With Friday being an overall bad day for the stock market, particularly technical headlines, it probably wasn’t the ideal time for a major leadership change. was the same with DocuSign (DOCU -2.98%), which tumbled nearly 3% of its share price on the day after announcing a new leader after the market close on Thursday. opposite of that, S&P500 The index lost just 1.7% of its value.
DocuSign announced that Alan Thigeson will become its new CEO effective Monday, October 10th. He will also serve on the company’s board of directors. He replaces Maggie Wildrotter, who was appointed interim CEO in mid-June following the departure of Dan Springer.
DocuSign praised the appointment in the press release, citing WildRotter as saying that Thigeson is “a customer-centric innovator with deep experience in e-commerce, enterprise digitization and high-growth organizations.”
His work history certainly seems to support these claims. He’s a longtime manager with the Corps alphabet The company acts as Google, most recently as its President, US and Global Partners. Previously, he was President of Google Marketing Solutions. Overall, his tenure at Google lasted about 12 years.
Within the technology industry and beyond, Thiggeson is no stranger to the boardroom. He has worked as a director at Business Software-as-a-Service (SaaS) providers ring central and the Stanford Institute for Economic Policy Research, among other institutions.
Investors probably weren’t worried about the upcoming leader’s experience and qualifications. A CEO change is always a reminder that no matter how successful a company is, it is in transition and at least faces some uncertainty. Still, it looks like DocuSign is in good hands, so maybe Friday’s sell-off in the stock was a bit high.
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and DocuSign. The Motley Fool recommends the following options: Long January 2024 $60 call on DocuSign. The Motley Fool has a disclosure policy.