Aneel Bhusri, CEO, Workday, talking on the World Economic Forum in Davos, Switzerland, Jan. 23, 2020.
Adam Galucia | CNBC
Workday mentioned on Tuesday that co-CEO Chano Fernandez is leaving the corporate and being changed by Sequoia Capital’s Carl Eschenbach, a former VMware govt and member of Workday’s board.
Eschenbach will serve alongside Aneel Bhusri, who co-founded the corporate in 2005. Workday mentioned Eschenbach is anticipated to turn into the corporate’s sole CEO after January 2024, when Bhusri will transfer to the position of govt chair.
Workday shares fell 2% in prolonged buying and selling after the announcement. The inventory is down 37% this 12 months.
Bhusri began Workday, which sells cloud-based human sources and monetary software program, with Dave Duffield and has since run the corporate with totally different co-CEOs for a number of intervals. Bhusri and Duffield shared CEO tasks from 2009 to 2014, when Duffield stepped down. Bhusri turned a co-CEO once more in 2020 with the appointment of Fernandez, a former SAP govt who joined Workday in 2014.
Before Workday, Bhusri held management roles at PeopleSoft, which Oracle acquired in 2005 for $11.1 billion.
Eschenbach has spent near seven years at Sequoia, sitting on the boards of cloud software program corporations Zoom, Snowflake and UiPath, which had been all within the agency’s portfolio. He was beforehand president and working chief of VMware.
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