Clarivate Plc Appoints Matti Shem Tov as New CEO

Former ProQuest CEO to Lead Clarivate into Next Phase of Growth

Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, has announced the appointment of Matti Shem Tov as its next CEO, effective August 9, 2024. Shem Tov, the former CEO of ProQuest, will also join Clarivate’s Board of Directors. Jonathan Gear, the current CEO, will transition to a non-executive role until November 1, 2024. This leadership change follows a comprehensive selection process led by Clarivate’s Board of Directors and supported by Heidrick & Struggles, a global executive search firm.

Leadership Transition and Strategic Vision

Andy Snyder, Chairman of the Clarivate Board, noted that the decision for new leadership was a mutual agreement between the Board and Gear. Snyder expressed gratitude for Gear’s contributions, highlighting his success in restructuring Clarivate into three end-market segments, revitalizing product innovation investments, attracting top talent to the leadership team, and strengthening the company’s balance sheet. These initiatives have positioned Clarivate to leverage its distinct business segments to deliver tailored solutions to customers worldwide. Snyder expressed confidence in the company’s solid foundation and ongoing investments in product innovation to drive organic growth.

Snyder welcomed Matti Shem Tov back to Clarivate, emphasizing his deep expertise in product innovation and market delivery. The Board believes Shem Tov’s extensive leadership experience makes him well-suited to partner with Clarivate’s management team and lead the company into a new phase of accelerated growth.

Matti Shem Tov’s Background and Vision

Matti Shem Tov brings over 30 years of global leadership experience in software, data, analytics, and driving innovation and growth. From June 2022 to March 2024, he served as an operating partner at Lone View Capital, a private equity firm. Prior to that, he was the CEO of ProQuest LLC from September 2017 to June 2022, including a period following Clarivate’s acquisition of ProQuest in December 2021. Shem Tov also served as President and CEO of Ex Libris Ltd. from 2003 to 2017, leading the development of cloud-based software solutions for academic, national, and research institutions. Before joining Ex Libris, he was President of Surecomp Limited, a global software company specializing in commercial banking solutions. Shem Tov holds a Bachelor of Arts and a Master of Business Administration from Bar-Ilan University.

Shem Tov expressed his enthusiasm for joining Clarivate as its next CEO. He voiced respect for Clarivate’s mission of advancing innovation through research and knowledge sharing to tackle complex global challenges. Shem Tov looks forward to working closely with the global team and customers to accelerate growth, enhance product innovation, and drive value creation for stakeholders.

Jonathan Gear’s Reflection and Future Role

Reflecting on his tenure, Jonathan Gear expressed pride in the achievements made with his dedicated team. He highlighted the progress in managing and integrating Clarivate’s portfolio while supporting customers and partners. Gear acknowledged that after thorough discussions with the Board, it was the right time for this leadership transition. He expressed confidence in Clarivate’s strong future and looks forward to supporting the company in his upcoming non-executive role.

Clarivate’s Financial Performance

In a separate announcement, Clarivate reported its results for the second quarter ended June 30, 2024. The company planned a conference call and webcast at 9:00 a.m. Eastern Time to review the quarterly results and discuss the leadership changes.

Clarivate’s appointment of Matti Shem Tov as CEO marks a significant milestone in the company’s journey. With his extensive experience and strategic vision, Clarivate is poised to enter a new phase of growth, innovation, and value creation for its stakeholders.