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Cornerstone (NASDAQ: CSOD) is a premier people development company offering organizations the technology, content, expertise and specialized focus to help them realize the potential of their people. Cornerstone is a leading global provider of comprehensive SaaS solutions for learning and talent management. Cornerstone’s products cover all phases of the employment lifecycle, from recruitment, onboarding, training and collaboration, to performance management, compensation, succession planning, people administration and analytics.
- Cornerstone recently completed its $1.295 billion acquisition of Saba Software, making it the top people development company in the world.
- The largest independent HCM vendor globally with 7,000 customers, in 192 countries and 43 languages
- 75M Users (largest SaaS user base in the world)
- 20+ clients in the Fortune 50
- 95% Retention Rate
- 1 of only 10 companies globally with close to $1 Billion+ in ARR
- 25+ clients on the top 100 Forbes Best Employers. and 15+ clients on Glassdoor Best Place to Work For list
- Market-leading core learning product has delivered more than 600M online classes to millions of users in 2019 (excluding Saba)
- 2020 Q1 revenue of $150.1 million, represents a 7.2% increase compared to the same period of the prior year
- Profitable with unlevered Free Cash Flow ($177M for 2019 for Proforma CSOD + Saba excluding $50 million of announced synergies)
- Strong balance sheet w/Gross Profits of 429M and free cash flow of 300MM+ annually.
- Managing 100+ people Product Team.
The selected CPO will be a seasoned product management pro who can execute on Cornerstone’s vision for the New World of Work. S/he will bring vision, technical prowess, and charisma to lead a global team, inspire a company, and delight clients by executing world-class product management methodologies, automaton tools and best practices.
Keys to the Fit:
- Deep B2B SaaS experience <full stop> Out of market-leading Enterprise SW cos. in dynamic, highly competitive market sector(s) where product differentiation was key to success and scale; HCM sector exper. is a nice-to-have
- Career dominated by pure product management (vs. product marketing, strategy or client services) driving product development
- Delivered commercially successful products which met/exceeded revenue targets as well as other key metrics (adoption, usage, retention/churn)
- Managed complex portfolios of products and platforms with the roadmap for not only product, but the migration of massive user populations; ideally a veteran of post M&A integration
- Senior & Strategic Leader w/ a reputation for getting alignment on vision and roadmap among key stakeholders; Scaled, mentored and held accountable high-performance teams
- Steeped in the latest SW Product Development methodologies (Agile, Scrum, Kanban, DevOps, etc.); Prefer a tech-minded CPO who possibly started in engineering
- B2C/B2B2C (consumer) exper. is a huge plus; w/ 75M users, Cornerstone would benefit greatly from a consumer-centric sensibility