Salesforce co-CEO resigns after disappointing business outlook

Salesforce co-CEO resigns after disappointing business outlook

Bret Taylor

The co-boss will give up the post at the end of January.

(Photo: IMAGO/IP3press)

san francisco The US software manufacturer Salesforce surprisingly loses one of its top managers. That doesn’t go down well with investors. Co-CEO Bret Taylor is leaving his post at the end of January, as the company announced on Wednesday after the US stock market closed. The sole CEO and head of the board of directors would then become a co-founder of the company Marc Benioff.

Taylor was with for six years Salesforce and only a year ago was promoted to the dual leadership with Benioff. Previously, he was responsible for day-to-day business on the Management Board.

The resignation was not well received on the market, and the share initially fell by more than six percent in after-hours trading. Salesforce also issued a disappointing business outlook for the fourth quarter. In the past third quarter, revenues increased by 14 percent to $7.8 billion. However, significantly higher operating expenses caused profits to collapse to $210 million from $468 million in the same period last year.

More: iPhone shortage in the Christmas business: Apple is facing a huge loss of production in China

Top jobs of the day

Find the best jobs now and
be notified by email.

Source link