- Push-out Score suggests push-out forces
- After about two years on the job
- Accolades, praise and thanks for Demo
- Search for a successor
- Demo made a lengthy statement and said 63 words
(exechange) — San Francisco, California, July 27, 2017 — Murray Demo, finance chief of Atlassian, leaves. His departure is made public at an early stage. As announced by Atlassian Corporation Plc in a news release and in a regulatory filing published on Thursday, July 27, 2017, Murray Demo, Chief Financial Officer, leaves the provider of team collaboration and productivity software in a surprising move after about two years on the job, effective December 31, 2017.
No company wants a CFO to flame out in the first years.
Atlassian will undertake a search for a successor.
“To focus on his corporate and non-profit board work”
The management change is explained as follows. Atlassian said: “Chief Financial Officer, Murray Demo, will be leaving Atlassian on December 31, 2017 to focus on his corporate and non-profit board work.”
Precise information about the future plans of Demo was not immediately available.
“Not due to a dispute or disagreement”
“Mr. Demo indicated his pending departure is not due to a dispute or disagreement with the Company,” Atlassian said.
It is a phrase that may be intended to prevent false rumors. It may also fuel further speculation and raise more questions than it answers. Such a phrase should be read very carefully. The exact wording may be insightful.
Share price rise since December 2016
The change follows a rise in the share price of Atlassian Corporation Plc since December 2016.
Chaired by Scott Farquhar
Atlassian Corporation Plc is chaired by Scott Farquhar.
Scott Farquhar is the co-founder and co-CEO of Atlassian. Mike Cannon-Brookes is the co-founder and co-CEO of Atlassian.
On the job as CFO since 2015
Murray J. Demo has been Chief Financial Officer at Atlassian, Inc. since October 29, 2015.
After serving on Atlassian’s board for four years, Demo joined the company as Chief Financial Officer in 2015 to help support Atlassian through its transition to a public company.
Before joining Atlassian, Murray served as executive vice president and CFO of Dolby Laboratories, Inc., an entertainment technology company.
Prior to Dolby, Murray was executive vice president and CFO of LiveOps, Inc., a contact center software and call center outsourcing company.
Previously, Murray served as executive vice president and CFO of Postini Inc., an on-demand communication security software company, which was acquired by Google Inc. in 2007.
From 1996 to 2006, Murray served in various senior finance roles at Adobe Systems Incorporated, including serving as CFO from 2000 to 2006.
Murray is currently a director of Citrix Systems, Inc., a publicly-traded software company, and several other private companies.
Murray holds a Masters in Business Administration from Golden Gate University and a Bachelor of Arts in business economics from the University of California, Santa Barbara.
As a general rule, when a top manager announces to step aside with no successor available, it is a sign that the change was unexpected and too early.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Murray Demo’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 31.2017 ($).