Former ISS Chief Executive named interim chief at XBRL firm

Connolly takes role as CEO steps down

John Connolly, the former president and chief executive of proxy firm Institutional Shareholder Services, is to take over as interim CEO at loss-making XBRL data firm Edgar Online.
Connolly, who already sits on Edgar Online’s board, will take over from Philip Moyer, who has resigned for “personal reasons”. The departure follows a merger agreement with XBRL software firm UBmatrix announced in June and the departure of chief financial officer John Ferrara in March.
Connolly – currently an operating partner of Bain Capital Ventures – headed ISS until it was bought by RiskMetrics in 2006. The pair are now part of index firm MSCI.
He will be working alongside former ISS colleagueDiana Bourke, who joined Edgar Online as Chief Operations Officer in April. She was most recently CEO at Inveshare, a shareholder communication and voting firm.
Edgar Online, which is not affiliated with the Securities and Exchange Commission’s online “EDGAR” filings system, provides XBRL (eXtensible Business Reporting Language) filing services, data and analysis. XBRL is an open language for the reporting of corporate financial data.
Last month it reported a $1.2m operating loss for the second quarter on revenues of $5m and said it was “unlikely to see consistently sequential quarter on quarter growth”. Link to Edgar Online announcement