UNITED STATES
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FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 15, 2024, the Board of Directors (the “Board”) of BlackLine, Inc. (the “Company”) appointed Camille Drummond to serve as a member of the Board. Ms. Drummond will serve in the class of directors whose term expires at the Company’s annual meeting of stockholders to be held in 2025. Ms. Drummond will also join the Audit Committee of the Board (the “Audit Committee”).
Ms. Drummond has served as Senior Vice President of Global Business Services (GBS) at BP p.l.c. since 2018. At BP, she previously served as Head of Group Planning and Performance from 2016 to 2018, Global Head of Trading Business Services from 2014 to 2016, and Chief Financial Officer of European Gas and Power trading business from 2011 to 2014. She has served in various finance roles at BP since 1989. Ms. Drummond holds an M.B.A. from Henley Management College.
In accordance with the Company’s amended and restated Outside Director Compensation Policy, the terms of which are described in the Company’s proxy statement for its 2023 annual meeting of stockholders, Ms. Drummond is entitled to cash and equity compensation for her service on the Board and the Audit Committee. Ms. Drummond will also enter into BlackLine’s standard form of indemnification agreement, which was previously filed with the Securities and Exchange Commission.
There are no family relationships between Ms. Drummond and any director or executive officer of the Company, and Ms. Drummond has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit Number |
Description | |
| 99.1 | Press Release issued by BlackLine, Inc., dated March 18, 2024 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BLACKLINE, INC. | ||||||
| Date: March 18, 2024 | By: | /s/ Karole Morgan-Prager | ||||
| Karole Morgan-Prager | ||||||
| Chief Legal and Administrative Officer | ||||||
2
Exhibit 99.1
|
For Immediate Release |
Camille Drummond Joins BlackLine Board of Directors
36-year veteran of global oil, gas, and energy powerhouse bp brings extensive business process
services expertise to help guide digital finance transformation leader
LOS ANGELES and LONDON – March 18, 2024 – BlackLine, Inc. (Nasdaq: BL) announced today that Camille Drummond has joined the digital finance transformation leader’s board of directors, effective March 15th, 2024. Drummond will draw on her 36 years leading finance and global business process services at oil, gas, and energy leader bp to support BlackLine’s long-term growth trajectory, help extend its market leadership, and elevate its position within the Office of the CFO.
“Camille has driven large-scale organizational and digital transformation at one of the world’s largest companies and proven she is adept at developing business strategies that drive long-term bottom-line growth and value,” said Owen Ryan, chairman and co-CEO of BlackLine. “Her deep understanding of complex global operations will help guide BlackLine as we further accelerate growth and continue to meet the evolving needs of our customers as they embark on their digital finance transformation journeys.”
Drummond currently serves as SVP of Global Business Services at bp, overseeing worldwide finance, procurement, customer, and HR business services teams. During her tenure at bp, she has also held several senior finance roles including CFO of Gas Trading Europe.
“Having managed critical business services on a global scale for many years, I am well-versed in not only the importance of modernizing business processes including the finance function, but also the challenges BlackLine and its customers may be facing,” said Drummond. “I believe my vision for innovation, excellence, and customer success aligns perfectly with BlackLine’s goals. I have seen the transformative impact of BlackLine first-hand and look forward to sharing my perspective to support BlackLine’s mission to continue to be the premier technology partner to the Office of the CFO.”
Recognized for her distinguished career at bp, as well as for driving diversity and inclusion within and outside of organizations, Drummond has been named to the UK’s ‘Powerlist’ of the 100 most influential black leaders for the past five years. She holds an MBA from the Henley Business School.
About BlackLine
Companies come to BlackLine (Nasdaq: BL) because their traditional manual accounting and finance processes are not sustainable. BlackLine’s market-leading cloud platform and customer service help companies move to modern accounting by unifying their data and processes, automating repetitive work, and driving accountability through visibility. BlackLine provides solutions to manage and automate financial close, intercompany accounting, invoice-to-cash, and consolidation processes – inspiring, powering, and guiding large enterprises and midsize businesses on their digital finance transformation journeys.
More than 4,300 customers trust BlackLine to help them close faster with complete and accurate results. The company is the pioneer of the cloud financial close market and is recognized as the leader by customers at leading end-user review sites including G2 and TrustRadius. BlackLine is a global company with operations in major business centers including Los Angeles, New York, the San Francisco Bay area, London, Paris, Frankfurt, Tokyo, Sydney, and Singapore. For more information, visit blackline.com.
# # #
Media Contact:
Ashley Dyer
PR Director
BlackLine
818-936-7166
ashley.dyer@blackline.com
BlackLine Forward-looking Statements
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expect,” “plan,” anticipate,” “believe,” “estimate,” “predict,” “intend,” “potential,” “would,” “continue,” “ongoing” or the negative of these terms or other comparable terminology. Forward-looking statements in this release include statements regarding our growth plans, strategies and opportunities.
Any forward-looking statements contained in this press release are based upon BlackLine’s current plans, estimates and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith beliefs and assumptions as of that time with respect to future events and are subject to risks and uncertainties. If any of these risks or uncertainties materialize or if any assumptions prove incorrect, actual performance or results may differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the Company’s ability to execute on its strategies, attract new customers, enter new geographies and develop, release and sell new features and solutions; and other risks and uncertainties described in the other filings we make with the Securities and Exchange Commission from time to time, including the risks described under the heading “Risk Factors” in our Annual Report on Form 10-K. Additional information will also be set forth in our Quarterly Reports on Form 10-Q.
Forward-looking statements should not be read as a guarantee of future performance or results, and you should not place undue reliance on such statements. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.