Salesforce losing its co-CEO

WOW! Huge news! After a decent earnings call, Salesforce drops a real bomb and announces that Bret Taylor, Salesforce Co-CEO and former chairman of Twitter, has resigned, leaving Marc Benioff at the top once again! I think this is the third time this has happened, where Marc can't seem to find a successor or co-CEO. Stock drops huge after the decent earnings report and positive Fed news...what do you think! Sounds bad for the company. But, what about the ecosystem? Little to no effect is my take. https://lnkd.in/gte5dKhQ

Salesforce Announces Solid Third Quarter Fiscal 2023 Results * Revenue of $7.84 Billion, up 14% Y/Y, up 19% Constant Currency ("CC") * GAAP Earnings per Share ("EPS") of $0.21 and Non-GAAP EPS of $1.40 * Current Remaining Performance Obligation of $20.9 B, up 11% Y/Y, 15% CC * Fourth Quarter FY23 Revenue Guidance of $7.932 to $8.032 B, up 8% to 10% Y/Y, 12% to 13% CC * Full Year FY23 Revenue Guidance of $30.9 to $31.0 B, up 17% Y/Y, 20% CC * Full Year FY23 GAAP Operating Margin Guidance of ~3.8% and Non-GAAP Operating Margin Guidance of ~20.7% * Full Year FY23 Operating Cash Flow Guidance of ~16% growth Y/Y * Returned $1.7 Billion to shareholders in the third quarter in the form of share repurchases #salesforce

Wow, Bret Taylor is leaving Salesforce. That’s a stunner. Wonder what Taylor - who also had been chairman of Twitter - will do next. Would note he’s also had senior roles at Facebook and Google. #salesforce

More on the Bret Taylor news from CNBC. This movie has been played before for @Salesforce and I am confident that there won't be too many hurdles with @Benioff retaking the helm solo. #Tech #SaaS $CRM https://lnkd.in/gYmZFdws

Bret Taylor announces he is stepping down. Quick take: this is a great time to start a business between the available talent and depressed prices for assets. Mega tech companies aren’t as attractive when the stock continues to fall. Slack was a big acquisition that, while useful, will struggle to justify its purchase price. Also, Salesforce is just the latest in a string of big companies finding out how hard it is to find a long term successor (see Oracle, Disney, Microsoft in the Ballmer years)

Salesforce shakeup: Co-CEO Bret Taylor to depart. After six years, the former Quip, FriendFeed co-founder says he's going back to his "entrepreneurial roots." His last day will be Jan. 31, 2023. After Salesforce acquired Quip, Taylor rose in the ranks, eventually becoming president/COO and then co-CEO alongside co-founder Marc Benioff — Benioff will become sole CEO now. Taylor oversaw the acquisition of Slack, Tableau, Mulesoft and other deals, and played a prominent role at Salesforce conferences, including its signature Dreamforce event. Can't wait to see what Taylor builds next...maybe the next-generation of FriendFeed? Okay, enough jokes...congrats on a great run and looking forward to hearing what's next. Maybe I can help? ?? #business #leader #management #tech #enterprise #cloud #salesforce https://lnkd.in/g59eiJkH

Shocker: One year after Bret Taylor was promoted to co-CEO of Salesforce alongside Marc Benioff, the company announced he's leaving. He was widely considered the heir-apparent in case Benioff ever considered leaving, but it looks like the voluble founder will be sticking around for the foreseeable future.

BREAKING NEWS: Just ahead of Salesforce's Q3 Earnings, announcement made that Bret Taylor is stepping down as co-CEO of Salesforce and is leaving #Salesforce to return to his "entrepreneurial roots"...I did not see this one coming.