DOCU Stock: DocuSign Picks Google Marketing Honcho As New Chief Executive


DocuSign (DOCU) on Thursday named Google’s Allan Thygesen as its new chief executive. DOCU stock rose in after-market trading on the announcement.




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Former DocuSign CEO Dan Springer resigned in June following a string of disappointing earnings reports. The maker of electronic signature software had thrived during the coronavirus pandemic. But DocuSign’s growth slowed sharply as in-person business meetings resumed.

At Alphabet‘s (GOOGL) Google unit, Thygesen most recently served as president, Americas & Global Partners, leading the company’s more than $100 billion advertising business across North and South America. Earlier, he was president of Google Marketing Solutions.

DOCU Stock Falls 64% In 2022

DocuSign board Chair Mary Wilderotter had served as interim CEO. In a news release, Wilderotter said Thygesen “is a customer-focused innovator with deep experience in e-commerce, the digitalization of business, and leading high-growth scale organizations.”

DOCU stock rose 0.6% to 54.31 in extended trading on the stock market today. Shares ended the regular session down 1.1% to 54.

Shares in San Francisco-based DocuSign have retreated more than 64% in 2022.

DocuSign stock holds a Relative Strength Rating of only 9 out of a best-possible 99, according to IBD Stock Checkup.

Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.

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2022-09-22 13:55:00

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