Coleman to Lead Day-to-Day Business
Operations
Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital
transformation solutions for banking and lending, today announced
that Kirk Coleman has been promoted to President. In this role,
Coleman will lead sales, marketing, product, engineering and
operations for the company. He will continue to report directly to
Matt Flake, Q2’s Chief Executive Officer.
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Kirk Coleman was promoted to President of
Q2 Holdings. (Photo: Business Wire)
Coleman has over 30 years of experience in the banking sector,
most recently serving as Q2’s Chief Banking Officer since December
2021. He previously served as a senior executive with a regional
bank for five years, where he was responsible for service,
operations, technology and strategic planning. Prior to that, he
had a successful 20-year career at Accenture serving in increasing
roles of responsibility, including as managing director, devoting a
majority of his time to developing and managing banking clients,
with specialization in core banking and digital transformation.
“Kirk brings a wealth of experience, expertise and leadership to
our executive team,” said Q2 CEO Matt Flake. “This business has
always been built on innovating, delivering and supporting great
products for our customers, and Kirk's deep understanding of the
financial services industry and banking operations make him the
perfect candidate to drive those aspects of our business day to
day.”
The addition of a dedicated President role, formerly held in
conjunction with the CEO role by Flake, is designed to provide
focused leadership for both operational and strategic functions of
the business, and to deepen Q2’s executive talent. Flake will
continue as CEO and a member of the board, focused on fostering
Q2’s culture, guiding its strategic direction, and leading
conversations with customers, prospects, and investors.
“I’m honored for the opportunity to lead this talented and
passionate team,” Coleman said. “Having been a Q2 customer, I know
firsthand that Q2 has the right talent, technology and vision to
help financial institutions transform their businesses and serve
their communities. I believe we have a tremendous opportunity to
grow this business and I'm excited to execute on our strategy.”
These changes take effect immediately.
About Q2 Holdings, Inc.
Q2 is a financial experience company dedicated to providing
digital banking and lending solutions to banks, credit unions,
alternative finance, and fintech companies in the U.S. and
internationally. With comprehensive end-to-end solution sets, Q2
enables its partners to provide cohesive, secure, data-driven
experiences to every account holder – from consumer to small
business and corporate. Headquartered in Austin, Texas, Q2 has
offices throughout the world and is publicly traded on the NYSE
under the stock symbol QTWO. To learn more, please visit
Q2.com.
Forward-looking Statements
This press release contains forward-looking statements,
including statements about: Coleman’s qualities and abilities; the
purpose and benefits of the President and CEO functions; Q2’s
talent, technology and vision and its ability to help financial
institutions and transform their businesses and communities ; and
Q2’s opportunity and strategy for growth. The forward-looking
statements contained in this press release are based upon Q2’s
historical performance and its current plans, estimates, and
expectations and are not a representation that such plans,
estimates or expectations will be achieved. Factors that could
cause actual results to differ materially from those described
herein include risks related to: uncertainties in the banking and
financial services industries, including as a result of recent bank
failures, and the potential impacts on Q2’s customers' prospects
and Q2’s business sales cycles, Q2’s prospects' and customers'
spending decisions, including professional services which are more
discretionary in nature, and the timing of customer implementation
and purchasing decisions; (b) the risk of increased or new
competition in Q2’s existing markets and as Q2 enter new markets or
new sections of existing markets, or as Q2 offer new solutions; (c)
the risks associated with the development of Q2’s solutions and
changes to the market for Q2’s solutions compared to Q2’s
expectations; (d) quarterly fluctuations in Q2’s operating results
relative to Q2’s expectations and guidance and the accuracy of Q2’s
forecasts; (e) the risks associated with anticipated higher
operating expenses in 2023 and beyond; (f) the impact that
inflation, rising interest rates, an economic stagnation or
slowdown in the economy, or challenges in the financial services
industry, financial markets and credit markets have had to date or
in the future could have on account holder or end user, or End
User, usage of Q2’s solutions, including the promotion and adoption
of Q2’s Helix and payment solutions, and on Q2’s customers'
prospects and Q2’s business sales cycles, Q2’s prospects' and
customers' spending decisions, including professional services
which are more discretionary in nature, and the timing of customer
implementation and purchasing decisions; (g) the risks and
increased costs associated with managing growth and the challenges
associated with improving operations and hiring, retaining and
motivating employees to support such growth, particularly in light
of the macroeconomic impacts of the novel coronavirus disease, or
COVID-19, including increased employee turnover, labor shortages,
wage inflation and extreme competition for talent; (h) the risk
that the residual impacts of the COVID-19 pandemic and the
associated efforts to limit its spread continue to negatively
impact or disrupt the markets for Q2’s solutions and that the
markets for Q2’s solutions do not return to normal or grow as
anticipated; (i) the risks associated with Q2’s transactional
business which are typically driven by end-user behavior which can
be influenced by external drivers outside of Q2’s control; (j) the
risks associated with effectively managing Q2’s cost structure in
light of the challenging macroeconomic environment, challenges in
the financial services industry and from the effects of seasonal or
other unexpected trends; (k) the risks associated with the general
economic and geopolitical uncertainties, including the heightened
risk of state-sponsored cyberattacks on financial services and
other critical infrastructure, and continued or increased inflation
partially driven by increased energy costs or other unpredictable
economic impacts that have and may continue to negatively affect
demand for Q2’s solutions; (l) the risks associated with managing
Q2’s business in response to continued challenging macroeconomic
conditions, challenges in the financial services industry and any
anticipated or resulting recession; (m) the risks associated with
accurately forecasting and managing the impacts of any
macroeconomic downturn or challenges in the financial services
industry on Q2’s customers and their end users, including in
particular the impacts of any downturn on financial technology
companies, or FinTechs, or alternative finance companies, or
Alt-FIs, and Q2’s arrangements with them, which represent a newer
market opportunity for us, a more complex revenue model for us and
which may be more vulnerable to an economic downturn than Q2’s
financial institution customers; (n) the challenges and costs
associated with selling, implementing and supporting Q2’s
solutions, particularly for larger customers with more complex
requirements and longer implementation processes, including risks
related to the timing and predictability of sales of Q2’s solutions
and the impact that the timing of bookings may have on Q2’s revenue
and financial performance in a period; (o) the risk that errors,
interruptions or delays in Q2’s solutions or Web hosting negatively
impacts Q2’s business and sales; (p) the risks associated with
cyberattacks, data and privacy breaches and breaches of security
measures within Q2’s products, systems and infrastructure or the
products, systems and infrastructure of third parties upon which Q2
relies and the resultant costs and liabilities and harm to Q2’s
business and reputation and Q2’s ability to sell Q2’s solutions;
(q) the difficulties and risks associated with developing and
selling complex new solutions and enhancements with the technical
and regulatory specifications and functionality required by Q2’s
customers and relevant governmental authorities; (r) regulatory
risks, including risks related to evolving regulation of artificial
intelligence, or AI, machine learning and the receipt, collection,
storage, processing and transfer of data; (s) the risks associated
with Q2’s sales and marketing capabilities, including partner
relationships and the length, cost and unpredictability of Q2’s
sales cycle; (t) the risks inherent in third-party technology and
implementation partnerships that could cause harm to Q2’s business;
(u) the risk that Q2 will not be able to maintain historical
contract terms such as pricing and duration; (v) the general risks
associated with the complexity of Q2’s customer arrangements and
Q2’s solutions; (w) the risks associated with integrating acquired
companies and successfully selling and maintaining their solutions;
(x) litigation related to intellectual property and other matters
and any related claims, negotiations and settlements; (y) the risks
associated with further consolidation in the financial services
industry; (z) the risks associated with selling Q2’s solutions
internationally and with recent expansion of Q2’s international
operations; and (aa) the risk that Q2’s debt repayment obligations
may adversely affect Q2’s financial condition and cash flows from
operations in the future and that Q2 may not be able to obtain
capital when desired or needed on favorable terms.
Additional information relating to the uncertainty affecting the
Q2 business is contained in Q2’s filings with the Securities and
Exchange Commission. These documents are available on the SEC
Filings section of the Investor Relations section of Q2’s website
at http://investors.Q2.com/. These forward-looking statements
represent Q2’s expectations as of the date of this press release.
Subsequent events may cause these expectations to change, and Q2
disclaims any obligations to update or alter these forward-looking
statements in the future, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230503005802/en/
MEDIA CONTACT: Jean Kondo Q2 Holdings, Inc. M:
+1-510-823-4728 jean.kondo@Q2.com
INVESTOR CONTACT: Josh Yankovich Q2 Holdings, Inc. O:
+1-512-682-4463 josh.yankovich@Q2.com
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