Temenos CEO steps down after 20 years amid leadership change

By Gloria Methri

Temenos has announced several leadership changes as the company prepares for the next phase of growth. After 20 years of service, Max Chuard has decided to step down from his role as CEO, and the search to identify his successor is underway. The Board of Directors is considering both internal and external candidates and the position is likely to be filled by the end of 2023.

Executive Chairman Andreas Andreades will assume duties as acting CEO whilst a new leader is identified. In addition, after 24 years with Temenos, and following a two-year succession plan, Andreas has decided not to stand for re-election as Executive Chairman at the next AGM.

The Board of Directors has proposed Thibault de Tersant be elected Non-Executive Chairman of the Board at the next AGM.

Max Chuard, Chief Executive Officer, Temenos, said, “I am extremely proud of what Temenos has achieved during my tenure with the company. Throughout my roles, including CFO, COO, and finally CEO, I have seen the company grow from strength to strength. We have made excellent progress against our strategic initiatives and our SaaS transition under my leadership over the last four years. I have made it a priority to establish a strong senior management team during my tenure as CEO, and after more than 20 years with Temenos, this is now the natural time for me to step down to allow the next level of leaders to take the company forward in its next stage of growth.”

Andreas Andreades, Executive Chairman added, “We thank Max for the leadership, passion, and dedication that he has brought to Temenos over the last two decades. He has been integral in developing Temenos into the global technology leader that it is today as evidenced by the number of milestone client wins secured with banks of all sizes and in all banking segments in 2022 and the strong momentum in North America, with top tier and regional banks recognizing the value of our technology proposition.”

Max Chuard will remain in an advisory capacity to ensure a smooth transition.

Thibault de Tersant, Independent and Non-Executive Director, Vice-Chairman, Temenos said, “On behalf of the Board I would like to thank Max not only for his service as CEO but also for his continued dedication and integrity in his former positions as CFO and COO.”

He added, “It is an honour to succeed Andreas as Chair of the Temenos Board at the next AGM. Andreas has been the driving force behind taking Temenos from a small private company with less than 150 people to becoming the leading banking platform company, with best-in-class solutions and technology, and one of the largest software companies in Europe.”