Veracode has appointed Simon Adell as its new Chief Financial Officer. The global leader in application risk management said that this represents a significant milestone. As the company targets its next milestone for strategic growth. It does not, however, indicate what that milestone is!
Adell replaces David Forlizzi, who left in November 2024 and is now the CFO at Salsify. The appointment is the latest hire by Brian Roche, who became President and Chief Executive Officer in April 2024. He already appointed Katie Kulikoski as Chief People Officer, David Wigglesworth as Chief Revenue Officer, and Karen Buffo as Chief Marketing Officer. Buffo has already completed a brand refresh.
Adell will lead the finance function and will be responsible for all financial operations, including strategic planning and financial reporting. He will support the firm’s continued growth initiatives. His appointment comes at a time when Veracode is experiencing strong momentum in the application risk management market and expanding its global footprint.
Roche said, “We are thrilled to welcome Simon to the team at a pivotal time for our business. With deep expertise in strategic financial planning, he has an impressive record of success in scaling high-growth technology companies and driving operational excellence.
“We are expanding our leadership with bold action as we build our future. And I look forward to working closely with Simon and the team as we continue to shape the application risk management market and drive Veracode’s growth.”
Who is Simon Adell
Adell joins from DataCamp, where he held the CFO role. He spent nearly 8 years at Triplelift, most of which as CFO, seeing them through their acquisition by Vista Equity Partners in 2021. Adell was previously CFO at Knoa Software, iLevel Solutions, and Covarity and an interim CFO at Juice Energy.
He held other senior finance roles in other organisations in a career that has spanned two decades as a finance leader. He has overseen organisations through rapid expansion, and it appears to be that experience that Roche intends to leverage.
Adell holds a Master of Business Administration from the Ivey Business School at Western University and a Bachelor of Economics from Queen’s University. He also maintains both Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA) designations, demonstrating his expertise in accounting and financial analysis.
Adell commented, “I’m excited to join the talented team at Veracode. It’s a phenomenal company with market-leading solutions and exceptional people. I’ve begun immersing myself in the business and am actively engaging with the teams, and I can already anticipate an enriching and rewarding journey ahead as we work together to drive continued success.”
Enterprise Times: What does this mean
Roche has found a finance leader who has experience working with a large investment firm. The current majority shareholder is TA Associates. Which invested in the company in 2022, replacing Thoma Bravo as the majority shareholder. In the last year, the firm has replaced the majority of the C-suite, with Roche and no doubt TA Associates influencing this, as they look to accelerate growth.
It seems too early for a new investment round. And it will be interesting to see whether TA Associates back further acquisitions. Or whether the firm targets a more organic growth strategy. As 2025 unfolds, it will be interesting to see what growth strategy Roche pursues and how Adell supports that growth.
