Jay Love, a veteran technology executive and serial entrepreneur, is stepping down from his CEO position at Bloomerang LLC, the company announced Monday.
Love, 62, co-founded Bloomerang, which sells donor-management software to not-for-profits, in October 2012, and has served as its chairman and CEO since then. He resigned from his CEO post July 1, but will remain board chairman and will work on a part-time basis as chief relationship officer.
Bloomerang co-founder Ross Hendrickson replaced Love as chief executive. He was previously chief operating officer and chief financial officer.
In written remarks, Love said the succession plan "has been in place since Bloomerang's founding" and that he plans to remain involved with Bloomerang operations.
"This is not your typical retirement announcement,” Love said. "I plan on staying involved with the executive team for many more years to come. Even though this new role will allow me to spend more time with family and charitable interests, it will also allow me to spend more one-on-one time with Bloomerang customers and partners."
Bloomerang, 5625 N. Post Road, has 76 employees, up from fewer than 10 in 2013.
Before co-founding Bloomerang, Love served as the CEO of eTapestry, which was acquired for $25 million in 2007. He later served as CEO of the digital marketing firm Slingshot SEO, but left after less than a year at the helm.
He also is former CEO of Social Solutions and Master Software.
Love has been involved with a number of not-for-profit boards. He's a former board for the Indiana University Lilly Family School of Philanthropy, past chairman of the Association of Fundraising Professionals Ethics Committee, founding board member of the TechPoint Foundation for Youth and founding chairman of NPower Indiana.
He's a current board member for Conner Prairie and the Butler University Innovation Fund in Indianapolis.
"Over the last five years, Jay has assembled and cultivated an amazing leadership team," Hendrickson said in written remarks. "I look forward to building on the strong foundation that he has laid."