The American cloud computing and enterprise software company Workday has announced that Carl Eschenbach will be instated as the co-CEO of the company, effective immediately.
Carl had been associated with the company for years and has been serving as one of the board members of the company since 1028. It was also announced that even though he was promoted as the co-CEO of the company, Carl will hold his petition as a board member.
Carl Eschenbach will serve as the co-CEO of the company alongside Aneel Bhusri, who holds multiple positions like c–CEO, co-founder, and also the chair of the company, through January 2024. It will mark the fiscal year-end for Workday.
According to the announcement made by the company, the decision is to instate Carl Eschenbach as the sole CEO of the company, and he will take on the responsibilities alone by the end of January.
As for Aneel Bhusri, who is currently the co-CEO, he will take up the full-time role of the executive chair of the company and he will also remain as the chair of the board of directors too.
Carl Eschenbach was selected to be the co-CEO of the company as the former co-CEO Chano Fernandez stepped down from his position. He has also resigned from his position as a member of the board of directors, effective immediately.
The choice of Carl Eschenbach as the co-CEO and then later to sole CEO of the company comes from the successful career of Eschenbach, who has served earlier at multiple successful technology companies. He has been employed in the industry for 35 years.
Before being associated with Workday, Carl Eschenbach was a partner at Sequoia Capital since 2016. He had been working in close association with Sequoia and also other different high-growth innovative software organizations.
Even though he takes up a new and responsible position at Workday, it does not mean that he has ended his relations with Sequoia but it has been made clear that Carl Eschenbach will remain in association with Sequoia in a venture partner capacity.
Before taking up his job with Sequoia, Carl Eschenbach used to work in different leadership positions with VMware, which is an American cloud computing and visualization company with headquarters in California.
Carl Eschenbach used to serve at the company in different top-end roles such as the president, executive vice president of worldwide operations, chief operating officer, and also as acting chief financial officer.
During his tenure there, Carl Eschenbach was able to guide the company through a huge profit margin. He worked at VM ware for almost 14 years and during those years, he was successful in guiding the company to a total profit scale of about $7 billion.
The company Workday Inc was founded by David Duffield along with Aneel Bhusri. David was the founder of PeopleSoft, which was an ERP company and Aneel Bhusri used to serve as the chief strategist at his company.
The company PeopleSoft was later acquired by Oracle, an American multinational technology corporation based in Texas, in 2005. The company launched an IPO in October 2012, which was very successful. It increased the value of the company to almost $9.5 billion.
The company was also ranked number five on the list published by Forbes, which included the Top 100 companies to work for in 2020. The ranking was based on the employee satisfaction survey carried out by them.
The current co-CEO of the company, Aneel Bhusri expressed his thoughts about the stepping down of Chano from his current position and his expectations while instating Carl Eschenbach as the co-CEO of the company.
According to his words, he is quite confident in his leadership skills of Carl. His previous history of guiding companies to expand their profit scale as well as his commitment to values and culture are also believed to do good for Workday in the coming future, says Aneel Bhusri.
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Bhusri also thanked Chano Fernandez, who resigned from his position as the co-CEO of the company and also his position as a member of the board of directors of the company.
Aneel Bhusri also recalled Fernandez worked for almost nine years at Workday and that he was an integral part of their growth and also their ventures to be successful.
As for Carl, in his statement about his new role at Workday, he said that he was very thrilled to expand his role at Workday and also to work alongside people like Aneel Bhusri.
Carl also praised the hardworking team at Workday and said that he was very happy to take on the take-up responsibility and utilize the massive opportunity that they have informant of them.
Carl also added that he had admired Workday for a long time and that Workday had made some serious changes in the field of the software industry. He credited the company for its value-centric approach and also for giving priority to the people.
He says that it makes Workday stand out from the rest of the comparison and that’s what has driven the success that the company has today.