Vijay Kumar
Rimini StreetAbout Vijay Kumar
Vijay Kumar, age 50, was appointed Chief Operating Officer of Rimini Street on May 6, 2025 and retitled Executive Vice President and COO on May 27, 2025; he brings 25+ years building and scaling go-to-market, post-sales, services and product organizations across enterprise software and SaaS, with prior leadership roles at Genesys Cloud (SVP, 2017–Jan 2025), HP Software, Kony Inc., and Vignette (acquired by OpenText) . He holds a Bachelor of Commerce and an MBA from the Xavier School of Management (XLRI), India . Company context at the time of his appointment: FY2024 revenue was $428.8M, adjusted EBITDA $53.1M, gross margin 60.9%, and operating loss $32.1M; FY2023 revenue was $431.5M, gross margin 62.3%, and operating income $43.8M, with the Compensation Committee in 2025 revising the bonus plan to emphasize net new invoicing, adjusted EBITDA, cash collections, and client satisfaction to better align incentives with profitability and growth .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Genesys Cloud | Senior Vice President | May 2017–Jan 2025 | Led global operations, customer success, services and delivery; accelerated customer expansion, drove revenue retention and operating margin |
| HP Software | Executive leadership (Services Sales & Delivery) | Not disclosed | Led services sales and delivery; scaled enterprise software services capability |
| Kony Inc. | Vice President and General Manager, Professional Services | Not disclosed | Ran professional services; product-adjacent revenue and adoption support |
| Vignette (acquired by OpenText) | Vice President | Not disclosed | Enterprise content/software leadership; post-acquisition execution experience |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No public company directorships or external board roles disclosed in RMNI filings . |
Fixed Compensation
| Component | 2025 Terms | Notes |
|---|---|---|
| Base Salary | $400,000 (annual; pro-rated from May 6, 2025) | Offer Letter dated May 5, 2025 |
| Target Annual Bonus | $225,000 (56.25% of salary at 100% attainment; pro-rated for 2025) | Paid under Company Bonus Plan; ability to earn more with over-achievement |
| Benefits | Eligible for retirement and comprehensive benefits per executive programs | Employee Benefits Guide referenced in offer materials |
Performance Compensation
| Metric | Weighting | Target (2025) | Actual | Payout Mechanism | Vesting |
|---|---|---|---|---|---|
| Net new invoicing | Updated weights (undisclosed) | Internal plan values (undisclosed) | Not disclosed | Quarterly Company Performance Factor × Individual Performance Factor | Cash (no vesting) |
| Adjusted EBITDA | Updated weights (undisclosed) | Internal plan values (undisclosed) | Not disclosed | As above | Cash |
| Cash collections | Updated weights (undisclosed) | Internal plan values (undisclosed) | Not disclosed | As above | Cash |
| Annual expenses vs plan | Updated weights (undisclosed) | Internal plan values (undisclosed) | Not disclosed | As above | Cash |
| Client satisfaction—case resolution | Updated weights (retained) | Internal plan (scale 1.0–5.0) | Not disclosed | As above | Cash |
| Client satisfaction—onboarding | Updated weights (retained) | Internal plan (scale 1.0–5.0) | Not disclosed | As above | Cash |
Notes:
- Quarterly Company Performance Factor is based on Financial and Client Satisfaction metrics; specific results versus plan are not publicly disclosed to protect competitive sensitivity . Individual Performance Factor incorporates corporate performance and role-specific objectives, with Compensation Committee oversight .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Onboarding RSUs | 100,000 RSUs granted May 15, 2025; vest in equal annual installments on the first, second, and third anniversaries of grant, subject to continued service . |
| Onboarding Stock Options | 100,000 options granted May 15, 2025; vest in equal annual installments over 3 years; exercise price set at fair market value (closing price on Nasdaq) on grant date per 2013 Plan . |
| Beneficial Ownership | Not included in 2025 proxy table due to record date (April 15, 2025) preceding appointment; next proxy expected to reflect holdings . |
| Hedging/Pledging | Company Insider Trading Policy prohibits executive hedging and pledging; pre-clearance required for certain employees . |
| Clawback | Executive Officer Incentive Compensation Recovery (Clawback) Policy effective Oct 31, 2023 per Rule 10D-1 and Nasdaq 5608; mandates recovery of incentive comp upon covered accounting restatements . |
| Ownership Guidelines | No executive stock ownership multiple disclosed in filings reviewed . |
| Pledging Status | Pledging prohibited by policy; no pledges disclosed for Kumar . |
Employment Terms
- Appointment and Title: Appointed COO effective May 6, 2025; retitled EVP & COO effective May 27, 2025; functions as principal operating officer .
- At-Will Employment: Offer explicitly at-will; no fixed term; employment can be terminated by either party at any time .
- Scope and Reporting: Reports to CEO; oversees Product Management, Global Capability Centers, and aspects of Global Service Delivery; product management function moved under COO as of May 19, 2025 .
- Agreements/Policies: Required to execute IP & Confidentiality Agreement, Acceptable Use Policy, Injunction Compliance & Third-Party IP Handling Policy, Employee Handbook acknowledgment .
- Severance/Change-in-Control: No severance or change-in-control terms disclosed in the offer letter; awards subject to 2013 Equity Plan and standard RSU/Option agreements .
- Related Party Transactions: None; not appointed pursuant to any arrangement; no family relationships; no Item 404(a) transactions .
Investment Implications
- Strong operational pedigree aligned to RMNI’s 2025 bonus redesign that ties compensation to profitability (Adjusted EBITDA), cash generation, net new invoicing, and client satisfaction—favorable for pay-for-performance and cash discipline .
- Equity grants with three-year ratable vesting and policy prohibiting hedging/pledging reduce near-term selling pressure and enhance alignment; lack of disclosed severance/CIC terms suggests less guaranteed downside protection, which can moderate moral hazard but may raise retention sensitivity during strategic transitions .
- Operational scope expanded (product management under COO), creating execution leverage but increasing role complexity; monitor quarterly outcomes under revised KPIs and subsequent Section 16 filings for insider transactions to gauge selling pressure and alignment over time .
- Company-wide clawback policy strengthens governance and investor protection, particularly as incentive structures emphasize financial reporting measures .