The reshuffling of the top executives will impact the tech giant which was taken over by Salesforce in July 2021 for more than $ 27 billion in its largest acquisition.Īnurag Rana, a senior analyst at Bloomberg Intelligence opines that Butterfield's exit will be a “risk for the company, given other high-profile executive departure in the past few months".
The tech giant will also see the exit of two more executives, informed Slack on Monday. The data projected a further decline in its sales gains in the current quarter ending in January 2023. Salesforce reported its smallest YoY quarterly revenue growth since its public listing in 2004.
Slowing growth, thinning executive ranks pose challenge for Salesforce in regaining investors' confidence The share price has gone down by 47 per cent this year, reported Bloomberg.
Salesforce stock hit its lowest closing price since March 2020 after falling by 7.4 per cent to $133.93 in New York. This led to a sharp fall in the company's share prices in stock markets. In his memo, Butterfield appreciated Jones and was ‘instrumental in choosing her as the successor of the company, a company spokesperson told Bloomberg.īret's exit came in tandem with the release of the third-quarter earnings of Salesforce, which reflected the slow growth of the company.
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