New York
CNN
—
Enterprise tech giant Salesforce said Wednesday that its co-CEO and vice chairman, Brett Taylor, will step down. Salesforce co-founder Marc Benioff, who served as co-CEO alongside Taylor, will continue to run the company and serve as chairman of the board, the company said in a statement. Press Releases.
Taylor used to work at Salesforce
(Customer Relationship Management) For six years, most recently served as president and chief operating officer before being promoted to co-CEO last November. He will officially step down on January 31, 2023. In a statement, Benioff called Taylor’s decision to resign “bittersweet.”
“After much thought, I have decided to return to my entrepreneurial roots,” Taylor said in a statement. “Salesforce has never been more relevant to customers, and with its top-notch management team and company executing at full speed, now is the right time for me to leave.”
Before joining Salesforce, Taylor founded and led the collaboration platform Quip, which Salesforce acquired in 2016 for $750 million. Taylor also served as chief technology officer during Facebook’s IPO.
taylor’s move was in tough times As for Salesforce, its stock price has fallen about 40% since the beginning of the year due to the economic downturn.The announcement coincides with Salesforce’s third-quarter earnings Reportin which the company said it expects fourth-quarter revenue to be at the low end of analysts’ expectations.
Shares of Salesforce fell more than 6% in after-hours trading after the earnings report and announcement of leadership changes.
Taylor also had a busy year outside of Salesforce. As the former chairman of Twitter’s board, he was responsible for leading the company through Elon Musk’s tumultuous acquisitions and lawsuits.Musk formally finalized his $44 billion acquisition of the company last month and will soon to dissolve Board of Directors.