SurveyMonkey CFO to Retire After 10 Years

Tim Maly "helped us achieve critical milestones over the years, culminating in the IPO."
Matthew HellerFebruary 14, 2019

SurveyMonkey announced the retirement of CFO Tim Maly on Wednesday as it reported better-than-expected quarterly sales.

Maly guided SurveyMonkey, which provides digital survey tools and data analytics to business customers and individual users, through its initial public offering in September. The company said he is retiring for personal reasons but will stay on until June 30 to assist in the search for his successor.

“Tim has been a high integrity leader whose business acumen, values and resilience helped us achieve critical milestones over the years, culminating in the IPO,” SurveyMonkey CEO Zander Lurie said in a news release. “Our operational and financial discipline is a testament, in part, to his many contributions.”

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Maly joined SurveyMonkey in 2009 after six years at Google, where he was director of online sales and operations.

SurveyMonkey “helped create — and then revolutionized — the category of survey software,” he said. “My ten-year journey with the company has been a true privilege and I am honored to have worked with such an amazing team.”

In the last earnings report of Maly’s tenure, the company said its revenue rose 19% to $67.9 million in the fourth quarter and it swung to a loss of $25.2 million, or 20 cents a share, from a profit of $8.1 million, or 8 cents a share, in the year-ago period. Excluding one-time items, it lost 3 cents per share.

Analysts polled by FactSet had expected an adjusted loss of 3 cents a share on sales of $64.6 million.

“2018 was a transformational year for SurveyMonkey,” Lurie said in the earnings call. “We set some very aggressive goals and we delivered on them.”

Maly said the Q4 revenue growth reflected strength across both enterprise sales and self-serve channels and that SurveyMonkey ended the year with 647,000 paying users, up 7% year-over-year and up more than 25,000 from the end of the third quarter.

“I’m retiring to pursue my passion for climbing, skiing and adventure in the mountains,” he told analysts.