Verbit appoints Yair Amsterdam as Acting CEO in place of Tom Livne
Verbit appoints Yair Amsterdam as Acting CEO in place of Tom Livne
Livne has decided to step down as CEO and will take the role of Chairman Emeritus of the Board of Directors
Transcription unicorn Verbit announced on Monday that company President Yair Amsterdam has been named Acting CEO, effective immediately. Tom Livne has decided to step down as CEO and will take the role of Chairman Emeritus of the Board of Directors.
“Verbit is at a pivotal moment, and we are confident that these changes will propel us to the next level,” said Yair Amsterdam. “We have the scale, the customer base, the financial resources, and the most talented team in the industry – all the ingredients for continued success.”
Livne co-founded Verbit in 2017 with Eric Shellef and Kobi Ben Tzvi, who both left the company long ago.
Tom Livne commented, “I am immensely proud of what we have achieved together at Verbit, and trust that the company is well-positioned for continued growth and innovation. I have full confidence in Yair and the entire management team at Verbit in leading the company to a successful future.”
Verbit, which has developed an AI-powered real-time transcription and captioning platform, looked to be on top of the world in August 2021 when it raised $250 million in a Series E at a valuation of $2 billion. However, little has gone according to plan since then and it will be hoping the new CEO will help the company return to rapid growth.
Verbit said on Monday that it intends to enhance products with Generative AI and that it “will prioritize a strong balance sheet for continued investment and growth.”
