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Risk Management Solutions Inc. has replaced co-founder and CEO Hemant Shah with Silicon Valley veteran Karen White, the Newark, California-based catastrophe modeler said Thursday.
Ms. White began her Silicon Valley career at Oracle in 1993 and most recently was president at Addepar Inc., an investment management technology company in Mountain View, California.
“This is the perfect time to appoint Karen White, a highly-respected and seasoned Silicon Valley executive, as the Chief Executive Officer of RMS,” Paul Zwillenberg, CEO of RMS parent company DMGT, said in the statement. “Karen has a proven track record of adapting companies to market changes to drive growth and operational effectiveness at scale.”
RMS was co-founded as a spin out from an academic project at Stanford University, the statement said.
"I would also like to thank Hemant Shah, a pioneer in the industry, for his vision and dedication, growing RMS into a global leader since co-founding the company nearly 30 years ago,” Mr. Zwillenberg said in the statement.
Insured losses from Hurricane Irma will be between $35 billion and $55 billion, risk modeler Risk Management Solutions Inc. said Wednesday.