- After almost 14 years in the position
- Praise for Mathrubootham
- Dennis Woodside taking over
- Mathrubootham will remain as Executive Chairman at Freshworks
- Mathrubootham said 116 words
(exechange) — San Mateo, California, May 1, 2024 — Girish Mathrubootham, chief executive of Freshworks, leaves his position. As announced by Freshworks Inc. in a news release and in a regulatory filing published on Wednesday, May 1, 2024, Rathna Girish Mathrubootham leaves his post as chief executive officer at the provider of IT services management and customer support software, after almost 14 years in the role, effective immediately.
Generally speaking, it raises questions when a CEO leaves his post abruptly.
Girish Mathrubootham’s duties as CEO will be taken over by Dennis Woodside, previously President at Freshworks Inc.
“To spend more time on the long-term product vision, innovation and AI strategy”
The management change is explained as follows. Mathrubootham stated: “We brought Dennis on board to partner with me on crafting an ambitious growth plan, and my hope was that he could eventually lead the team of talented employees around the world to execute it, which would allow me to spend more time on the long-term product vision, innovation and AI strategy.”
Mathrubootham will remain as Executive Chairman at Freshworks
Freshworks stated: “Mathrubootham will transition to a new role of Executive Chairman.”
“Transitioned”
Freshworks said: “On May 1, 2024, Freshworks Inc. … announced that Mr. Rathna Girish Mathrubootham has transitioned from his position as Chief Executive Officer of the Company to the role of Executive Chairman of the Company and that Mr. Dennis Woodside, the Company’s President, has also been appointed Chief Executive Officer of the Company.”
Share price decline since September 2021
The announcement follows a decline in Freshworks Inc.’s share price of 62% since September 2021.
In the position of CEO since 2010
Girish Mathrubootham became CEO of the Company in 2010.
Mathrubootham will remain the chairman of the Board of Directors, and Woodside will also remain a member of the Board of Directors.
Mathrubootham is a co-founder of the Company and has served as the Company’s Chief Executive Officer since October 2010, as a member of the Company’s board of directors since August 2010 and as Chairman since May 2021.
Mathrubootham holds a B.E. in Electrical and Electronics from Shanmugha Arts, Science, Technology and Research Academy, and an M.B.A. from the University of Madras.
116 words by Girish Mathrubootham
In the release announcing his departure as CEO of Freshworks Inc., Girish Mathrubootham received praise.
In the release announcing his departure as CEO, Girish Mathrubootham said 116 words.
“I’m thrilled”
Girish Mathrubootham stated: “When I first proposed this next step to the Freshworks Board, we were starting to chart the next phase of our company’s journey. We brought Dennis on board to partner with me on crafting an ambitious growth plan, and my hope was that he could eventually lead the team of talented employees around the world to execute it, which would allow me to spend more time on the long-term product vision, innovation and AI strategy. Dennis has a deep understanding of Freshworks’ business, customers and our employees, and a strong track record of building and scaling large global teams – he is the right leader to become our next CEO. I’m thrilled to announce this transition.”
The above text is an excerpt from the exechange report 19.2024 ($), publication date May 6, 2024.