Teradata Corporation

Thank you for standing by and welcome to the Q1 2020 Teradata's earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. If you require any further assistance, please press star zero. I would now like to hand the conference over to Nabil Elshashe, SVP, Corporate Development and Investor Relations. Please go ahead.

Good afternoon and welcome to Teradata's 2020 First Quarter Earnings Call. Vic Lund, Teradata's interim president and chief executive officer, will lead today's call, followed by Scott Brown, Teradata's chief revenue officer, and then Mark Culhane, Teradata's CFO, will then discuss our financial results. Our discussion today includes forecasts and other information that are considered forward-looking statements. While these statements reflect our current outlook, they are subject to a number of risks and uncertainties that could cause actual results to differ materially. These risk factors are described in today's earnings reliefs. Paradata's most recent 10K with the SEC and in the form 10Q for the quarter ended March 31, 2020, expected to be filed with the SEC in the next few days. We undertake no duty or obligation to update our forward-looking statements. On today's call, we will be discussing certain non-GAAP financial measures which exclude such items as stock-based compensation expense, Thank you. Thank you.

Thank you, Nabeel. I am pleased to be one of the first to extend a warm Teradata welcome to our next CEO. As I am sure you have all seen by now, the Board of Directors has elected Steve McMillan as the next President and CEO of Teradata. Steve was a unanimous selection by the full Board of Directors following an extensive search that included many qualified candidates. In today's announcement, Mike Giannone, our chairman of the board covered some of the reasons for Steve's selection. He brings outstanding credentials in operational leadership, has a wide ranging business background with a history of focused execution which is one of our key initiatives. He has led successful transformation efforts with issues relevant to our own. And most importantly, he leads with a customer focus which has always been one of Teradata's main strengths. Steve has a collaborative and open leadership style and I am sure that the Teradata team will rally around and support him. He has a proven ability to bring people together to achieve outstanding results and is precisely the leader Teradata needs as we accelerate our transformation, customer success, product innovation and return to growth. Turning to where we are today, we, like every other company in the universe, have been impacted by COVID-19. However, we are seeing that our years of building strong customer relationships and our long-standing position of delivering mission-critical analytics is helping us in these challenging times. You will hear from Scott and Mark that while we have been impacted, we are working from a solid base. Given the current environment, We believe we will deliver a reasonable financial performance while at the same time continuing to invest in what will make our business even better as we move past the impact of COVID-19. As a reminder, on the last two calls, I have outlined that we need to make progress around these areas, accelerating our transformation to the cloud. We are well underway with our efforts to position us as an even stronger competitor in the cloud. Driving consumption advantage, and Scott will share a number of examples of our continued progress against these goals. Finally, expanding our market opportunities. Despite the interruptions caused by the pandemic, our focus on customer success and building strong partnerships continues. Most importantly, we have built a strong and cohesive ELT that is working together as a collaborative and well coordinated team with common focus and goals. You all know that we have upgraded a number of our leaders and I can say this is the best team I have been around in my 20 years of association with Teradata. I know that this top notch group of executives will help Steve ramp quickly. So while we know that this year is not going to be easy, I am confident that we have plans in place to allow us to make measured and rational decisions about driving our business through these extraordinary times. Before we move to Scott, I want to express my pride in the resilience of our Teradata folks. With the COVID-19 outbreak, we took immediate action to protect the health and safety of our people. and shifted to a remote work environment for nearly all of our people. And during all of this, our great Teradata team kept executing on our priorities. You'll hear about some of our actions from both Scott and Mark. With that, I will turn it over to Scott.