- After around 11 years in the position
- Accolades, praise and thanks for Guo Xiao
- Mike Sutcliff taking over
- Guo Xiao said 87 words
(exechange) — Chicago, Illinois, May 7, 2024 — Guo Xiao, chief executive of Thoughtworks, leaves his position. As announced by Thoughtworks Holding Inc. in a news release and in a regulatory filing published on Tuesday, May 7, 2024, Guo Xiao leaves his post as chief executive officer at the technology consultancy, after around 11 years in the role, effective on or before June 17, 2024.
Generally speaking, it raises questions when a CEO leaves his post at short notice.
Guo Xiao’s duties as CEO will be taken over by Mike Sutcliff, previously Chief Executive Officer and Co-Founder at Mobeus Industries, Inc.
The fact that Guo Xiao’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
“Discussions”
The management change is explained as follows. Thoughtworks stated: “On May 7, 2024, Thoughtworks announced that following the discussions between the Company and its Chief Executive Officer, Guo Xiao, the parties agreed on May 1, 2024 that Mr. Guo will be stepping down as Chief Executive Officer and as a member of the Board on mutually agreeable terms and transitioning to the role of Senior Advisor.”
Precise information regarding Guo Xiao’s future plans was not immediately available.
“Stepping down”
Thoughtworks said: “Guo Xiao is stepping down from the role of Chief Executive Officer and Director.”
Share price decline since May 2023
The announcement follows a decline in Thoughtworks Holding Inc.’s share price of 59% since May 2023.
In the position of CEO since 2013
Guo Xiao became CEO of the Company in 2013.
He served as the Company’s Chief Executive Officer since 2013 and as a member of the Company’s Board since 2017.
Prior to that, Guo Xiao was Managing Director of Thoughtworks China from 2007 to 2013 and served as Head of Technology of Thoughtworks China from 2004 to 2007.
Guo Xiao worked as a Senior Agile Software Developer for Thoughtworks United Kingdom from 2002 to 2004.
At the beginning of his career, from 1999 to 2002, Guo Xiao worked as an Agile Software Developer for Thoughtworks US. Guo earned a Bachelor of Science in Chemistry from Peking University, a Master of Science in Chemistry from Northwestern University, where he also completed the Executive Development Program at the Kellogg School of Management, and a Master of Science in Computer Science from Loyola University Chicago.
87 words by Guo Xiao
In the release announcing his departure as CEO of Thoughtworks Holding Inc., Guo Xiao received accolades, praise and thanks.
In the release announcing his departure as CEO, Guo Xiao said 87 words.
“Mike will bring the same passion”
Guo Xiao stated: “It has been a privilege to be a Thoughtworker, learning from the best and brightest in our industry. I am proud of what we have accomplished, growing the business and delivering extraordinary impact for our clients around the world. We have achieved this collectively through our culture of innovation, continuous learning and technology excellence. I know Mike will bring the same passion for the work, our clients and our people and I will continue to work closely with him and the team to ensure a smooth transition.”
The above text is an excerpt from the exechange report 20.2024 ($), publication date May 13, 2024.