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Bret Taylor steps down as co-chair and CEO of Salesforce TechCrunch


It’s been quite a roller coaster ride for Brett Taylor last year. A year later he has neither job.

When Elon Musk took office last month, Taylor lost his job as president of Twitter and quickly dissolved Twitter’s board. Today, he stepped down as co-CEO of Salesforce and made a shocking announcement that seemed to come out of nowhere.

“After much consideration, I have decided to go back to my entrepreneurial roots. Salesforce is more customer-relevant than ever, and with a best-in-class management team and company running on all cylinders, now is the time. Now is the right time for me to leave,” Taylor said in a statement announcing his resignation.

Taylor, who helped buy Slack for $27 billion in 2020, seemed set to take over whenever founder and CEO Marc Benioff decided to step down. Now he’s gone and it’s not clear what has changed.

Benioff called the co-CEO’s departure a “bittersweet moment” and said he’s always been his biggest advocate. He echoed Taylor’s words about returning to his entrepreneurial roots. , Taylor may have been really sick of running a big company, but it seems like an odd timing, right after appearing on stage with Benioff at Dreamforce in September.

He joined in 2016 when Salesforce acquired its former company, Quip, for $750 million. He was quickly promoted and was president and chief operating officer before being promoted last year. Before he joined Salesforce, he started Quip, the early social network, where he was CEO, and then from 2009 until 2012, where he was CTO at Facebook. I was.

Taylor hinted that the company did well, but the company’s stock is down 34% compared to last year (a fair year when SaaS stocks generally took a hit). It also does business with investor Starboard Value. It’s unclear if this had anything to do with his resignation, or if there was some friction between the two over the timing of their roles and replacements.

Holger Mueller, an analyst at Constellation Research, suspected that taking over as sole CEO was simply too long for Taylor to wait, and perhaps he had another job in another location. I thought it might be. “Taylor may have the only CEO position slated for 2023. [succession] schedule. Apparently the co-CEO model is too long for junior partners,” Mueller told TechCrunch.

It’s worth noting that this isn’t the first time Salesforce has had a co-CEO, and a junior partner has chosen to leave the company. In 2018, Benioff appointed Keith Block as co-CEO, a position he would hold until his resignation in 2020.

Mueller says the co-CEO role will allow the company to continue uninterrupted even if one of the partners leaves. “However, Salesforce is unlikely to lose momentum like it did when his Keith Block stepped down, so it once again demonstrates the power of the two-CEO model. [in 2020]”

Salesforce stock is down almost 7% in the hours after the news.




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