- Signs for push-out forces
- After almost six years on the job
- Laud and praise for Slootman
- John Donahoe taking over
- Slootman will remain as Chairman
- Slootman made a lengthy statement and said 190 words
(exechange) — Santa Clara, California, February 27, 2017 — Frank Slootman, chief executive of ServiceNow, leaves the position. It is a change at short notice. As announced by ServiceNow, Inc. in a news release and in a regulatory filing published on Monday, February 27, 2017, Frank Slootman leaves the post as Chief Executive Officer at the cloud computing company in a surprising move after almost six years on the job, effective April 03, 2017.
Slootman’s duties are taken over by John J. Donahoe, a former Chief Executive Officer at eBay Inc.
The fact that Slootman’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, ServiceNow did not explicitly explain the reason for Slootman’s imminent move, leaving room for speculation.
ServiceNow said: “On February 24, 2017, Frank Slootman notified ServiceNow, Inc. … of his decision to resign from his position as the Company’s President and Chief Executive Officer, effective April 3, 2017.”
Slootman will remain as Chairman at ServiceNow
“CEO and Chairman of the Board, Frank Slootman will continue as Chairman upon stepping down from his management role on April 3, 2017,” ServiceNow said.
Share price rise since February 2016
The change follows a rise in the share price of ServiceNow, Inc. since February 2016.
On the job as CEO since 2011
Slootman has been the Chairman of the Board at ServiceNow, Inc. (formerly, Service-now.com/Glidesoft Inc) since October 25, 2016 and as its Chief Executive Officer since May 02, 2011 and its President since May 2011.
From January 2011 to April 2011, Slootman served as a partner with Greylock Partners, and served as an advisor to EMC Corporation from January 2011 to February 2012.
From July 2009 to January 2011, he served as President of the Backup Recovery Systems Division at EMC.
From July 2003 to July 2009, Slootman served as President and Chief Executive Officer of Data Domain, Inc., which was acquired by EMC in 2009.
Prior to joining Data Domain, Slootman served as an executive at Borland Software Corporation from June 2000 to June 2003.
From March 1993 to June 2000, Slootman held consecutive general management positions for two enterprise software divisions of Compuware Corporation.
Slootman holds undergraduate and graduate degrees in economics from the Netherlands School of Economics, Erasmus University Rotterdam.
Signs for push-out forces
It is not completely certain what forces eventually triggered Frank Slootman’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 10.2017 ($).