadership experience, with deep expertise in software, data, analytics, and driving innovation and growth. From June 2022 to March 2024, Shem Tov served as an operating partner at Lone View Capital, a private equity firm. Prior to that, he was the CEO of ProQuest LLC from September 2017 to June 2022, including a period following Clarivate’s acquisition of ProQuest in December 2021. From 2003 to 2017, Shem Tov was President and CEO of Ex Libris Ltd., where he led the development of cloud-based software solutions for academic, national, and research institutions. Before joining Ex Libris, he served as President of Surecomp Limited, a global software company specializing in commercial banking solutions. Shem Tov holds a Bachelor of Arts and a Master of Business Administration from Bar-Ilan University.

Matti Shem Tov stated that he was pleased to join Clarivate as its next CEO. He voiced respect for Clarivate’s mission of advancing innovation through research and knowledge sharing to tackle complex global challenges. Shem Tov looked forward to working closely with the global team and customers to accelerate growth, enhance product innovation, and drive value creation for stakeholders.

Jonathan Gear reflected on his tenure, expressing pride in the achievements made with his dedicated team. He highlighted the progress in managing and integrating Clarivate’s portfolio while supporting customers and partners. Gear acknowledged that after thorough discussions with the Board, it was the right time for this leadership transition. He expressed confidence in Clarivate’s strong future and looked forward to supporting the company in his upcoming non-executive role.

In a separate announcement, Clarivate reported its results for the second quarter ended June 30, 2024. The company planned a conference call and webcast at 9:00 a.m. Eastern Time to review the quarterly results and discuss the leadership changes.

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