DocuSign names former Google executive Allan Thygesen as new CEO

Alan Tykeson, president of Google Americas, speaks with Rudberg’s Rajiv Chand at the Rudberg Conference in Half Moon Bay, California.

Ari Levy | CNBC

Document identification Shares of the electronic signature software maker rose more than 3% in extended trading after declared It has employed one letters Its next CEO is Alan Tykesson. The announcement comes three months after DocuSign said Dan Springer, its CEO for the past five years, has stepped down.

Like other cloud software companies, DocuSign has experienced increased interest among investors during the Covid pandemic as consumers and corporate workers increasingly rely on digital ways to sign documents. But interest has declined. Despite the after-hours move, DocuSign shares are down 64% so far this year.

Thiegesen will join the company’s board on October 10th, replacing Maggie Wilderotter, Dacusine’s chair and interim CEO. Thygesen spent nearly 12 years at Alphabet subsidiary Google, where he was most recently head of Americas and global partnerships. According to him, he was responsible for $100 billion in Google ad revenue in that role LinkedIn profile. He sits on the board of Cloud Communications Ring Central.

DocuSign earlier this month reported 22% revenue growth in the quarter ended July 31, compared with 58% growth in 2021.

The company went public on the Nasdaq in 2018, and faces competition from the likes Adobe, with its Acrobat Sign service. Springer said at the UBS conference in December that Adobe is focusing on value selling, saying, “Hey, we can’t be as good as DocSign.”

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