DocuSign today announced the appointment of Allan Thygesen as its new CEO, effective October 10. Thygesen was most recently president of the Americas and global partners at Google.
He was in charge of Google's $100 billion advertising business in the Americas, which was a significant business by any standard and should have prepared him for his new position. He joins a company that is still the market leader in e-signature, but whose stock price has plummeted by 80% in the last year and 65% year to date. In its most recent earnings report, the company reported $622 million in revenue, a 22% increase over the previous year. This is a company with a run rate of nearly $2.5 billion, which is unquestionably the foundation of a healthy business.