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Freshworks CEO Girish Mathrubootham steps down, company appoints Dennis Woodside as CEO

IndianStartupNews

IndianStartupNews · 1y ago

Freshworks CEO Girish Mathrubootham steps down, company appoints Dennis Woodside as CEO

SaaS firm Freshworks has announced the appointment of Dennis Woodside as its new CEO and President. Woodside, who currently serves as the company's President, will be taking over from Girish Mathrubootham, the Founder of Freshworks, who will transition into the role of Executive Chairman. Mathrubootham has played a significant role in leading Freshworks from a startup to a successful SaaS company, and under his leadership, the company has grown to serve more than 67,000 customers worldwide. Woodside, who joined Freshworks in 2022, has a strong track record in building and scaling global teams.

Related News

Investors may find Dennis Woodside a better chief for Freshworks

Livemint

Livemint · 1y ago

Investors may find Dennis Woodside a better chief for Freshworks

Freshworks Inc., a software-as-a-service (SaaS) company, has announced a leadership transition as Founder Girish Mathrubootham steps down as CEO and assumes the role of executive chairman. Dennis Woodside, former CEO of Motorola Mobility and COO of Dropbox, has been appointed as the new CEO. The transition comes as the company faces pressure from investors after its share price declined following its initial public offering. Freshworks reported consolidated revenues of $165 million for the January-March quarter, with projections of 17-18% year-on-year growth for 2024. Woodside will focus on executing the company's growth strategies.

Freshworks hires ex-Dropbox exec as CEO, founder Mathrubootham to be chairman

VCCircle

VCCircle · 1y ago

Freshworks hires ex-Dropbox exec as CEO, founder Mathrubootham to be chairman

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.

Freshworks Buys Device42 For $230 Mn Amid Top-Level Rejigs

Inc42 · 1y ago

Freshworks Buys Device42 For $230 Mn Amid Top-Level Rejigs

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.

Freshworks: Girish Mathrubootham hands CEO reins to Dennis Woodside

The Arc Web

The Arc Web · 1y ago

Freshworks: Girish Mathrubootham hands CEO reins to Dennis Woodside

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.

Freshworks' board reworks CEO Girish Mathrubootham’s stock award

Economic Times

Economic Times · 1y ago

Freshworks' board reworks CEO Girish Mathrubootham’s stock award

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.

Freshworks rejigs CEO Girish Mathrubootham’s stock award

The Arc Web

The Arc Web · 1y ago

Freshworks rejigs CEO Girish Mathrubootham’s stock award

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.

Girish Mathrubootham sells $40 million worth of Freshworks stock

Economic Times

Economic Times · 7m ago

Girish Mathrubootham sells $40 million worth of Freshworks stock

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.

Freshworks' CPO Prakash Ramamurthy resigns after 5 years

Inshorts · 11m ago

Freshworks' CPO Prakash Ramamurthy resigns after 5 years

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.

SaaS firm Freshworks appoints Murali Swaminathan as CTO

Economic Times

Economic Times · 11m ago

SaaS firm Freshworks appoints Murali Swaminathan as CTO

Freshworks, a Nasdaq-listed SaaS company, has appointed Murali Swaminathan as its new CTO. Swaminathan will be responsible for overseeing the company's technology roadmap and strategy, leading its global engineering and architecture teams. He brings extensive experience from his previous role as vice president of engineering at ServiceNow, where he developed innovative application architectures. Swaminathan's appointment aligns with Freshworks' commitment to investing in talent and enhancing employee and customer experience solutions. He will report directly to CEO Dennis Woodside and join the executive management team.

Freshworks appoints Srinivasan Raghavan as chief product officer to drive AI-driven innovation

Economic Times

Economic Times · 8m ago

Freshworks appoints Srinivasan Raghavan as chief product officer to drive AI-driven innovation

Freshworks, a leading SaaS company, has appointed Srinivasan Raghavan as its new Chief Product Officer (CPO). With extensive experience in the enterprise SaaS industry, Raghavan will be responsible for the product strategy and vision of Freshworks' AI-driven service software. Reporting directly to CEO Dennis Woodside, Raghavan will focus on employee experience, artificial intelligence, and customer experience. Previously, Raghavan served as CPO at RingCentral, launching cloud-based solutions for contact centers, marketing, and sales intelligence. Freshworks, founded in 2010, provides CRM software primarily targeting small and medium businesses, serving more than 68,000 customers globally.

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