Icertis has appointed Chief Financial Officer Rajat Bahri and board member Jim Moffatt as interim co-CEOs as the contract intelligence company begins a search for its next permanent chief executive. Moffatt has also been named chair of the Icertis board of directors.
Bahri will continue serving as chief financial officer while sharing responsibility for executing the company’s strategy and supporting its next stage of growth.
Anand Subbaraman, who joined Icertis in 2024, will transition into an advisory role to help ensure continuity during the leadership change.
The company’s board has engaged an executive search firm to identify a permanent CEO.
Icertis develops an AI-native contract intelligence platform designed to help companies use the information contained within contracts to improve business operations and decision-making.
Its platform connects agreements, enterprise data and business systems, allowing customers to analyze contractual obligations, risks and commercial opportunities.
At the center of the platform is Vera, Icertis’ contract AI layer, which is designed to understand company and industry context.
The company positions Vera as a foundation for increasingly autonomous enterprise workflows involving contracts and related business processes.
Bahri and Moffatt bring complementary experience across finance, enterprise technology, professional services and global operations.
Bahri has served as Icertis’ CFO since 2022 and has helped oversee the company’s financial management, growth and international expansion.
Before joining Icertis, he was CFO of digital identity company ID.me.
He previously served as CFO of Wish and helped lead the e-commerce company through its initial public offering following significant growth and international expansion.
Bahri was also CFO of Jasper Technologies before its acquisition by Cisco.
His earlier experience includes serving as CFO of Trimble Navigation and holding several positions at Kraft Foods.
Bahri currently serves on the board of Pacific Gas and Electric Company.
Moffatt has served on the Icertis board of directors since 2022 and is a member of its audit and compensation committees.
He previously served on the company’s advisory board, giving him several years of experience working with Icertis leadership and evaluating its strategy.
Moffatt spent more than 35 years at Deloitte and previously served as vice chairman and global CEO of Deloitte Consulting.
During his tenure, Deloitte Consulting’s revenue grew to approximately $15 billion, making it the firm’s fastest-growing business unit.
Moffatt also served as chairman and U.S. CEO of Deloitte Consulting, overseeing expansion through organic growth and acquisitions.
He currently serves on the boards of several enterprise technology companies.
The interim leadership structure is intended to provide continuity while the board evaluates potential CEO candidates.
Bahri will contribute financial discipline and familiarity with Icertis’ internal operations, while Moffatt will bring experience leading a large global consulting organization.
The two executives will work with the board and senior leadership team to maintain the company’s product development, customer and partner initiatives.
Subbaraman joined Icertis with a mandate to accelerate AI innovation and scale the company’s operations.
During his transition into an advisory role, he will support Bahri, Moffatt and the board as they manage the leadership change.
Icertis said it is entering the transition with strong market momentum and a defined strategy for future growth.
The company plans to continue investing in Vera and its broader AI-native contract intelligence platform.
Contract intelligence systems can help organizations extract information from agreements, monitor obligations and connect contract terms with financial, operational and compliance processes.
Businesses often manage large volumes of contracts across departments, subsidiaries and geographic markets.
Important information involving pricing, renewal dates, service obligations, risk provisions and regulatory requirements may be distributed across thousands of documents.
Icertis uses AI to organize this information and make it available within broader enterprise workflows.
The company believes contract intelligence can become an important component of autonomous enterprise systems in which AI handles more routine processes and supports more complex decisions.
Bahri and Moffatt will focus on executing the existing strategy while the board conducts its permanent CEO search.
KEY QUOTES:
“Icertis is entering an exciting new chapter from a position of strength, with strong market momentum, industry-leading innovation and a clear strategy for its next phase of growth. The board has great confidence in Rajat and Jim as they step into these leadership roles. Rajat’s proven track record of financial leadership and deep understanding of the business, combined with Jim’s extensive experience serving as both the global and U.S. CEO of Deloitte Consulting, during which time he doubled revenue, make them exceptionally well positioned to guide Icertis forward. Together, they bring the strategic vision, operational discipline and customer focus needed to build on the company’s success while the board conducts a search for our next CEO.”
Penny Pritzker, Lead Independent Director at Icertis and Chairman of PSP Partners and Its Affiliates
“Having served as a member of the board since 2022 and a member of the advisory board prior to that, I have had a front-row seat to Icertis’ growth and success, and I am pleased to be working closely with Rajat, the board and our leadership team as we capitalize on the significant opportunities ahead. We are grateful for Anand’s service and his work to expand the company’s AI capabilities and in scaling operations. As our board conducts its search for the next CEO, Rajat and I will ensure we do not miss a beat during this important time for our company.”
Jim Moffatt, Interim Co-CEO and Chair of the Icertis Board of Directors
“With our world-class team and next-generation contracting experience powered by Vera, Jim and I are focused on executing our strategy, delivering exceptional outcomes for our customers and partners and building on the strong momentum across the business. We look forward to working closely with our employees, customers and partners as we continue shaping the future of AI-native contract intelligence and the foundation for an autonomous enterprise.”
Rajat Bahri, Interim Co-CEO and CFO of Icertis
“It has been an incredible privilege and honor to be part of the Icertis team. I am immensely proud of the progress we have made and all that we have accomplished together on behalf of customers and partners. I look forward to watching Icertis continue to innovate, grow and deliver for its customers for years to come.”
Anand Subbaraman, Advisor to Icertis
