Guidewire Software Inc. appointed Mike Rosenbaum as CEO and to the board of directors. Former CEO Marcus Ryu has transitioned to become chairman of Guidewire’s board of directors, while former chairman Peter Gassner will continue to serve as an independent director.

“We thank Marcus for co-founding and serving Guidewire since 2001 and welcome him into his new role as chairman,” Gassner said in a statement. “We’re very excited to have Mike on board as CEO. His leadership and cloud experience will be instrumental as we look toward our next chapter of growth.”

This transition comes as Guidewire continues to move towards providing a cloud-based platform for property & casualty (P&C) insurers.

Since joining Salesforce more than a decade ago, Rosenbaum has held several leadership positions. Most recently, he served as EVP product. As CEO of Guidewire, his priorities will include ensuring the success of the Guidewire customer community and further advancing the company’s cloud offerings.

“I am honored to have the opportunity to serve as Guidewire’s CEO,” Rosenbaum said in a statement. “I applaud what the company has achieved and deeply appreciate its values and focused commitment to the P&C insurance industry. I’m excited for the opportunity to work with Marcus and the entire team and to play my part in the company’s future success.”

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Guidewire appoints former Salesforce executive as new CEO

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