BlackLine Strengthens Board with Strategic Appointment

On March 10, 2025, BlackLine, Inc. (Nasdaq: BL), a leader in finance automation solutions, announced a significant development in its governance structure through a cooperation agreement with Scalar Gauge Fund. This collaboration aims to enhance the Company’s Board of Directors by appointing Scott Davidson, a seasoned professional with extensive experience in the software sector.

As part of the agreement with Scalar Gauge, BlackLine will officially appoint Scott Davidson to the Board no later than March 14, 2025. Davidson will serve as a Class I Director, with his term set to expire at the Company’s 2026 Annual Meeting. His appointment marks a continuation of BlackLine's ongoing effort to refresh its board composition and bring in new perspectives.

Scott Davidson boasts over 25 years of experience in strategy, financial management, acquisitions, and sales & marketing in the software industry. His previous role as Chief Operating Officer at Alteryx equipped him with substantial expertise in digital transformation, cloud transition, and mergers and acquisitions.

Prior to his tenure at Alteryx, Davidson held key leadership positions at Hortonworks, where he served as both Chief Financial Officer and Chief Operating Officer. His leadership was pivotal in guiding Hortonworks through its initial public offering (IPO) in 2014 and its $5.2 billion merger with Cloudera in 2018. Davidson's extensive background positions him well to contribute to BlackLine as it navigates growth and strategic initiatives.

Owen Ryan, Chairman of the Board and Co-CEO of BlackLine, expressed enthusiasm regarding Davidson's appointment. He stated, “As we execute on our strategy, we recognize the value of continuing to add fresh perspectives to the Board. Our Board already has added five new directors since 2023. The appointment of Scott is an additional step in the ongoing refreshment of our Board as we continue to focus on accelerating growth and long-term value creation.”

Similarly, Sumit Gautam, Founder and Portfolio Manager of Scalar Gauge, highlighted the importance of this strategic move. He noted, “We are looking forward to the work Scott and BlackLine’s Board will do to drive shareholder value creation. Over the past few years, the Company has built a strong foundation and is now solidifying its go-forward priorities.”

The cooperation agreement includes customary standstill provisions and voting commitments during its term. BlackLine is set to disclose the full details of the agreement in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission.

BlackLine is renowned for its innovative financial operations platform, designed to drive digital transformation in finance departments. The company specializes in mission-critical processes, ensuring accurate and efficient operations while providing real-time insights through automation and artificial intelligence. With over 4,400 customers, BlackLine’s solutions aim to lead organizations into a future of enhanced financial management.

Scalar Gauge is a special situations investment firm, employing a long-term, private equity approach to public market investments. The firm collaborates with management teams and boards to enhance shareholder value, making it a strategic partner in BlackLine's governance evolution.

The appointment of Scott Davidson to BlackLine’s Board of Directors signals a proactive approach to governance and strategic development as the company continues to prioritize growth and shareholder value. With a seasoned professional like Davidson onboard, BlackLine is well-positioned to navigate the complexities of the software industry while striving to enhance its operational efficiencies and market offerings.