Salesforce co-CEO resigns after disappointing business outlook

Bret Taylor

The co-boss will give up the post at the end of January.

(Photo: IMAGO/IP3press)

san francisco The US software manufacturer Salesforce surprisingly loses one of its top managers. That doesn’t go down well with investors. Co-CEO Bret Taylor is leaving his post at the end of January, as the company announced on Wednesday after the US stock market closed. Company co-founder Marc Benioff will then become the sole CEO and head of the board of directors.

Taylor had been with Salesforce for six years and was promoted to dual leadership with Benioff just a year ago. Previously, he was responsible for day-to-day business on the Management Board.

The resignation was not well received on the market, and the share initially fell by more than six percent in after-hours trading. Salesforce also issued a disappointing business outlook for the fourth quarter. In the past third quarter, revenues increased by 14 percent to $7.8 billion. However, significantly higher operating expenses caused profits to collapse to $210 million from $468 million in the same period last year.

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