Salesforce Appoints Bret Taylor Co-CEO – .

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Salesforce Appoints Bret Taylor Co-CEO – .


Salesforce on Tuesday promoted Bret Taylor to co-CEO, alongside Marc Benioff, who co-founded the company in 1999.
Taylor joined Salesforce in 2016, with the $ 412 million acquisition of his productivity software startup Quip, which he co-founded four years earlier. Taylor quickly rose through the ranks to become president and chief product officer, and he now participates in quarterly earnings calls with analysts.

“Bret is a phenomenal industry leader who has helped create incredible success for our customers and drive innovation across our business,” said Benioff, in a press release announcing the promotion. “Together, Bret and I will lead Salesforce throughout our next chapter, while living our shared values ​​of trust, customer success, innovation and equality for all. “

Prior to founding Quip, Taylor helped create Google Maps, sold social networking startup FriendFeed to Facebook, and spent three years as Facebook’s chief technology officer. Taylor sits on Twitter’s board and was named chairman on Monday in connection with Jack Dorsey’s departure as CEO.

Taylor received $ 13.9 million in total compensation for fiscal 2021, mostly in the form of stock awards, according to Salesforce’s most recent proxy statement. He owns about $ 329 million in Salesforce shares, according to FactSet. Taylor received Salesforce shares in exchange for his Quip holdings.

The last time Benioff appointed another Salesforce CEO was in 2018, when former Oracle executive Keith Block became co-CEO alongside Benioff. But Block resigned less than two years later and Benioff removed the “co” from his title.

Taylor told people he expected to get the CEO job soon, Information reported on Oct. 7.

“Marc has been my mentor, my biggest supporter and my trusted friend for years,” he said in a statement Tuesday. “Partnering with him to lead the company he co-founded 22 years ago is a huge privilege.

Salesforce is San Francisco’s largest employer, attracting tens of thousands of attendees to its Dreamforce conference each year, where Benioff discusses business trends. Benioff regularly engages in politics, donates money to philanthropic causes and, along with his wife, Lynne, acquired ownership of Time Magazine from Meredith Corp in 2018.

Salesforce has expanded beyond its core of providing cloud-based software for sales reps, with products for customer service, marketing, and commerce. The acquisitions of MuleSoft, Tableau and more recently Slack have also contributed to the growth of Salesforce.

Slack CEO Stewart Butterfield told Taylor last year that Slack was interested in acquiring Quip from Salesforce. Taylor told Butterfield that wasn’t happening, but then brought up the idea of ​​Salesforce buying Slack, according to a regulatory filing. The $ 27.1 billion deal was reached in July.

Taylor graduated from Stanford

LOOK: Jim Cramer’s interview with Marc Benioff

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