Formulus Black welcomes new CEO

Venture-backed, Jersey City-based startup Formulus Black announced Monday it has appointed Mark D. Iwanowski as its new CEO.

Iwanowski will be replacing Carr Bettis, who is stepping down from his role as executive chairman and CEO due to personal reasons.

Iwanowski most recently served as CEO and president of Global Visions-SV Inc. Before that, he was managing director of Trident Capital.

“I have been on both sides of the conference table, as a startup executive and a VC, and, from an operational and capital-raising perspective, Formulus Black is a unique opportunity,” Iwanowski said. “Today, high-performance computing, analytics, machine learning and artificial intelligence applications are the rule, not the exception, in industries like finance, automotive, telecom, energy, defense and bioscience — Formulus Black’s Forsa software is a transformational technology for these environments.”

Iwanowski spent four years at Oracle Corp. as senior vice president, global IT and chief information officer. For five years prior, he was chief operating officer of Science Applications International Corp.’s telecom and IT outsourcing consultancy. He’s also held executive roles with Raytheon, Honeywell, Applied Remote Technology, Quantum Magnetics and Neohapsis.