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Wednesday, Feb 8, 2023

Cornerstone OnDemand Expands Board

Cornerstone OnDemand, the Santa Monica cloud-based human resources software company, announced today it is adding an additional seat to its board.

Robert Cavanaugh, previously a president at travel and expense management software maker Concur Technologies of Bellevue, Wash., was elected to Cornerstone’s board of directors on April 20. His appointment expands the board to seven seats.

Cavanaugh’s experience creating an international salesforce for Concur Technologies would be particularly useful, Cornerstone Chief Executive Adam Miller said in a release.

Cornerstone has been ramping up sales and marketing operations in Asia and Latin America over the last two years. In July 2013, the company issued $253 million in convertible notes, in part to cover the cost of that expansion.

Cornerstone has been trading around $29 a share over the last week, down from its peak of about $60 a share in February 2014.

Technology reporter Garrett Reim can be reached at greim@labusinessjournal.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.

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