Matty-Sways

Keith Block is stepping down as Co-CEO, thus ending the dual CEO model that Salesforce had pursued.

Marc Benioff will serve as the business software company’s sole CEO. Block had served in the role for a total of 18 months. The original setup had Benioff focusing on the long term aims of the company while Block focused on day to day tasks that kept the company operational. Block’s new role will be to advice Benioff.

“Keith is an incredible leader and close friend who has helped position us as a global leader and deeply strengthened our company,” Benioff said.

Some were caught by surprise at the announced change in leadership since Salesforce had delivered better than expected revenue figures during the fourth quarter. Additionally, while Block had served as Co-CEO, revenue had quadrupled to $17 billion.

Salesforce is a business software company whose products focus primarily on business-client relations. It was founded in 1999 and has served as a major competitor to Oracle. One of its new business aims is to increase its market share by making key acquisitions. It recently acquired Tableau for $15 million.

Read full story here.

Comments

Economics, Finance and Investing

FEATURED
COMMUNITY