LegalZoom CEO Dan Wernikoff leaves

  • After about five years in the position
  • Praise, thanks and good wishes for Wernikoff
  • Jeff Stibel taking over

(exechange) — Mountain View, California, July 10, 2024 — Dan Wernikoff, chief executive of LegalZoom, leaves his position. As announced by LegalZoom.com Inc. in a news release published on Tuesday, July 9, 2024, and in a regulatory filing published on Wednesday, July 10, 2024, Dan Wernikoff leaves his post as chief executive officer at the online legal technology company, after about five years in the role, effective immediately.

Generally speaking, it raises questions when a CEO leaves his post abruptly.

Dan Wernikoff’s duties as CEO will be taken over by Jeffrey (Jeff) Stibel, previously Chairman at LegalZoom.com Inc.

“Now is the right time”

The management change is explained as follows. LegalZoom stated: “The Board and Mr. Wernikoff decided that now is the right time for this transition, as the Company increases its focus on shifting towards subscription-based revenue to drive long-term profitable growth.”

Precise information regarding Dan Wernikoff’s future plans was not immediately available.

“Departing”

LegalZoom said that “current Chief Executive Officer Dan Wernikoff will be departing the Company, including resigning from the Board.”

LegalZoom further said: “On July 8, 2024, the Board determined to transition from Dan Wernikoff, effective July 9, 2024, and Mr. Wernikoff resigned from the Board, effective July 9, 2024.”

“Not a result of a disagreement”

LegalZoom stated, regarding the change: “Mr. Wernikoff’s departure is not a result of a disagreement with the Company on any matter relating to the Company’s operations, policies or practices.”

Share price decline since July 2021

The announcement follows a decline in LegalZoom.com Inc.’s share price of 79% since July 2021.

In the position of CEO since 2019

Dan Wernikoff became CEO of the Company in 2019.

Dan Wernikoff has served as the Company’s Chief Executive Officer since October 2019.

From March 2019 to August 2019, Wernikoff served as a Venture Partner at TCV.

From 2003 to October 2018, Wernikoff held various general manager roles at Intuit Inc., an American business software company that specializes in financial software, most recently serving as Executive Vice President and General Manager of Intuit’s Consumer Tax Group from May 2016 to May 2018.

Before that role he was the General Manager of the Small Business Group from May 2014 to May 2016.

He also served as the General Manager of QuickBooks from August 2010 to May 2014.

Prior to his various general manager roles, Wernikoff held various product and marketing leadership positions while at Intuit.

Wernikoff holds a B.S. in Finance from Miami University, and an M.B.A. from the Katz Graduate School of Business at the University of Pittsburgh.

No statement by Dan Wernikoff

In the release announcing his departure as CEO of LegalZoom.com Inc., Dan Wernikoff received praise, thanks and good wishes.

The announcement of his departure as CEO does not include a statement by Dan Wernikoff.

The above text is an excerpt from the exechange report 29.2024 ($), publication date July 15, 2024.