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Freshworks appoints Dennis Woodside as CEO, founder Girish Mathrubootham becomes exec chairman

Entrackr · 1y ago

Medial

Freshworks founder Girish Mathrubootham has stepped down from the position of chief executive officer after 14 years. While Mathrubootham is transitioning into the role of executive chairman, company president Dennis Woodside has been elevated as the new CEO. “As I pass the baton to Dennis and move into my new seat as Executive Chairman, I look forward to continuing to serve Freshworks, focusing on our long-term product vision and AI, spending more time with our teams in India, and being a trusted advisor to Dennis. Our mission remains unchanged, and our future is bright. The road ahead is filled with limitless possibilities, and I am excited to see where Dennis’ leadership takes us,” Mathrubootham wrote in a blog post. Woodside, an industry veteran, joined Freshworks in September 2022. Previously, he served as Dropbox CEO (between August 2014 and September 2018) and Motorola CEO (May 2012 – April 2014), among other roles. “When I recruited Dennis to Freshworks, my hope was that he would eventually succeed me, and that we would work together to make a thoughtful and smooth transition, one that keeps the needs of our customers and employees front and center,” Mathrubootham said on Woodside. “We have worked together for more than 18 months now, and watching Dennis gain a deep understanding of the Freshworks business, his love and admiration of our work and people in India, his ability to attract top talent and build world-class teams, and the operational excellence that he brings to Freshworks make me confident that he is the right leader to take on the CEO role,” he added. Saas firm Freshworks, previously known as Freshdesk, started in 2010 in Chennai, though the company later moved to the US. In 2021, the company listed on the Nasdaq stock exchange following a billion dollar IPO. Mathrubootham in his post disclosed that the company serves more than 67,000 customers worldwide and has nearly 5,000 employees. Freshworks reported consolidated revenue of $165.5 million with non-GAAP operating profit of $21.8 million in the first quarter of 2024. At the time of filing this story, Freshworks’ shares were trading at $18.25, though significantly down from the debut price of $43.5 per share.