Peter Bauert is the current Chief Finance Officer and Chief Operating Officer of Parallels Inc., which have launched the new automaton software applications and award-winning virtualization program. He is responsible of all operational and administrative functions of the company, including accounting, IT, finance, legal and administration. He accepted the job more than 3 years ago in March 2008 and ever since then has continued to assume the responsibilities for its new innovations and growth.
Prior to becoming Parallels CFO and COO, Peter Bauert was first an Executive Vice President for Strategy and Operations at Fast Search and Transfer a public company in the software industry as well in 2002 to 2007. He single handedly defined the roadmap for the increase in revenue from $30 million in 2002 to $135 million in 2007. Peter Bauert accomplished this by establishing a New Business Development Group to provide a go-to-market approach which was responsible for over 70% of the new revenue that came in. He led and restructured the alltheweb.com business unit which resulted in a 250% increase in monetization in 6 months. Among the responsibilities, he assumed as EVP was:
- Leading and Managing the M&A activities , acquisition of the Alta Vista Enterprise Search and Next Page as well as other smaller acquisitions and the $100 million sale of the Internet Business Unit to Overture;
- Joint Ventures with Telestra and Rakuten to ensure Fast Search’s international growth;
- Personally closing around $10 million of sales transactions and
- Led the management of $40 million annual G&A budget and operational leadership for human resources, information systems and financial operations.
The Professional Career of Bauert pegged its start as a Development Manager for Siemens Stromberg Carlson in 1989 and his being a Consultant for Bain & Co. in 1996, VP for Corporate Development in Cybergold in 1997 and CFO of SalesDriver in 2002 before becoming the EVP at Fast and Search. Since then he continued to rise to unparalleled heights to his present post in Parallel. His summaries of qualifications are: extensive experience in strategic planning, business development, financial operations, business operations, joint ventures, mergers and acquisitions, technology licensing, and P&L responsibility, his outstanding record of growing businesses, improving operating performance, and realizing exit potentials. His success and experience in these fields made him the man he is today- an icon of technology.