Sovos Names Veteran FinTech Executive Ruth Fornell Chief Operations Officer

February 9, 2021

Company Announces New Board of Directors Following 2020 Investment

BOSTON February 09, 2021 – Global tax software provider Sovos today announced that Ruth Fornell has joined the company in the newly created role of chief operations officer. Fornell comes to Sovos with extensive experience leading global teams, most recently as a general manager at payment systems company ACI Worldwide. Previously, she held numerous leadership roles during more than 20 years with banking and commerce software provider NCR Corporation. As chief operations officer, Fornell will lead Sovos’ regional teams to ensure a consistent global customer experience fueled by local expertise as the company embarks on its next stage of growth.

Following new investments from Hg and TA Associates in 2020, Sovos is advancing its mission to Solve Tax for Good® amid the converging digital transformation of government, technology and business. The addition of the chief operations officer role augments the Sovos leadership team as the company pursues continued geographic expansion, an expanded partner ecosystem and rapid response to accelerating tax and regulatory change. Sovos also recently seated its new board, including previous and new members from Hg, which first invested in the company in 2016, and TA Associates, which joined as an investor last year.

“Sovos is uniquely positioned to deliver a complete solution for modern tax — including tax determination, continuous transaction control compliance and tax reporting — to support companies doing business all over the world,” said Andy Hovancik, CEO, Sovos. “Ruth’s experience in global operations and enterprise software combined with her passion for building high-performance teams are a great fit for Sovos and this moment in our growth.”

As executive vice president and general manager of retail/consumer payment solutions at ACI Worldwide, Fornell led a global team that defined, developed and brought to market innovative payment solutions for banking and financial intermediary customers. Earlier, she was senior vice president and general manager of professional services at NCR, where she led a $600 million business focused on digital services and channel transformation, as well as a team of 3,800 employees across 58 countries. In her new role, Fornell will provide strategic, operational and programmatic direction to Sovos’ worldwide sales, demand marketing, client operations and customer success teams.

“Throughout my career, I have thrived in situations where I can help cultivate and drive diverse teams toward strategic change and growth,” said Fornell. “At Sovos, I can already see I’ve joined a company that’s focused on delivering results for our customers and fulfilling the clear global vision to remove the friction from tax compliance so businesses prosper and communities thrive.”

Sovos also announced today the seating of its new board, which includes:

  • Jonathan Boyes, partner, Hg
  • Arif Lakhani, vice president, GIC
  • Tjada D’Oyen McKenna, CEO, Mercy Corps
  • Hythem El-Nazer, managing director, TA Associates
  • Dave Habiger, president and CEO, J.D. Power
  • Andy Hovancik, CEO, Sovos
  • Alexander Johnson, principal, Hg
  • Morgan Seigler, managing director, TA Associates
  • Mohit Talwar, senior principal, Ontario Teachers’ Pension Plan
  • Bob White, CFO, Sovos
  • Gero Wittemann, partner, Hg
  • Jonathan Wulkan, principal, Hg

Learn more about Sovos’ global leadership here.

About Sovos
Sovos was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction control compliance, tax reporting and more. The company supports more than 8,000 customers, including half of the Fortune 500, operating in over 70 countries. Its SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout North America, Latin America and Europe, and is owned by Hg and TA Associates. For more information visit http://www.sovos.com and follow us on LinkedIn and Twitter.

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.

Additional Press Releases

Tax Compliance Tax Information Reporting
February 11, 2025
Sovos Achieves SAP Integration Certification Across Its Indirect Tax Suite Solutions

ATLANTA – February 11, 2025 – Sovos, the always-on compliance company, today announced that key components of its Indirect Tax Suite have been individually certified by SAP for integration with SAP technologies. This certification underscores Sovos’ commitment to providing seamless, technically validated integrations for global tax compliance within SAP environments. SAP has certified the technical integration […]

Read more
February 6, 2025
Chris Clinton of Sovos Recognized on the Prestigious 2025 CRN® Channel Chiefs List

ATLANTA, GA, February 6, 2025 – Sovos, the always-on compliance company, today announced that CRN®, a brand of The Channel Company, has named Chris Clinton, Chief Partner Officer, to the prestigious 2025 CRN® Channel Chiefs list, which recognizes the IT vendor and distribution executives who are driving strategy and setting the channel agenda for their […]

Read more
ship alcohol
North America ShipCompliant
January 23, 2025
DtC Wine Shipping Declines in the Face of Industry Headwinds

Sovos and WineBusiness Analytics annual Direct-to-Consumer Wine Shipping Report shows drop as overall wine market downturns  ATLANTA – JANUARY 23, 2025 – With declining trends across the wine and overall beverage alcohol markets, the direct-to-consumer wine shipping channel faced a challenging year in 2024, according to the latest Direct-to-Consumer Wine Shipping Report from Sovos ShipCompliant and WineBusiness Analytics. The […]

Read more
SAP Clean Core implementation
North America VAT & Fiscal Reporting
January 14, 2025
Sovos Named a Leader in 2024 IDC MarketScape for Worldwide Value-Added Tax Management

ATLANTA – January 14, 2025 – Sovos, the always-on compliance company, has been named a Leader in the IDC MarketScape for Worldwide Value-Added Tax Management 2024 Vendor Assessment (Doc # US52732824, December 2024). The report noted, “Sovos VAT compliance solutions and services include full coverage for VAT reporting, continuous transaction control compliance, e-invoicing clearance, post-audit einvoicing, and […]

Read more
webianr - FR Nouvelle ere facturation electronique
North America
December 10, 2024
Sovos Names New Executive Leadership for Global Finance and Product Strategy Functions

David Woodworth and Swati Garodia selected to build and transform critical operation areas for global platform company ATLANTA, DECEMBER 10, 2024 – Sovos, the always-on compliance company, today announced the appointment of two executive leaders. David Woodworth joins Sovos as its chief financial officer (CFO), where he will lead all finance, accounting, tax and treasury […]

Read more