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Age : 57
Public asset : 10,249,049 USD
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Salesforce co-CEO Keith Block Steps Down

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02/25/2020 | 04:43pm EDT

By Sarah E. Needleman

Salesforce.com Inc. said its co-chief executive Keith Block is stepping down from his role, leaving co-founder Marc Benioff solely in charge of the business-software provider.

Mr. Block joined Salesforce in 2013, and the company's revenue more than quadrupled over his tenure to more than $17 billion in the year ended Jan. 31. "After a fantastic run I am ready for my next chapter and will stay close to the company as an advisor," he said in a statement.

The executive change came as Salesforce reported swinging to a net loss of $248 million for the quarter that ended Jan. 31, compared with a profit of $548 million a year earlier. Excluding items such as stock-based compensation, Salesforce posted a profit of 66 cents a share, compared with a profit of 70 cents a share a year earlier.

Sales in the quarter increased 35% to $4.85 billion, compared with the $4.76 billion that analysts surveyed by FactSet had expected.

(Updates to come)

 

Stocks mentioned in the article
ChangeLast1st jan.
SALESFORCE.COM, INC. -6.89% 134.06 Delayed Quote.-17.57%
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