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ON THE MOVE ACCRUENT STRENGTHENS LEADERSHIP FOR NEXT CHAPTER OF GROWTH: NEW CHIEF TECHNOLOGY OFFICER, DAVID MCCANN; JOHN BORGERDING NOW CEO Accruent , the world’s largest provider of asset, facilities and real estate management solutions, announced its new chief technology officer, David McCann, as well as the promotion of John Borgerding to chief executive officer. Mark Friedman, founder and former CEO, will serve as chairman of the board. John Borgerding joined Accruent in January as president. As CEO, he will continue to lead operations and drive the mission of the company. John has over 20 years of technology experience including his most recent positions as president and COO of Websense, CEO of SumTotal Systems and EVP of global services for Ventyx. As chairman of the board, Mark Friedman will continue to work closely with John on setting the vision and strategy of the business. As chief technology officer, David will lead Accruent’s engineering, product, support and technology teams. “I’m thrilled to be part of a company that’s embarking on a new period of innovation and growth,” said David McCann, CTO, Accruent. “Real estate and facilities are strategic drivers in organizations and Accruent is well-position to continue its leadership in the market for many years to come.” David brings nearly two decades of technology experience directing enterprise product,

engineering, services and support organizations, and has successfully led technology teams at high-growth companies. Previously, David was the CTO of CLEAResult where he was instrumental in the rapid growth of the company both organically and via acquisition, unifying the technology product strategy and positioning the company for further growth as the leader in the energy efficiency space. Prior to that, he co-founded and was CTO of Bloomfire, and served as vice president of global technical services at LifeSize Communications. “David is the ideal executive to lead our technology efforts,” said John Borgerding, CEO, Accruent. “He has a proven track record delivering innovation at companies like Accruent that grow both organically and through acquisitions.” “In reflecting on the milestone of our recent 20-year anniversary, I couldn’t be more pleased with the progress Accruent has made in defining and leading the real estate and facilities software industry,” said Mark Friedman, chairman of the board, Accruent. “The addition of world- class talent like John and David is very exciting as we begin the next chapter in advancing our products and scaling the company internationally.”

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MARK ZWEIG, from page 1

❚ ❚ You are probably expected to bring in work. Most people don’t get this title unless the others in charge think they can sell new work. There are a few exceptions – princi- pal CFOs or perhaps a “Grand Wazu” of some technical or design specialty. But mostly, principals are those who are doing the selling. As such, you better be selling. ❚ ❚ You will be the one to make sacrifices if they have to be made. If it all gets ugly and the firm starts losing money and has to make adjustments beyond cutting the obvious dead wood from the ranks – the next place is principal pay. Get ready to cut it if neces- sary to keep the firm on a sound financial footing. It will probably be necessary at some point, even if only perks and not base pay. ❚ ❚ You have to groom your successor. The name of the game is continuity. It is also about being able to move up into a higher level role. So that means a big part of your responsibility to the enterprise is to find who will replace you when you move on or move up. It’s a real simple idea but about half or more of the principals I have observed over 36 years in this industry don’t do it. ❚ ❚ You have to be a decent person to everyone in the firm. This means you can’t berate people publicly, lord your title over them, or in general be a jerk. It also means you need to treat everyone in the firm as if they are important and worthy, not just your fellow principals or “partners” as some principals insist on calling themselves (I don’t like that term for a variety of reasons!) So there’s a lot to this “principal” moniker. Do your principals share a common understanding of what the title should mean in your firm?

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MARK ZWEIG is Zweig Group’s founder and CEO. Contact him at mzweig@zweiggroup.com.

THE ZWEIG LETTER November 14, 2016, ISSUE 1176

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