Skip to main content

DocuSign has hired former Google ad exec Allan Thygesen as its new CEO

DocuSign announced today that it has hired Allan Thygesen as its next CEO, effective October 10. Thygesen was most recently at Google where he was president of the Americas and global partners.

He was in charge of Google’s $100 billion advertising business in the Americas, a rather significant business by any measure, and a position that should prepare him for his new job.

He joins a company that continues to lead the e-signature business, but one where the stock price has taken a significant beating, dropping 80% over the past year and 65% year-to-date.

For the most recent earnings report, the company reported healthy revenue of $622 million, a 22% increase over the prior year. This is a company on a run rate of almost $2.5 billion, certainly the bones of a healthy business.

Those stock losses, however, are numbers that make boards and investors want to take action, and former CEO Dan Springer, who had been with the company for the previous five years, stepped down in June, likely seeing the writing on the wall.

Maggie Wilderotter, who has served as interim CEO since Springer’s departure, sees Thygesen as a person with the experience to help the company move forward. “He is a customer-focused innovator with deep experience in e-commerce, the digitalization of business, and leading high-growth scale organizations. The Board believes that Allan is the right leader to help DocuSign continue to capture the massive market opportunity that lies ahead,” she said in a statement.

Certainly DocuSign is a company that is built for the digital age, removing a lot of the friction around signing and moving documents through a workflow. The company recently announced end-to-end contract lifecycle management inside of Slack. Earlier this year, it announced document signing inside of Zoom.

Both of these moves should help increase the use of the product inside popular enterprise SaaS products, and should bode well for the future of the company.

According to data from Deloitte, DocuSign is the clear e-signature market leader, with 75% market share. Competitors include Adobe Sign, HelloSign from Dropbox and Box Sign.

Wilderotter will return to her previous position when Thygessen starts on October 10.

Investor demands for profitability catch tech companies flat-footed

DocuSign has hired former Google ad exec Allan Thygesen as its new CEO by Ron Miller originally published on TechCrunch



source https://techcrunch.com/2022/09/22/docusign-has-hired-former-google-ad-exec-allan-thygesen-as-its-new-ceo/

Comments

Post a Comment

Popular posts from this blog

Max Q: Psyche(d)

In this issue: SpaceX launches NASA asteroid mission, news from Relativity Space and more. © 2023 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/h6Kjrde via IFTTT
Post a Comment
Read more

Max Q: Anomalous

Hello and welcome back to Max Q! Last week wasn’t the most successful for spaceflight missions. We’ll get into that a bit more below. In this issue: First up, a botched launch from Virgin Orbit… …followed by one from ABL Space Systems News from Rocket Lab, World View and more Virgin Orbit’s botched launch highlights shaky financial future After Virgin Orbit’s launch failure last Monday, during which the mission experienced an  “anomaly” that prevented the rocket from reaching orbit, I went back over the company’s financials — and things aren’t looking good. For Virgin Orbit, this year has likely been completely turned on its head. The company was aiming for three launches this year, but everything will remain grounded until the cause of the anomaly has been identified and resolved. It’s unclear how long that will take, but likely at least three months. Add this delay to Virgin’s dwindling cash reserves and you have a foundation that’s suddenly much shakier than before. ...
Post a Comment
Read more

What’s Stripe’s deal?

Welcome to  The Interchange ! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up  here  so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of the previous week. This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. There’s a lot of fintech news out there and it’s my job to stay on top of it — and make sense of it — so you can stay in the know. —  Mary Ann Stripe eyes exit, reportedly tried raising at a lower valuation The big news in fintech this week revolved around payments giant Stripe . On January 26, my Equity Podcast co-host and overall amazingly talented reporter Natasha Mascarenhas and I teamed up to write about how Stripe had set a 12-month deadline for itself to go public, either through a direct listing or by pursuin...
Post a Comment
Read more