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Blog / Aug. 31

An Update from Aptos: Executive Leadership Transition and New Chapter

Aptos Marketing

Editor’s Note: On August 31, 2020, Aptos shared the communication below with our customers informing them of executive management changes on the horizon at Aptos. Our customers were encouraged to reach out to their Aptos representative or email with any questions or feedback.

The quote “change is the only constant in life” has never been more accurate than in 2020. This year has been an eventful one for Aptos, starting with our new ownership under Goldman Sachs and our recently announced agreement to acquire Revionics.

As Aptos begins this exciting next chapter, we must share that Aptos CEO Noel Goggin is also starting a new chapter of his own. Noel will be transitioning out of the Aptos business at the end of September.

During Noel’s tenure at Aptos, he has come to mean a lot to many of us in the industry, both personally and professionally. As a remarkable human being and a visionary executive, perhaps the only thing more impressive than the transformation he has helped shepherd at Aptos is the strong foundation for growth that he leaves behind.

Aptos’ springboard for growth includes:

  • The planned addition of Revionics’ cloud-based, AI-powered price optimization solutions to serve as a powerful and natural extension to Aptos’ Merchandise Lifecycle Management suite, allowing retailers to optimize every aspect of the product lifecycle.
  • A transformational retail experience platform in Aptos ONE, offering a microservices-based SaaS architecture that provides retailers a new standard for speed to value – a speed factor that our competition cannot go up against with their legacy products.
  • Continuing global expansion in strategic markets – particularly those markets that our customers have identified as their high-growth areas. In China, for example, Aptos has developed a business plan with Goldman Sachs that will materially accelerate our local presence in that region.
  • A growth strategy and roadmap that includes acquisitions that have clear value, such as creating market access or acquiring technologies that are important to our customers.

The Future Is Bright

As retail begins its recovery from the global pandemic, Aptos is seeing accelerated demand for modern, omnichannel native technology solutions. With the backing of Goldman Sachs, Aptos is in a prime position to support retailers on their digital transformation journeys. We are doubling down on our investments in product innovations, customer success initiatives and global market expansions to help retailers thrive in the new normal.

Noel shared in his own words what he envisioned for Aptos’ next chapter:

“Aptos will leave an even bigger mark on the industry in the next five years than the mark it left during the previous five years, and to me that is really profound. With extraordinary people, technology and customers – and with the full support and partnership of Goldman Sachs – Aptos’ future is extremely bright. I will remain Aptos’ biggest fan, cheering on my former customers and colleagues from the sidelines. Aptos has been a truly fantastic journey, and I want to thank everyone from the bottom of my heart who has been on that journey with me.” – Noel Goggin

Experienced Leadership, a Strong Operating Structure

We are pleased to congratulate Steve Towe on his promotion to President. Steve has served Aptos in progressive leadership roles since 2016, most recently as COO for the past three years. With a laser focus on customer success management and world-class operations, Steve’s deep experience and knowledge of the business will help lead Aptos into its next phase of growth while ensuring the company’s operating structure remains strong as we enter into the peak trading period.

“I am delighted Goldman Sachs has asked me to lead Aptos as President. The pandemic has created new urgency for retailers to move to modern, omnichannel-native technology solutions. With the strategic capital commitment from Goldman Sachs, we are accelerating our innovation investments to help our customers thrive in retail’s new normal. Brighter days are ahead for the retail industry and I’ll work tirelessly to ensure our customers can capitalize on every opportunity that lies ahead.” – Steve Towe

During the forthcoming transition, Senior Strategic Advisor to Goldman Sachs, Lou D’Ambrosio, will serve as Executive Chairman of Aptos, working closely with Steve and other members of Aptos’ Executive Leadership Team. Lou has been the CEO of Fortune 500 companies and has led companies in tech, retail and clean-tech.

In addition to Steve’s appointment, Goldman Sachs has initiated a global CEO search to identify the right individual, ensuring a strong cultural and strategic fit. With full confidence in the Aptos business under Steve’s leadership, Goldman Sachs will take a thorough and measured approach to identify the right candidate.

“On behalf of the board, we thank Noel for his service and many accomplishments during his successful tenure at Aptos. As we look to the future, we want to congratulate Steve Towe on his much deserved promotion. He is the right leader, at the right time, to take this company to new heights and to carry forward Aptos’ commitment to Engaging Customers Differently.” – Lou D’Ambrosio

If you didn’t get a chance to hear Lou speak during Aptos Engage Digital about how we are investing in retailers’ success, you can watch that video here.

Looking Ahead

As the retail industry moves forward with renewal and optimism, so too does the Aptos business. In the coming weeks, we look forward to sharing an update regarding the pending close of the Revionics acquisition.