IFS hires Atlas, Berkshire Hathaway alum for CFO role

Dive Brief:

Software provider IFS appointed Ryan Courson as its new CFO, according to a Monday release and Courson’s LinkedIn profile. Courson served most recently as CFO of Miami-based IT company Kaseya and, from 2018 until 2020, as the finance chief of the Canada-based global asset manager Atlas Corp.
Courson will succeed Matthias Heiden, who is leaving in the second quarter after serving three years as the company’s CFO, according to the release. Before IFS, Heiden worked for SAP where he helped shift the company toward a subscription business model and held such titles as regional CFO for the ME&E region, according to Heiden’s bio on the IFS website.
IFS said it tapped Courson, who early in his career worked at Berkshire Hathaway, due to his combined operating and investing experience. “Ryan has built and led financial organizations inside fast-growth AI companies, he understands markets and capital as a sophisticated investor, and he has operated at the level of a publicly listed company,” IFS CEO Mark Moffat said in a release in the announcement. “That combination is powerful as IFS drives the next phase of our growth.”

Dive Insight:

Courson is joining Sweden-based IFS as it aims to grow its industrial AI software offerings and capitalize on what it says is a shift in how organizations use AI to execute work “across assets, workflows and operations” and beyond simply supporting decisions.”

The company in its most recent quarter ended March 31 reported a 25% rise in annual recurring revenue, noting that companies using its IFS.ai product in Q1 included Coca–Cola, Aramex and Miele. IFS has also been investing in expanding its platform through such transactions as its acquisition last month of Softeon, a provider of warehouse management solutions in a deal that expands the company’s offerings in the warehouse management systems market valued at $8.6 billion, according to a Supply Chain Digital report.

Founded in 1983, the company aims to raise its profile by teaming up with sports franchises. It has partnered with the Chelsea Football club. It also became the oficial technology partner of the Cadillac Formula 1 racing, where it is “embedding its software across engineering, production, and supply chain processes,” according to the release.

The company did not immediately respond to a request for comment.