Bloomerang today is announcing that Jay Love, chief executive officer and board chairman, has stepped down as CEO effective July 1, 2017. Love will remain as chairman of the board, and assume the role of CRO (chief relationship officer) working part-time.
Ross Hendrickson, a co-founder and previous chief operating officer and chief financial officer, has assumed the role of chief executive officer as of July 1, 2017.
Love has been the company’s chief executive officer and a board member since the company’s founding in October 2012.
Prior to co-founding Bloomerang, he served as the CEO of eTapestry, the CEO of Social Solutions, and the CEO of Master Software. Love has served as a board member for the The Indiana University Lilly Family School of Philanthropy, was the past chairman of the Association of Fundraising Professionals Ethics Committee, and currently serves as a board member of Conner Prairie and the Butler University Innovation Fund in Indianapolis. He was a Founding Member and Board Member of the TechPoint Foundation for Youth, and was the Founding Chairman of NPower Indiana.
Said Love, “Having seen first-hand what can happen at for-profit and nonprofit organizations when a succession plan is not in place, this transition has been planned since Bloomerang’s founding nearly five years ago. We are so fortunate that the perfect succession candidate was a co-founder and intimately involved with the day to day running of Bloomerang already.”
“This is not your typical retirement announcement,” continued Love. “I plan on staying involved with the executive team for many more years to come. Even though this new role will allow me to spend more time with family and charitable interests, it will also allow me to spend more one-on-one time with Bloomerang customers and partners.”
Upon Love’s recommendation, the company’s board of directors unanimously elected Hendrickson chief executive officer effective July 1, 2017.
Hendrickson has served as chief operating officer and chief financial officer since the company’s founding in October 2012, overseeing finance and product development. Prior to co-founding Bloomerang, he served as Product Manager for Bostech Corporation and later Avectra. He graduated with a B.S. in Economics & Engineering Science from Vanderbilt University.
“Over the last five years, Jay has assembled and cultivated an amazing leadership team,” said Hendrickson. “I look forward to building on the strong foundation that he has laid.”
Continued Hendrickson, “Being able to continue drawing on Jay’s 35+ years of experience in the nonprofit sector in his new role will continue to help us make our customers successful. A CRO may become a critical role for all rapidly growing organizations in the future.”
Said Gary Rush, a Bloomerang board member, “The passion for the nonprofit sector among the employees makes Bloomerang one of the most unique technology companies I have ever been a part of. Seeing them grow and knowing that they will be a long-term employer in central-Indiana makes me very proud and excited.”
This announcement adds to the excitement of the company’s rapid growth and expansion, resulting in the completion of Bloomerang’s new global headquarters in 2015, as well as being named to the 2016 and 2017 Best Places to Work in Indiana lists.