DocuSign CEO Is Out, Stock Rebounds

DocuSign CEO Dan Springer is out as the company’s stock has tanked while the company struggles to return to its pandemic-fueled highs....
DocuSign CEO Is Out, Stock Rebounds
Written by Matt Milano

DocuSign CEO Dan Springer is out as the company’s stock has tanked while the company struggles to return to its pandemic-fueled highs.

Like many companies, DocuSign reached all-new highs during the early days of the pandemic as businesses turned to cloud-based tools to stay productive as employees worked from home. Unfortunately for DocuSign, the company has struggled to maintain its pandemic-level growth rate, and its stock has reflected that. After posting disappointing quarterly results, the company announced that Springer would resign as CEO.

The company struck a positive tone about its future prospects.

“DocuSign has the people, the products and the brand to transform the way the world agrees, making us a leader in our Anywhere Economy,” said chairman Pete Solvik, according to TheStreet.

In the meantime, board member Maggie Wilderotter will serve as interim CEO while the company looks for a permanent replacement. The company’s stock had rebounded 4.1% in early Tuesday trading before settling back down.

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