Ancestry’s President & CEO Margo Georgiadis has announced that she has informed the company’s board of directors that she plans to depart the company at the end of 2020. Ms. Georgiadis will remain available for a period of time after her departure to assist in a smooth transition.
“I’m so proud of the collective accomplishments of the Ancestry team and am confident in the company’s continued success,” said Georgiadis. “Over the last three years, we have achieved new records across the company and demonstrated the remarkable resilience of this business. In partnership with Blackstone, the company is well positioned for continued growth, delivering on its mission to empower journeys of personal discovery for millions of people around the world.”
Eric Wilmes, Head of Private Equity, Americas at GIC and Ancestry Board member said, “Margo has made a tremendous impact on this organization, and we are grateful for her many contributions. She has created a best-in-class leadership team and led a process of rebuilding and strengthening our products and our business. On behalf of the entire board, we wish Margo the very best in her next chapter.”
Since Ms. Georgiadis joined Ancestry as President & CEO in 2018, the company has grown to more than 3.6 million subscribers and built the largest consumer DNA network in the world with nearly 20 million people. Ancestry’s core Family History subscription revenue, which anchors the company, has reached $1 billion. The company has also dramatically strengthened margins and delivered record-setting cash flow.
Ancestry’s Board of Directors has commenced an external search for a new CEO.