OutSystems founder steps back, but not completely: Paulo Rosado is leaving his role as CEO and will become non-executive chairman. However, he's not planning to retire. Rosado says he'll continue to be involved, either as an investor or by working on social impact projects. He told Expresso, "A person with tenacity and will can move the world," as he talked about his new role.
The move to appoint a new CEO, Woodson Martin from the US, happens at an important time.
Rosado explained that they needed someone who could help the company grow from €500 million to €5 billion in revenue. During his time as CEO, OutSystems became a unicorn in 2018 and reached over €500 million in revenue last year. The company also returned to profitability after facing major losses in 2022 and 2023.
Even though he's not managing the company day-to-day, Rosado is still a major shareholder.
Some of the main investors in OutSystems are KKR, Goldman Sachs, and Guidepost Growth Equity.
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