Guidewire hires former Salesforce exec as new CEO

Mike Rosenbaum joins the insurance industry cloud player after more than a decade at Salesforce.

The Industry Cloud: Why It's Next The industry cloud has taken off and big businesses have been built by the likes of Veeva, Rootstock and others. ZDNet's Karen Roby and James Sanders look at how the industry has thrived even as giants like Salesforce, Oracle and SAP eye their turf.

Guidewire, which provides a software platform for the insurance industry announced that it's bringing on former Salesforce executive Mike Rosenbaum as its new CEO. Rosenbaum will also join the board of directors. He succeeds Marcus Ryu, who has transitioned to the role of Chairman of the board. 

Rosenbaum spent more than a decade at Salesforce, most recently as EVP of Product. 

At Guidewire, he'll focus on working with the customer community and furthering Guidewire's cloud offerings. Guidewire is already a key player in the industry cloud landscape. The company landed six new deals of InsuranceSuite via Guidewire Cloud in Q4 and a total of nine for the fiscal year, Guidewire reported Monday. 

"Guidewire is building on its market leadership position in mission-critical applications for [Property and Casualty] insurers to now deliver the leading cloud-based platform for the P&C industry," Ryu said in a statement. "Mike's experience in leading product development and go-to-market strategy at the world's leading cloud enterprise software company make him the ideal leader to accelerate our progress."