Venture-backed startup Formulus Black, based in Jersey City, announced it appointed Mark Iwanowski as its new chief executive officer.
Iwanowski is both an experienced senior executive of international technology companies, and a veteran of venture capital in IT, software, communications and clean technology startups. Iwanowski replaces Carr Bettis who, for personal reasons, has stepped down as CEO and executive chairman.
Most recently, Iwanowski served as CEO and president of Global Visions-SV Inc., a global consulting group focused on venture, M&A, and other early-stage companies. At Global Visions he supervised the selection, mentoring and seed funding of 20 promising startups in the Republic of Georgia. Prior to that, he was managing director of Trident Capital, a top-tier VC with an average IRR exceeding 30 percent.
Iwanowski spent four years at Oracle Corp. as senior vice president, Global IT and chief innovation officer to guide Oracle into the Software as a Service (SaaS) business He was also involved in the acquisition and integration of approximately $30 billion of complementary technology companies.
For five years prior, he was chief operating officer of Science Applications International Corp.’s Telecom and IT outsourcing consultancy. He has also held executive positions with Raytheon, Honeywell, Applied Remote Technology, Quantum Magnetics and Neohapsis.
Iwanowski serves on Richard Branson’s Virgin Galactic – The Spaceship Co.’s advisory board, which recently made its first successful commercial flight into space.
He played professional football for the New York Jets, Oakland Raiders and Kansas City Chiefs and holds a bachelor’s degree in engineering from the University of Pennsylvania, a master’s degree in engineering from California Institute of Technology, and an M.B.A. from National University.
