Contract lifecycle management is having a leadership moment just as the category tries to position itself as core revenue infrastructure rather than a legal back-office tool. Icertis, one of the largest CLM vendors serving enterprise sales and procurement teams, announced a CEO transition on July 17. Rajat Bahri, the company’s CFO since 2022 with prior finance leadership roles at ID.me, Wish, Jasper Technologies, and Trimble, and Jim Moffatt, an Icertis board member since 2022 and former vice chairman and global CEO of Deloitte Consulting, will serve as interim co-CEOs. Moffatt also becomes board chair. Outgoing CEO Anand Subbaraman, who joined in 2024, moves into an advisory role while the board runs a formal external search.
Board member Penny Pritzker called the moment one where “Icertis is entering an exciting new chapter from a position of strength,” while Moffatt credited Subbaraman’s tenure with expanding the company’s AI capabilities, the specific asset the incoming leadership will be expected to build on.
Why it matters for revenue leaders: CLM has spent the last two years repositioning itself away from “digital filing cabinet for contracts” and toward a system that sits inside the revenue workflow, tracking obligations, pricing terms, and renewal triggers that sales and RevOps teams increasingly need in real time. A co-CEO structure during an active AI product push is an unusual governance choice, and it signals the board sees enough momentum in that AI strategy to prioritize continuity of the finance and board relationships over a rushed permanent hire. For enterprise buyers currently evaluating or renewing CLM platforms, the real diligence question is not who holds the CEO title but whether product and AI roadmap commitments made under the outgoing leadership survive the transition intact, the same governance question now facing Salesforce systems integrators racing to build AI-ready foundations into their delivery work.
Source: Icertis
