C-Suite Transitions – Management Shakeup At Salesforce

Welcome to edition 18 of  C-Suite Transitions, a new weekly series on InsideArbitrage that tracks appointments and departures at publicly traded companies during the prior week. We highlight five appointments and departures each week by picking the largest companies from the full list of management changes.

1. ​Angi (ANGI): Umang Dua voluntarily stepped down from his position as Chief Revenue Officer on December 5, 2022.
2. Gibraltar Industries (ROCK): Patrick M. Burns, Chief Operating Officer, will be departing from his position, effective December 30, 2022.
3. Aramark (ARMK): On December 6, 2022, Lynn McKee, Executive Vice President for Human Resources,  announced her intention to retire at the end of this calendar year.

Salesforce (CRM)

The Salesforce tower in San Francisco is a beautiful building with stunning views of the San Francisco Bay and the Bay Bridge. I happened to be at a WeWork that is situated inside the tower a few months ago and was captivated both by the view and the fact that the WeWork was nearly empty in the middle of a business day. The surrounding streets of San Francisco were also sparsely populated, a far cry from the lively city I worked in pre-pandemic.

Management Departures

On December 1, 2022, Bret Taylor stepped down as CEO of Salesforce and will officially depart his position on January 31, 2023, and Marc Benioff will be the sole CEO. Taylor took the co-CEO position last November, replacing Keith Block, who served an 18-month tenure as co-CEO before leaving in 2020.

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