Home » Business » Salesforce drops 7% on the stock market after executives exit its Slack platform

Salesforce drops 7% on the stock market after executives exit its Slack platform

This content was published on December 05, 2022 – 21:18

New York, December 5 (EFE).- Tech firm Salesforce fell 7.4% on Wall Street on Monday after learning of the exit of three top executives from the Slack platform, which it acquired in 2020, following the resignation of one of the company’s CEOs last week.

The American giant of cloud services for companies told staff today that the founder and CEO of Slack, Stewart Butterfield, will be replaced by a senior executive of the company, Lidiane Jones, according to the specialized channel CNBC.

Slack’s head of product and head of marketing, branding and communications will also leave Salesforce, the outlet added.

Salesforce agreed in late 2020 to buy Slack, a communication platform for work teams in enterprises, for $27,000 million, which was the largest acquisition in its history.

In a Slack message to Salesforce employees, Butterfield himself said the changes to his leadership had been planned for some time and had nothing to do with the recent resignation of Bret Taylor, one of the tech giant’s two CEOs.

The company announced last week that it would let go of Taylor, who was promoted a year ago to the top management position shared with Marc Benioff, the co-founder; an outing reminiscent of that of his predecessor, Keith Block, who was in that position 18 months after being promoted.

Taylor, on the other hand, was the president of Twitter until the arrival of Elon Musk, its new owner, and it was he who announced that the bird’s social network would go to court to force the richest man in the world to comply with his agreement and buy it for 44,000 million.

Salesforce, which already fell on the stock market last week, today hit the lowest value in the last two years and has lost practically half of its capitalization in the last twelve months, to about 144.5 billion dollars. EFE extension

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