Why Investors Signed Out of DocuSign Stock Today
Considering that Friday was a bad day for the stock market overall, particularly for tech titles, it probably wasn't the ideal time for a major executive transition. That was the case with DocuSign (NASDAQ: DOCU), which took a nearly 3% hit to its stock price that day after announcing a new leader after market hours Thursday. By contrast, the S&P 500 index shed only 1.7% of its value.
DocuSign announced that Allan Thygesen is to become its new CEO, effective Monday, Oct. 10. He will also serve on the company's board of directors. He replaces Maggie Wilderotter, who was appointed interim CEO in mid-June following the departure of Dan Springer.
In the press release trumpeting the appointment, DocuSign quoted Wilderotter as saying that Thygesen "is a customer-focused innovator with deep experience in e-commerce, the digitalization of business, and leading high-growth scale organizations."
Source Fool.com
