Stephen Wiehe, chief executive officer at SciQuest (Nasdaq: SQI) is also the chairman of the eprocurement service provider’s board.
Wiehe, the top executive at SciQuest since 2001, succeeds Noel Fenton, the formal board chair, did not stand for re-election.
SciQuest announced the change early Thursday. The company also said Tim Buckley, a former chief operating officer at Red Hat, would be lead independent director on the board.
Fenton served on the board for 13 years and helped recruit Wiehe as CEO.
“Steve, with Noel’s support and guidance, has been the chief architect of SciQuest’s profitable growth for the past decade,” Buckley said in a statement. “The board believes that Steve’s open-minded approach and desire to achieve consensus will serve shareholders well over the coming years. I look forward to working diligently in my expanded role as the lead independent board member to continue the company’s history of enhancing shareholder value by ensuring that the Board considers external perspectives, thoughts and ideas.”