Salesforce CEO quits-Shares fall
2022.12.01 10:07
Salesforce CEO quits-Shares fall
Budrigannews.com – On Thursday, Salesforce New York shares: Inc dropped about $10 because Wall Street was stunned by the sudden transition of co-CEO Bret Taylor and raised questions about the specifics of having two executives.
His return after only one year of his work in this post means a slowdown in the profitability of software companies, because they face tough competition from MSDAQ: raising dollars and reducing business costs amid rising inflationary growth.
At least 17 brokers lowered their stock prices, JP Morgan analysts lowered their share prices by 45 to $200, which was the sharpest drop.
According to analysts at Jeffers, “the CEO model doesn’t work with two layoffs in three years.” Taylor is an experienced technical specialist who worked at the NaSDAQ Facebook Meta Platforms Corporation: Director of Technology, as well as at Twitter.
After 6 years, the head of the company leaves Salesforce, located in San Francisco, leaving co-founder Marc Benioff in charge. In 2021 Benioff invited Taylor to the position of CEO of Oracle to change the NYSE: Director Kit-Block resigned due to the pandemic.
Taylor participated in the development of the Salesforce program that allows companies to effectively manage communication with customers and is the main driving force behind the purchase of the Workspace messaging platform by Slack Technologies for $27.7 billion: Former chief operating officer and product director of the company.
In an analyst article, Needham wrote:”We believe this change of leadership is a significant blow, given its leadership role in the product.” On Wednesday, before the Salesforce earnings report for the 3rd quarter, the company’s shares increased by 5.7 and increased by 37.
