Business
BlackLine Appoints New Member to Board of Directors in Collaboration with Scalar Gauge Fund
Company adds independent director as part of mutual cooperation agreement LOS ANGELES, March 10, 2025 (GLOBE NEWSWIRE) -- BlackLine, Inc. (Nasdaq: BL)
About this update from Blackline, Inc.
[{"type":"text","content":"Company adds independent director as part of mutual cooperation agreement\nLOS ANGELES, March 10, 2025 (GLOBE NEWSWIRE) -- BlackLine, Inc. (Nasdaq: BL) (“BlackLine” or the “Company”) today announced that it has entered into a cooperation agreement (the “agreement”) with Scalar Gauge Fund (“Scalar Gauge”) to appoint a highly qualified and independent member to the Company’s Board of Directors (the “Board”). In accordance with the agreement with Scalar Gauge, the Company will appoint Scott Davidson, no later than March 14, 2025. He will be a Class I Director with a term expiring at the Company’s 2026 Annual Meeting. Davidson has over 25 years of strategy, financial management, acquisitions, and sales & marketing experience at software companies. As the former Chief Operating Officer of Alteryx, he led digital transformation, cloud transition, and M&A strategy. Davidson also brings to the Board a strong understanding of operating SaaS companies in the public markets from his tenure at Hortonworks, where he served as the Chief Financial Officer and Chief Operating Officer. Owen Ryan, Chairman of the Board and Co-CEO, commented, “As we execute on our strategy, we recognize the value of continuing to add fresh perspectives to the Board. Our Board already has added five new directors since 2023. The appointment of Scott is an additional step in the ongoing refreshment of our Board as we continue to focus on accelerating growth and long-term value creation.” Sumit Gautam, Founder and Portfolio Manager of Scalar Gauge, added, “We are looking forward to the work Scott and Blackline’s Board will do to drive shareholder value creation. Over the past few years, the Company has built a strong foundation and is now solidifying its go-forward priorities. We believe that adding Scott to the Board of Directors will contribute further to BlackLine’s strategic position and assist in the creation of value for all BlackLine stockholders.” As part of the agreement, Scalar Gauge has agreed to customary standstill provisions and voting commitments during the term of the agreement. The complete agreement will be filed by the Company with the U.S. Securities and Exchange Commission as an exhibit to a Current Report on Form 8-K. About Scott DavidsonDavidson has over 25 years of strategy, financial management, acquisitions, and sales & marketing experience ...