Software management company AppDynamics named David Wadhwani as its chief executive, replacing founder Jyoti Bansal, who will become chairman and chief strategist.

Wadhwani joins AppDynamics from Adobe Systems Inc where he oversaw the Photoshop maker’s digital media business, and also has product experience at Oracle Corp, AppDynamics said.

Privately held AppDynamics, founded by Bansal in 2008, helps businesses manage, monitor and analyze their software applications.

The company was valued at more than $1 billion as of July last year when it disclosed a $120 million funding round.

(Reporting by Sai Sachin R in Bengaluru; Editing by Maju Samuel)

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