- Push-out Score determined
- After 12 years in the position
- Accolades and praise for James
- John Mellor taking over
- James said 65 words
(exechange) — Silicon Slopes, Utah, March 1, 2022 — Josh James, chief executive of Domo, leaves. As announced by Domo Inc. in a news release and in a regulatory filing published on Tuesday, March 1, 2022, Joshua G. (Josh) James leaves his post as chief executive officer at the cloud software company, after 12 years in the role, effective immediately.
Josh James’s duties as CEO will be taken over by John Mellor, most recently Chief Strategy Officer at Domo Inc.
Josh James’s move coincides with a management shake-up also involving the position of Chief Operating Officer.
“To promote continued growth”
Domo did not give an explicit reason for Josh James’s departure from the CEO post. Domo said: “Domo, Inc. (Nasdaq: DOMO) today announced a leadership transition, effective immediately, that leverages the breadth and depth of the company’s existing talent to promote continued growth.”
Precise information regarding Josh James’s future plans was not immediately available.
Domo also announced that the Board of Directors has elected Carine Clark as Executive Chair and appointed John Pestana as a new independent director.
Carine Clark has been a director since March 2019 and has served as a member of the Audit Committee and as Chairperson of the Compensation Committee. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. Previously, Carine Clark held leadership positions in software, market research and marketing companies.
John Pestana is a distinguished entrepreneur, Co-Founder and CEO of ObservePoint. He was also the co-founder of Omniture, which was acquired by Adobe in 2009. With John Pestana’s appointment, the size of the Board will increase from seven to eight members.
Domo said: “Josh James has stepped down as the company’s CEO, Chairman and as a director.”
Domo further said: “Mr. James resigned his employment with the Company effective March 1, 2022.”
Share price decline since March 2021
The announcement follows a decline in Domo Inc.’s share price of 35% since March 2021.
In the position of CEO since 2010
Josh James became CEO of the Company in 2010.
Joshua G. James, the Company’s founder, served as the Company’s chief executive officer and as a member of the Company’s board of directors since 2010.
James was the co-founder of Omniture, Inc., a provider of online business optimization products and services, and from 1996 to 2009, he served as its chief executive officer.
James has served on the board of directors of various privately held and public companies.
He currently serves on the board of a newly organized special purpose acquisition company.
He founded Silicon Slopes, an initiative with the mission to promote the interests of Utah’s high-tech industry and is a board member of Parity.org, where he was a co-founder of the Parity Pledge initiative.
James attended Brigham Young University for three and a half years and studied entrepreneurship.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Josh James’s move on a scale of 0 to 10.
exechange reached out to Domo and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 10.2022 ($).