Atlassian co-CEO Scott Farquhar leaves

  • After almost 23 years in the position
  • Praise and thanks for Farquhar
  • Elimination of dual Chief Executive Officer role
  • Mike Cannon-Brookes becomes sole Chief Executive Officer
  • Farquhar kept it short and said 41 words

(exechange) — San Francisco, California, April 25, 2024 — Scott Farquhar, co-chief executive of Atlassian, leaves his position. As announced by Atlassian Corp. in a news release and in a regulatory filing published on Thursday, April 25, 2024, Scott Farquhar leaves his post as co-chief executive officer at the provider of team collaboration and productivity software, after almost 23 years in the role, effective August 31, 2024.

Atlassian eliminates the dual Chief Executive Officer role. Michael (Mike) Cannon-Brookes will be sole Chief Executive Officer.

“To spend more time with his young family”

The planned management change is explained as follows. Atlassian stated: “After an incredible 23 years, Scott Farquhar has made the decision to step down as co-CEO to spend more time with his young family, improve the world via philanthropy, and help further the technology industry globally.”

Precise information regarding Scott Farquhar’s future plans was not immediately available.

“Step down”

Atlassian said that “co-founder Scott Farquhar will step down as co-CEO effective August 31, 2024, with co-founder Mike Cannon Brookes continuing to lead Atlassian as CEO.”

Atlassian further said: “On April 25, 2024, Scott Farquhar, the Company’s Co-Founder, Co-Chief Executive Officer and director, announced that he will step down from his role as Co-Chief Executive Officer, effective as of August 31, 2024.”

Share price decline since April 2021

The announcement follows a decline in Atlassian Corp.’s share price of 11% since April 2021.

In the position of CEO since 2002

Scott Farquhar became CEO of the Company in 2002.

Scott Farquhar’s last day as co-CEO will be August 31, 2024. He will continue as an active Board member and assume a special advisor role.

His bio reads as follows:

Professional Experience

  • Co-Founder & Co-CEO of Atlassian (2002 to Present)
  • Chair of the Board of Atlassian (2016 to 2018)
  • Interim Chief Financial Officer of Atlassian (July 2022 to September 2022)

Education

  • Bachelor of Science in business information technology from the University of New South Wales, Australia.
41 words by Scott Farquhar

In the release announcing his departure as co-CEO of Atlassian Corp., Scott Farquhar received praise and thanks.

In the release announcing his departure as co-CEO of Atlassian Corp., Scott Farquhar kept it short and said 41 words.

“Difficult decision”

Scott Farquhar stated: “While it’s a difficult decision to step away, I do so knowing Atlassian is exceptionally positioned to take hold of the massive opportunities at its feet. We have a strong leadership team, and great momentum around cloud, enterprise, and now, AI.”

The above text is an excerpt from the exechange report 18.2024 ($), publication date April 29, 2024.