In July 2016, Petuum was birthed to accelerate and simplify AI solutions for better decision-making and improved productivity in enterprises. In the three and a half years since co-founding Petuum, I’ve been proud to watch our organization grow and evolve.
Today marks a new phase for me and the company. I have decided to transition from my current role as CEO in order to focus on my continuing role for the company as Chief Scientist. I will also continue to serve as Executive Chairman of our board of directors.
While this decision is difficult for any founder, leadership changes are a natural evolution for many startups as they mature. This transition is to allow me to focus more on technology and product advancement, which has always been my passion. It will also allow the company to benefit from new leadership and fresh ideas.
Petuum has been on an incredible journey. We began from inception as a small team of eager entrepreneurs and technologists working out of a crowded apartment with no funding. Today, we are a thriving business serving customers around the world, with an incredibly talented team, sophisticated global investors, and a growing suite of powerful enterprise products.
Petuum’s mission is to enable any organization to own and build powerful solutions with AI. We have made huge progress towards this goal, but also recognize that as with any promising business that evolves and grows, we need new executive leadership with different skills to take the company forward into its exciting next chapter. As Petuum enters this next phase of growth, I believe these challenges will be best met by an experienced leader with a long history of scaling teams, products, and revenue.
While the board continues to review candidates for a permanent CEO to deliver on our vision, I’m pleased to announce that our VP of Product, Hitesh Dholakia, will serve as interim CEO. Hitesh’s work has already had an enormous positive impact on our customers, our business, and our team, and we are grateful and excited to have Hitesh taking on this new position. Please give him your full support.
At Petuum, we have an exciting opportunity to build upon our early successes to take us forward into our next phase of growth. We set out to integrate AI into both traditional and new economy industry sector processes and empower a new generation of businesses. AI is a powerful tool, and we need to work hard until AI can be used by professionals throughout the industry. I look forward to seeing what we build together to make that possible.