Former CFO of C3 AI and Model N joins New Relic to accelerate its business goals and mission to help every engineer use data, not opinions at every stage of the software lifecycle

New Relic (NYSE: NEWR), the observability company, announced David Barter as the company’s next Chief Financial Officer. In this role, Barter will oversee global finance operations. Barter will assume the CFO role from Mark Sachleben, who, as previously announced, will retire from the company after 14 years of service.

“David brings exceptional experience accelerating the business goals of high growth companies like Microsoft and General Electric, and is the right leader to be our next CFO,” said New Relic CEO Bill Staples. “His fresh perspective, integrity, decisiveness, and accountability will be invaluable to New Relic as we continue to drive our long-term growth strategy of putting the power of data in the hands of the world’s software engineers.”

Barter brings nearly three decades of high-growth public and private company finance experience to New Relic. Most recently, Barter served as CFO of C3 AI, where he led the company through a successful IPO. Previously, he held the CFO position at Model N and led finance teams at Microsoft, General Electric, and Guidewire Software. Barter is an established business leader with proven success leading the financial strategies of public companies in the technology sector. He holds a Master of Business Administration and Master of Engineering Management from Northwestern University’s Kellogg School of Management, and a Bachelor of Business Administration in Finance and Philosophy from University of Notre Dame.

“I was drawn to New Relic because of its reputation as an industry-leading observability company and its focus on engineers with an innovative platform and business model,” said David Barter. “I’m looking forward to working with the excellent team already in place, and helping the business scale to realize its growth and profitability goals while delivering industry leading software to its customers.”

The company expects its Board of Directors to formally appoint Mr. Barter to the role on August 17, 2022, at which time Mr. Sachleben will transition into an advisory role. For more information on career opportunities at New Relic, please visit www.newrelic.com/about/careers.

About New Relic

As a leader in observability, New Relic empowers engineers with a data-driven approach to planning, building, deploying, and running great software. New Relic delivers the only unified data platform that empowers engineers to get all telemetry—metrics, events, logs, and traces—paired with powerful full stack analysis tools to help engineers do their best work with data, not opinions. Delivered through the industry’s first usage-based consumption pricing that’s intuitive and predictable, New Relic gives engineers more value for the money by helping improve planning cycle times, change failure rates, release frequency, and mean time to resolution. This helps the world’s leading brands including adidas Runtastic, American Red Cross, Australia Post, Banco Inter, Chegg, GoTo Group, Ryanair, Sainsbury’s, Signify Health, TopGolf, and World Fuel Services (WFS) improve uptime, reliability, and operational efficiency to deliver exceptional customer experiences that fuel innovation and growth. www.newrelic.com.

Forward-looking statements

This press release contains “forward-looking” statements, as that term is defined under the federal securities laws, including but not limited to statements regarding the appointment of Mr. Barter, and the experiences and value that he will bring to New Relic. The achievement or success of the matters covered by such forward-looking statements are based on New Relic’s current assumptions, expectations, and beliefs and are subject to substantial risks, uncertainties, assumptions, and changes in circumstances that may cause New Relic’s actual results, performance, or achievements to differ materially from those expressed or implied in any forward-looking statement. Further information on factors that could affect New Relic’s financial and other results and the forward-looking statements in this press release is included in the filings New Relic makes with the SEC from time to time, including in New Relic’s most recent Form 10-K and any subsequent Form 10-Q, particularly under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Copies of these documents may be obtained by visiting New Relic’s Investor Relations website at http://ir.newrelic.com or the SEC's website at www.sec.gov. New Relic assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

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