Sapiens International Corporation N.V. has unveiled a sweeping set of senior leadership changes as it enters a new chapter as a privately held company following its acquisition by global private equity firm Advent.
The acquisition marks a major milestone for Sapiens, which announced the transaction on 13 August 2025. It was approved by shareholders at an Extraordinary General Meeting on 19 November 2025 and formally completed on 17 December 2025 after receiving all required regulatory approvals.
With the deal closed, Sapiens’ common stock has ceased trading and is no longer listed on NASDAQ or the Tel Aviv Stock Exchange. The company will now operate as a private business owned by Advent, with Formula retaining a minority stake.
Under Advent’s ownership, Sapiens is expected to push forward with an expanded innovation roadmap and broader global footprint.
A defining moment in this transition is the departure of long-serving leader Roni Al-Dor. After two decades at the helm, Al-Dor will step down as president and CEO on 31 December 2025. He has been central to Sapiens’ evolution into a global insurance software provider and played a key role in delivering the transaction with Advent.
Sapiens president and CEO Roni Al-Dor said, “It has truly been a privilege to lead Sapiens through its incredible growth journey. I’m deeply grateful to the talented teams and loyal customers who have shaped the company’s success. As we commence the next chapter under Advent’s ownership, Sapiens is poised for an exciting next phase. I’m confident the company will continue delivering modern, resilient solutions and helping insurers navigate complexity and build intelligent, technology-enabled businesses.”
To guide the business through this period of change, the board has appointed Mike Ettling as executive chairman. Ettling will also serve as interim CEO while a search is conducted for a permanent chief executive.
Incoming executive chairman Mike Ettling said, “Sapiens is a recognized leader in insurance technology and a critical partner to insurers navigating rapid change. I am privileged to have the opportunity to steward Sapiens and its 5,400 committed and innovative people in the next phase of their growth journey. Together with the leadership team, I look forward to building a new AI-driven customer-centric future for Sapiens.”
Alongside this change at the top, Sapiens has strengthened its executive team with several key appointments effective 17 December. Paul Wheeler joins as CFO, bringing more than 30 years’ experience in technology and private equity-backed environments, including senior roles at Operative, Trema, ION Trading and Efront.
Dr Ernesto Marinelli has been named chief people success officer after a three-decade career in global HR leadership, most recently at Advent-backed Aareon and previously at SAP. James Hannay becomes CRO, tasked with leading all go-to-market activity and scaling SaaS-driven recurring revenue, drawing on senior roles at HCL Software and across the financial services sector.
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