Lawson CFO Leaves for Same Post at Digital River

Stefan Schulz, who has served as Lawson Software's CFO since January 2010, will assume the same position at e-commerce solutions provider Digital River.

Lawson Software Chief Financial Officer Stefan Schulz is leaving to join Minneapolis-based Digital River, Inc., as its CFO.

In his new role, Schulz will be responsible for the company's accounting, finance, tax, and investor relations activities-and he'll report to Digital River CEO Joel Ronning.

Schulz will succeed Tom Donnelly, who was promoted to the position of Digital River president in March.

Schulz joined St. Paul-based Lawson Software in 2005 and became its CFO in January 2010. About a week ago, GGC Software Holdings-an affiliate of Golden Gate Capital and Infor-completed its $2 billion acquisition of Lawson. Schulz's LinkedIn profile still lists Lawson as his current employer.

“Stefan is an experienced, results-oriented financial executive,” Ronning said in a statement. “He is a natural fit for our organization and brings tremendous value to our future growth plans.”

Prior to working at Lawson, Schulz served as corporate controller and vice president of revenue operations at BMC Software, Inc., and worked in the audit and business advisory practice at Arthur Andersen, LLP.

“Digital River has a history of delivering a world-class e-commerce solution backed by proven experience and best-in-class process and technology, and has a tremendous opportunity for future growth,” Schulz said in a statement. “This is an exciting time for the company and industry. I am looking forward to helping Digital River build on its successes and accelerate its expansion into new markets and geographies.”

Digital River provides global e-commerce solutions and builds and manages online businesses for more than 40,000 software and game publishers, consumer electronics manufacturers, distributors, online retailers, and affiliates. Founded in 1994, Digital River is among Minnesota's 60-largest public companies based on revenue, which totaled $363.2 million.