- Push-out Score suggests push-out forces
- After ten years on the job
- Jason Randall taking over
- Donahoo spoke at length and said 115 words
(exechange) — Santa Barbara, California, August 07, 2017 — Brian Donahoo, chief executive of AppFolio, leaves the position. It is an abrupt change. As announced by AppFolio, Inc. in a news release and in a regulatory filing published on Monday, August 07, 2017, Brian Donahoo leaves the post as Chief Executive Officer at the provider of cloud-based business software in a surprising move after ten years on the job, effective August 08, 2017.
It is the end of an era.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, only 35 percent of the CEOs who departed over the past twelve months left after more than ten years. Overall, the average tenure of those who left was 8.6 years, according to data compiled by exechange.
Donahoo leaves the company effective December 31, 2017.
Donahoo’s duties are taken over by Jason Randall, most recently Senior Vice President, AppFolio Property Manager at AppFolio, Inc.
No reason given
In the announcement, AppFolio did not explicitly explain the obviously compelling reason for Donahoo’s sudden move, opening the door for speculation.
Precise information about the future plans of Donahoo was not immediately available.
AppFolio said: “Jason Randall will succeed Brian Donahoo as President and Chief Executive Officer following Mr. Donahoo’s retirement, effective August 8, 2017.”
“Not the result of any disagreement”
“Mr. Donahoo’s retirement was not the result of any disagreement with respect to the Company’s operations, policies or practices,” AppFolio said.
Share price rise since February 2016
The change follows a rise in the share price of AppFolio, Inc. since February 2016.
Chaired by Andreas von Blottnitz
AppFolio, Inc. is chaired by Andreas von Blottnitz.
On the job as CEO since 2007
Brian Donahoo has served as the Company’s President and Chief Executive Officer and as a director since 2007.
From 1999 to 2007, Donahoo served as the Senior Vice President for Products and Services at Expertcity, Inc. a provider of web-based remote desktop access software, which was acquired by Citrix Systems, Inc. (NASDAQ: CTXS) in 2004.
Previously, Donahoo served as Site Director at Stream International, a provider of services to the technology industry, from 1995 to 1999.
Donahoo received a B.S. in Psychology from Colorado State University.
Jason Randall will succeed Brian Donahoo as President and Chief Executive Officer following Donahoo’s retirement, effective August 8, 2017.
Donahoo will also be stepping down from his role as a director on the same date, and the Board of Directors has elected Randall to serve in his place.
Donahoo will continue to serve as an employee through December 31, 2017 to assist in the orderly transition of his roles and responsibilities.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Brian Donahoo’s sudden 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 33.2017 ($).