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News on Medial
Freshworks board cancels CEO Girish Matrubootham’s performance award of 6 mn stock units
Livemint
·
1y ago
Medial
The Livemint article focuses on the cancellation of CEO Girish Mathrubootham's performance award of 6 million stock units. The board at Freshworks, the customer engagement software company, made this decision. More updates will be provided.
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Related News
Freshworks cancels CEO Girish's stock award of 60 lakh shares
Inshorts
·
1y ago
Medial
Freshworks' board has revised CEO Girish Mathrubootham's stock award, citing macroeconomic conditions, as per SEC filings. The board cancelled Girish's performance-based stock award of 60 lakh shares and granted him an annual long-term incentive award worth $19 million. The stock award was worth over $130 million when it was granted during the firm's IPO in 2021.
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Freshworks' board reworks CEO Girish Mathrubootham’s stock award
Economic Times
·
1y ago
Medial
Software service provider Freshworks has canceled the performance-based stock award of 6 million shares to its founder and CEO, Girish Mathrubootham. The decision was made due to macroeconomic challenges affecting the company's stock price. While his original stock award has been canceled, Mathrubootham has been allotted stock awards valued at $19 million. Additionally, stock awards have been approved for Freshworks' other executives, including president Dennis Woodside, CFO Tyler Sloat, and CPO Srinivasagopalan Ramamurthy.
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Freshworks rejigs CEO Girish Mathrubootham’s stock award
The Arc Web
·
1y ago
Medial
The board of Freshworks has revised the stock-based compensation for its top leadership, including CEO Girish Mathrubootham and President Dennis Woodside. The board has canceled a performance-based stock award of 6 million shares granted to Mathrubootham during the company's IPO. However, a stock award of 3 million shares granted to Mathrubootham remains unchanged. The revision was made due to macroeconomic conditions, and the new stock awards for the management team are structured to vest over the next four years. Other executives receiving stock awards include Woodside, CFO Tyler Sloat, and Chief Product Officer Srinivas Ramamurthy.
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Freshworks Revises CEO Mathrubootham’s Stock Awards
Inc42
·
1y ago
Medial
Freshworks has revised the stock-based compensation for its CEO Girish Mathrubootham and other top executives due to macroeconomic conditions. Mathrubootham's multi-year performance-based restricted stock unit award has been canceled, and he has been granted an annual long-term equity incentive award valued at $19 million. The value of the stock award has changed over the years, with Freshworks' share price experiencing fluctuations. The decision to revise the stock awards was made to align business objectives with shareholder value creation.
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Freshworks Buys Device42 For $230 Mn Amid Top-Level Rejigs
Inc42
·
1y ago
Medial
Freshworks, a Nasdaq-listed SaaS company, is set to acquire Device42 for $230 million. The deal includes $215 million in cash and a $15 million equity rollover. Device42 provides tech support for IT compliance, audit, and asset management. Freshworks recently reported a 45.3% decline in net loss for Q1 2024 but experienced a 20% increase in total revenue. In terms of leadership, CEO Girish Mathrubootham will step down, with President Dennis Woodside taking over on May 1. Mathrubootham will become executive chairman, focusing on product vision, innovation, and AI strategy.
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Girish Mathrubootham sells $40 million worth of Freshworks stock
Economic Times
·
6m ago
Medial
Freshworks founder Girish Mathrubootham has sold shares in the software-as-a-service (SaaS) company totaling nearly $40 million. Mathrubootham, who recently stepped down as CEO, sold a total of 2.5 million shares in December. He currently owns around 5% stake in the company and serves as the chairman of the board of directors. In 2021, Mathrubootham launched a venture fund with a focus on backing early-stage software startups in India. Freshworks, founded in 2010, targets small and medium businesses with its CRM software and serves over 68,000 customers.
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Freshworks hires ex-Dropbox exec as CEO, founder Mathrubootham to be chairman
VCCircle
·
1y ago
Medial
CRM software maker Freshworks has appointed Dennis Woodside as its new CEO, with founder Girish Mathrubootham becoming the executive chairman. Woodside, who previously held leadership positions at Impossible Foods, Dropbox, and Motorola Mobility, joined Freshworks in 2022 as president. The company's shares fell by around 21% following the announcement. Freshworks, which went public on Nasdaq in 2021, has forecast second quarter revenue between $168 million and $170 million, below market estimates.
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Freshworks: Girish Mathrubootham hands CEO reins to Dennis Woodside
The Arc Web
·
1y ago
Medial
Freshworks founder and CEO, Girish Mathrubootham, is transitioning to the role of Executive Chairman, while current President, Dennis Woodside, has been named the new CEO. The announcement was made after market hours, leading to a 25% drop in Freshworks' share price in the aftermarket. The change allows Mathrubootham to focus more on product teams and customers, while remaining involved in strategic decisions. Freshworks also recently announced its acquisition of Device42 for $230 million in cash, expanding its IT services management business.
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Freshworks' CPO Prakash Ramamurthy resigns after 5 years
Inshorts
·
11m ago
Medial
Freshworks' Chief Product Officer Prakash Ramamurthy has resigned after working with the software company for nearly five years. He will remain in his role till October 1, following which he will provide advisory assistance to Freshworks through the end of the year, a filing stated. His resignation comes months after CEO Girish Mathrubootham stepped down from his role.
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Leading Public Company Harder Than Private Firm: Zoho’s Vembu
Inc42
·
1y ago
Medial
In a recent post, Zoho CEO Sridhar Vembu expressed his belief that leading a public company is much harder than running a private one. He highlighted the pressure of managing a public company's stock price and the potential for employee burnout and attrition. Vembu's comments came after the CEO of Freshworks, Girish Mathrubootham, stepped down. Zoho continues to remain a profitable, privately-owned company, allowing them to focus on long-term critical projects and growth without pushing employees too hard. Vembu's words sparked a discussion about the benefits and downsides of going public.
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