Medallia has appointed Mark Bishof as its new Chairman & CEO.
Mike Lipps, who has held the CEO mantle since April 2024, will remain on the Medallia board.
The former LexisNexis head honcho had helped fill in after former CEO Joe Tyrrell suddenly vacated the position after little more than a year in charge, citing personal reasons.
However, Lipps’ appointment was only temporary, as Medallia sought a long-term successor.
Bishof is that successor, and he brings deep industry experience as the former CEO of Clarabridge, the conversational analytics platform provider.
In 2021, he led Clarabridge’s $1.125BN acquisition by Medallia’s chief voice of the customer (VoC) rival: Qualtrics.
After, Bishof spent two years at Qualtrics as the Chief Business Officer XM and a Strategic Advisor.
However, he left in November 2023 and has since maintained board positions at Mercell, Eptura, and NextGen Healthcare.
These companies are tech providers specializing in public tendering and bidding, workplace, and healthcare software, respectively.
Yet, Bishof is now ready to lead a CX vendor again.
“I am honored and excited to lead Medallia, a true pioneer with a vast history and depth of personalized enterprise experience data,” he said.
“Medallia has always been a customer-centric and forward-thinking company dedicated to helping enterprises fulfill their brand promises and deliver exceptional experiences.
As our industry landscape continues to evolve… we have significant opportunities to drive long-term growth and extend our leadership in the space.
Gartner rubberstamps that leadership, placing Medallia at the forefront of its 2024 Magic Quadrant for VoC Platforms.
Similarly, Forrester Research made the vendor a leader in its latest Customer Feedback Management Wave report.
In doing so, the research firms spotlighted strengths in its voice of the employee (VoE) capabilities, text mining features, and overall product innovation.
However, compared with 2023, 2024 proved a slow year for innovation at Medallia. That’s despite significant AI headwinds stretching across the CX space.
Before Tyrell’s exit, Medallia did announce a Generative AI Themes feature, which highlights real-time trends in customer feedback, which users can drill down into.
Meanwhile, Medallia also launched a virtual assistant – “Ask Athena” – that users can leverage to ask questions of their data and uncover new insights.
Yet, with a deep base of ISV partners – including the likes of Adobe, Salesforce, and ServiceNow – pushing the boundaries of AI innovation, some may have expected more.
Thankfully, Lipps believes Bishof is the ideal person to push Medallia’s AI narrative forward.
“We are thrilled to welcome Mark to Medallia, and I look forward to working closely with him as we strengthen and expand our business and platform,” stated Lipps. “He is an excellent and proven leader with strong experience in exceeding ambitious targets and managing complex challenges.
We are well-positioned for success in this next phase of our story and are ready to take charge of our future and deliver differentiated value for our clients.
As Medallia builds out this story, it may face increasing competition. In 2024, Sprinklr entered the customer feedback management space, and many other brands with advanced analytics tools – often used for service and sales intelligence – could consider a similar move.
For now, however, Qualtrics remains the chief competitor, and Bishoff will bring some insider knowledge that may help Medallia win more head-to-head deals.
Meanwhile, brands like Verint, InMoment, and PG Forsta will continue to provide competition.
Even More Exec Appointments
Alongside Bishof, Medallia added five more members to its senior leadership team.
Perhaps most notable is the appointment of Sid Banerjee, the founder of Clarabridge, as Chief Strategy Officer. He will work to develop Medallia’s AI story and innovation agenda.
Recognizing Banerjee’s longtime association with Bishof, Jim Davies, Co-Founder and Executive Partner at Actionary, believes both men will play a key role in leading the development of VoC platforms.
“The VoC market has evolved from a focus on survey management and NPS (net promoter score) tracking to a more sophisticated, analytics-driven approach that delivers value through actionable insights and automation,” he noted.
Bishof and Banerjee’s appointments are particularly noteworthy given their deep experience at both Qualtrics and Clarabridge. Their roles at these two pivotal organizations, including Clarabridge’s specialization in text analytics and unstructured data, underscore the increasing importance of advanced analytical capabilities in reshaping the VoC landscape.
“This background positions them as key players in the ongoing transformation of the market,” concluded Davies.
Alongside Bishof and Banerjee comes three more Clarabridge alumni.
First is Bas Brukx, who becomes Medallia’s Chief Financial Officer. He has also held this position at Therapy Brands and Allego.
Next is Ram Ramachandran, the former Chief Technology Officer of Clarabridge. After more recently working as the President of CareJourney, he’ll now take the mantle of Chief Transformation Officer at Medallia.
Third is Karl Knoll, the former General Counsel of Clarabridge. Knoll will reprise this role at Medallia after leaving Qualtrics in April 2023 and working as a Partner at Womble Bond Dickinson.
Last comes the only new executive who does not have a background at Clarabridge. She is Jamie Hunter, who joins the vendor after a year as Chief Operating Officer at Emburse. Hunter will take on the Chief of Staff and Head of Corporate Development roles.
