Sapiens International Corporation has announced a series of senior leadership appointments as it begins a new phase as a privately held InsurTech company following its acquisition by global private equity firm Advent.
The acquisition was first announced on 13 August 2025 and approved by shareholders at an Extraordinary General Meeting on 19 November 2025. The transaction officially closed on 17 December 2025 after all regulatory approvals and customary closing conditions were met.
As a result, Sapiens’ common stock has ceased trading and is no longer listed on NASDAQ or the Tel Aviv Stock Exchange. The business will now operate as a private company under Advent’s ownership, with Formula retaining a minority stake.
Following the completion of the deal, long-serving leader Roni Al-Dor has confirmed he will step down as president and CEO on 31 December 2025, ending a 20-year tenure. During this period, Al-Dor oversaw Sapiens’ transformation into a global insurance software provider and played a central role in securing the partnership with Advent.
Sapiens president and CEO Roni Al-Dor said, “It has truly been a privilege to lead Sapiens through its incredible growth journey. I’m deeply grateful to the talented teams and loyal customers who have shaped the company’s success. As we commence the next chapter under Advent’s ownership, Sapiens is poised for an exciting next phase. I’m confident the company will continue delivering modern, resilient solutions and helping insurers navigate complexity and build intelligent, technology-enabled businesses.”
To ensure continuity, the board has appointed Mike Ettling as executive chairman, with Ettling also serving as interim CEO while a search is undertaken for a permanent chief executive.
Incoming executive chairman Mike Ettling said, “Sapiens is a recognized leader in insurance technology and a critical partner to insurers navigating rapid change. I am privileged to have the opportunity to steward Sapiens and its 5,400 committed and innovative people in the next phase of their growth journey. Together with the leadership team, I look forward to building a new AI-driven customer-centric future for Sapiens.”
Alongside this appointment, Sapiens has strengthened its executive team with several senior hires effective 17 December. Paul Wheeler joins as CFO, bringing more than 30 years’ experience in private equity-backed technology businesses. Dr Ernesto Marinelli has been appointed chief people success officer, while James Hannay becomes CRO, responsible for leading all global go-to-market, sales and revenue operations.
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