AMERI Holdings, Inc. (NASDAQ: AMRH), a specialized SAP® cloud, digital and enterprise services company, today announced the promotion of Brent Kelton, Executive Vice President of Business Development, to Chief Executive Officer effective immediately. Kelton succeeds Giri Devanur, President, CEO and Board Member.
Kelton, who joined the Company at the beginning of 2017 with its acquisition of ATCG, is an accomplished industry veteran with strong experience in management consulting, corporate strategy and business development in the information technology services industry with a focus on large, SAP business transformation projects. As CEO, Kelton will be responsible for customer engagement and revenue growth under a unified Ameri100 brand operating across all global locations.
Dev Nidhi, Founder and Executive Vice Chairman, stated, "Brent's strong leadership, deep SAP ecosystem experience and relentless focus on increasing sales and delivering solutions in the growing SAP cloud services market makes him the ideal choice for the next phase of Ameri100's growth."
"I am pleased to have Brent step into the CEO role to transform the way we drive innovations with our customers," said Jeffrey E. Eberwein, Chairman of the Board. "I would also like to very much thank Giri for his contributions in getting Ameri100 to its current stage and wish him the best in his future endeavors."
Mr. Kelton stated, "It is an exciting time to assume leadership of Ameri100 as we move to empower enterprises to transform their businesses through the implementation of cloud delivery services to gain top-line growth and operational efficiencies. Through the integration of numerous acquisitions, the Company has built a platform that puts it in a very strong position to secure opportunities in the growing SAP cloud market."
Kelton's experience includes building, scaling and growing enterprises dedicated to full lifecycle projects for large and complex organizations. He previously led Fujitsu's North American SAP business unit and KPIT Technologies Limited's SAP Strategic Business Unit, the latter where he grew the company to over 1,600 employees globally with annual revenues of $125 million. He has also held leadership positions at several technology service providers focused on implementation services and support of SAP solutions. Kelton holds a Bachelor of Science degree in Business Analysis and Management Information Systems from Texas A & M University.
Reaffirming 2018 Financial Target for Adjusted EBITDA Profitability
In conjunction with the promotion of Brent Kelton to the position of Chief Executive Officer, the Company announced the integration of its Sales and Solutions functions to achieve sharper commercial focus and drive value creation for its customers.
This initiative, together with the recent completion of streamlining and integration of Ameri100's acquired companies, is expected to result in approximately $2.5 million in cash savings on an annual basis in 2018. This is expected to result in a 25% reduction in Selling, Marketing, General and Administrative expenses compared to 2017. The Company reaffirms its prior financial target for Adjusted EBITDA profitability during the first-half of 2018.
Ameri100 is a fast-growing specialized SAP® cloud, digital and enterprise services company which provides SAP® services to customers worldwide. Headquartered in Princeton, New Jersey, Ameri100 has offices in the U.S. and Canada. The Company also has global delivery centers in India. With its bespoke engagement model, the Company delivers transformational value to its clients across industry verticals. For further information, visit www.ameri100.com.