The board of directors of Manhattan Associates announced that Eddie Capel will succeed Pete Sinisgalli as Manhattan’s chief executive officer effective Jan. 1, 2013. Sinisgalli will continue to serve on the board.
Manhattan is a provider of supply chain optimization systems for shippers and carriers. Capel joined the company in June 2000 and was appointed to the chief operating officer position in January 2011. Currently he is president and chief operating officer and is appointed to the board. He and Sinisgalli will work together over the balance of 2012 to ensure a smooth transition of responsibilities, Manhattan announced.
“Over the past few years, our board has worked closely with Pete to develop a succession plan for the CEO position,” said John Huntz, chairman. “Eddie Capel has proven to be a highly qualified, experienced leader, and we have great confidence he will continue to drive Manhattan Associates’ market leadership and financial success.”
“This is an ideal time for a CEO transition,” Sinisgalli said. “The company is in very good shape strategically, competitively, operationally and financially. The management team at Manhattan is second to none and is ready to capitalize on the many market opportunities ahead.”
Manhattan Associates reported total revenue of $93.6 million in the second quarter compared to $88.4 million in the second quarter of 2011. License revenue was $15.3 million compared to $16.3 million.