Sprinklr has announced the appointment of Trac Pham as the interim Chief Operating Officer (COO), contributing to cross-functional alignment in all aspects of business operations and planning decisions.
Pham's association with Sprinklr began in June 2023 when he joined the company's Board of Directors and Audit Committee. While maintaining his position on Sprinklr's Board, Pham, during his term as interim COO, will not be involved in any independent committees of the Board, including the Audit Committee.
“Sprinklr has a compelling strategy and vision and has navigated through significant transitions from its roots in social media, the evolution across digital platforms, to being the only unified-CXM platform. I am excited by that vision and what it has achieved, the customers it serves, and the size of this market opportunity. I look forward to contributing to Sprinklr’s growth and scale opportunity with an immediate focus on operational strategy,” said Pham.
Having retired as Chief Financial Officer (CFO) at Synopsys in 2022, Pham brings a wealth of experience. During his tenure at Synopsys, he played a pivotal role in overseeing Finance, Strategy, Corporate Business Development, and Information Technology. His strategic insights and operational expertise were instrumental in scaling Synopsys from $2.0B to $5.1B in revenue. In addition to his role as CFO, he served as the strategic and operating partner to the co-CEO/Founder and co-CEO/President.
“As Sprinklr continues on our growth and scale journey, we must have world-class operational processes to support and enable our teams. Trac has been an invaluable and active member of our board, providing thoughtful counsel on our direction and alignment. He is a strategic thinker and communicates with clarity about goals and desired outcomes. We share strong convictions about our long-term unified-CXM vision and believe Sprinklr can become the most-loved enterprise software company. I am excited and humbled to work in partnership with Trac and have him join our executive team,” said Sprinklr Founder and CEO, Ragy Thomas.
In addition to his focus on operations, Pham will play a critical role in helping Sprinklr to recruit a permanent President and Chief Operating Officer.
Buying back $100 million
Sprinklr has disclosed that its Board of Directors has greenlit a stock repurchase initiative, allowing the company to buy back up to $100 million worth of its Class A common stock. The repurchases will be executed through open market transactions, with a strategic approach taken to align with the company's best interests and those of its shareholders. This decision, shaped by economic considerations and prevailing market conditions, underscores Sprinklr's robust financial position and cash flow generation.
The buy-back program is designed to provide flexibility for ongoing investments in key strategic endeavors while simultaneously enhancing shareholder value through capital returns. The company aims to conclude the stock repurchase program within 2024.
In other news, Sprinklr has unveiled Conversational AI+ as part of its Release 18.11 in Sprinklr Service, allowing businesses to rapidly implement and expand generative AI-driven bots capable of engaging in text and voice conversations that closely mimic human interactions.
