JERUSALEM, May 16 (Reuters) - The chief executive of

NICE Barak Eilam plans to step down at the end of 2024

after a decade at the helm of the Israeli cloud-based software

provider, the company said on Thursday.

NICE said Eilam - who has been with the firm for 25

years in all - will remain CEO until the end of the year to

ensure a smooth transition and that he will actively participate

in the search for his successor alongside the board. Eilam will

act as a strategic consultant during the first half of 2025.

The board, it said, has initiated a CEO search to identify a

successor.

Under Eilam the company became a key player in the

enterprise software market for cloud and AI, while tripling

revenue - with cloud revenue moving from near zero to $1.6

billion - and earnings per share.

"It's the right time to transition the helm of the company

to a new leader," said Eilam, a former Israeli intelligence

officer. "I remain laser focused to deliver our 2024 plan...NICE

has a bright future ahead, and I'm committed to ensuring a

seamless transition."