Aneel Bhusri will step down from his position as executive chairman of Workday and will be replaced by board member Carl Eschenbach.
Workday said in a statement that Eschenbach replaced ChanoFernandez as co-CEO. In August 2020 he was promoted to the post along with co- founder Bhusri.
Carl, with his leadership skills and his proven experience in helping technology companies scale, as well as his commitment to culture and values, will help lead Work day through its next phase of growth.
Before joining the board of Workday in February of last year, he was the president and chief operating officer of VMware, a maker of software for cloud computing.
According to a regulatory filing, he intended to resign. The company said that his decision was not due to any disagreements with Workday on any matters. According to the filing, he is expected to remain active at the company.
Workday's forecast for the current period and its preliminary outlook for fiscal 2024 were affirmed in the announcement.
After closing at $172.09 in New York, the shares lost 2% of their value. Many software companies have seen their stock prices decline this year.
(Updates with company comments on Fernandez’s departure in the fifth paragraph.)
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