Hemant Shah has stepped down from his role as Chief Executive Officer of catastrophe risk modelling and analytics specialist RMS, to be replaced by ex-Oracle executive Karen White.
Shah co-founded RMS in 1989, forming the company as a spin out from an academic project at Stanford University, and has led the firm ever since as it became one of the leading providers of catastrophe risk analysis tools for the insurance and reinsurance industry.
His influence has helped to change the way the insurance and reinsurance industry utilises technology and analytics.
Karen White began her career in Silicon Valley in 1993 working as a senior executive at Oracle and reporting to Larry Ellison. She has worked for more than 25 years as a technology sector executive and investor, most recently holding senior executive positions at SolarWinds, Syncplicity and Addepar.
She has a track record in taking companies through growth and helping them to execute IPO’s, acquisitions and other transformational corporate moves. She also formed her own venture capital firm in 2000, investing in a number of Silicon Valley start-ups which were almost all acquired.
Paul Zwillenberg, CEO of RMS parent company DMGT, commented, “This is the perfect time to appoint Karen White, a highly-respected and seasoned Silicon Valley executive, as the Chief Executive Officer of RMS. As digitization transforms the market for risk analysis, prediction and management, RMS is uniquely positioned to advance its leadership in the space and enter new markets. Karen has a proven track record of adapting companies to market changes to drive growth and operational effectiveness at scale.
“I would also like to thank Hemant Shah, a pioneer in the industry, for his vision and dedication, growing RMS into a global leader since co-founding the company nearly 30 years ago.”
Karen White added, “The market for risk analysis, prediction and management is evolving and dynamic. This is an exciting and important time for RMS. Recent catastrophes have shown that RMS solutions are more important than ever. We have the deepest bench of top talent in the industry, and a breadth of products, innovations and customer relationships that is unmatched. I’m thrilled to be joining this world-class team as we continue to innovate, grow and help lead the next wave of transformation.”
Read one of our interviews with Hemant Shah: