Salesforce co-CEO Keith Block steps down, Marc Benioff to be sole chief
Block was widely seen as a potential successor to Benioff, who founded the company in 1999
Salesforce co-CEO Keith Block steps down, Marc Benioff to be sole chief
Business apps vendor, Salesforce.com Inc, has said Keith Block has stepped down as co-chief executive officer, making Marc Benioff the sole CEO of the business software company.
Block was widely seen as a potential successor to Benioff, who founded the company in 1999, and will continue as the chairman.
The company spent more than $16bn last year for acquisitions, adding muscle to its cloud products as it fends off competition from bigger rivals like Oracle Corp and German competitor SAP.
Salesforce forecast first-quarter revenue between $4.88bn and $4.89bn, compared with analysts’ estimates of $4.84bn, according to IBES data from Refinitiv.
The company reported a net loss of $248m, or 28 cents per share, for the quarter ended Jan. 31, compared with a net income of $362m, or 46 cents per share, a year earlier.
On an adjusted basis, the company earned 66 cents per share, beating estimates of 56 cents per share.
The company’s total revenue rose 34.6% to $4.85bn, above estimates of $4.75bn.
