New Charter Technologies, a portfolio company of the Palo Alto-based private equity firm Oval Partners, revealed a significant leadership change during its 2024 Kickoff event.
The company announced that Founder Mitch Morgan will assume the role of executive chairman, while Peter Melby has been appointed as the new CEO.
This transition is part of New Charter's strategy to bolster its innovation and growth, according to the company.
Mitch Morgan, founder, New Charter, commented:
"New Charter's growth has exceeded twice the rate of our initial projection, and we've achieved it by building the most desired home for best-in-class MSPs who want to continue their entrepreneurial journey."
Peter Melby, previously the CEO of Greystone Technology, a New Charter Technologies company, and the current CRO of New Charter, brings extensive experience in operational excellence and innovation to his new role as CEO, the company said.
His background is expected to guide New Charter through its next expansion phase while maintaining a focus on organizational culture and employee development.
Addressing Industry Challenges
The leadership change is framed against the backdrop of current challenges in the IT service industry regarding scale and maturity.
"It's a difficult time to be an IT provider without scale and maturity,” said Melby. “At the same time, many attempts to scale IT service organizations have driven misalignment between the business and their employees and customers.”
Both Morgan and Melby expressed optimism about the future, emphasizing the technology-driven shift in the industry.
