Seasoned executive and DocuSign Chairman Mary
Agnes "Maggie" Wilderotter appointed interim CEO
SAN
FRANCISCO, June 21, 2022 /PRNewswire/
-- DocuSign (NASDAQ:DOCU) announced today that Dan Springer has agreed to step aside as Chief
Executive Officer. Effective immediately, Chairman of the Board
Mary Agnes "Maggie" Wilderotter is appointed interim CEO to help
the senior executive team drive improved execution in all phases of
the company's business. The Board has retained a leading national
executive search firm to assist with succession planning and the
CEO search. Wilderotter will continue as Chairman of DocuSign's
Board of Directors. Pete Solvik has
been appointed Lead Independent Director.
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"DocuSign has the people, the products and the brand to
transform the way the world agrees, making us a leader in our
Anywhere Economy. As we turn the page and begin DocuSign's next
great chapter, I'd like to express our gratitude on behalf of the
full Board to Dan Springer for his
leadership through a period of unprecedented growth over the past
five years, which has positioned DocuSign to capitalize on the
strong trends that are driving accelerated digital transformation
at companies large and small," said Solvik.
"Helping to build DocuSign and lead a world-class team over the
last five years has been the work of my life," said Springer. "What
we've accomplished will help the company take advantage of a
massive market opportunity for future growth."
Wilderotter joined DocuSign's Board of Directors in March 2018. She brings a wealth of experience in
technology and enterprise services in addition to her four years on
DocuSign's Board. For more than ten years, Wilderotter served in a
number of senior leadership roles at Frontier Communications Corp.,
including as Executive Chairman of the Board of Directors from 2015
to 2016; Chairman and Chief Executive Officer from 2006 to 2015;
and President, Chief Executive Officer and a Director from 2004 to
2006. Wilderotter is also a public company Director at Costco
Wholesale Corp., Sana Biotechnology and Lyft, Inc.
"Maggie's extensive experience managing executive teams as well
as boards of directors make her the natural choice to lead the
company during our search process," said Solvik. "Her deep
understanding of DocuSign's strategy, as well as her broad
experience, will help her drive improved execution as the Board's
search for our new CEO is underway.
"I'm excited to lead DocuSign in this new capacity as we focus
on helping our customers maximize the market opportunity that comes
with the digital transformation of agreements worldwide," said
Wilderotter. "I look forward to improving execution and continuing
to drive profitability at scale for our company with the talented
and capable DocuSign team."
About DocuSign
DocuSign helps organizations connect and automate how they
prepare, sign, act on, and manage agreements. As part of the
DocuSign Agreement Cloud, DocuSign offers eSignature, the world's
#1 way to sign electronically on practically any device, from
almost anywhere, at any time. Today, over a million customers and
more than a billion users in over 180 countries use the DocuSign
Agreement Cloud to accelerate the process of doing business and
simplify people's lives. For more information, visit
www.docusign.com
Copyright 2022. DocuSign, Inc. is the owner of DOCUSIGN® and all
its other marks (www.docusign.com/IP).
Media Relations:
DocuSign Corporate Communications
media@docusign.com
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, that are based on our management's beliefs and assumptions
and on information currently available to management, and which
statements involve substantial risk and uncertainties.
Forward-looking statements include all statements that are not
historical facts and can be identified by terms such as "may,"
"will," "plans," "potential," or "continue" or the negative of
these words or other similar terms or expressions that concern our
expectations, strategy, plans or intentions. Forward-looking
statements in this press release include, among other things,
statements about growth in revenue, customers, or other financial
metrics; the pace and scale of digital transformation; and our
objectives for future operations and executive recruitment and
retention. These statements are subject to substantial risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements.
These risks and uncertainties include, among other things, risks
related to our ability to hire, retain and motivate qualified
personnel; our expectations regarding the continuing impact of the
COVID-19 pandemic, including the easing of related regulations and
measures as the pandemic and its related effects begin to abate or
have abated, on our business, results of operations, financial
condition, and future profitability and growth; our expectations
regarding the impact of the evolving COVID-19 pandemic on the
businesses of our customers, partners and suppliers, and the
economy, as well as the macro- and micro-effects of the pandemic,
including the pace of the digital transformation of business and
differing levels of demand for our products as our customers'
priorities, resources, financial conditions and economic outlook
change; global macro-economic conditions, including the effects of
inflation, rising interest rates and market volatility on the
global economy; our ability to estimate the size of our total
addressable market, and the development of the market for our
products, which is new and evolving; our ability to effectively
sustain and manage our growth and future expenses, achieve and
maintain future profitability, attract new customers and maintain
and expand our existing customer base; our ability to scale and
update our platform to respond to customers' needs and rapid
technological change; the effects of increased competition in our
market and our ability to compete effectively; our ability to
expand use cases within existing customers and vertical solutions;
our ability to expand our operations and increase adoption of our
platform internationally; our ability to strengthen and foster our
relationships with developers; our ability to expand our direct
sales force, customer success team and strategic partnerships
around the world; the impact of any data breaches, cyberattacks or
other malicious activity on our technology systems; our ability to
identify targets for and execute potential acquisitions; our
ability to successfully integrate the operations of businesses we
may acquire, and to realize the anticipated benefits of such
acquisitions; our ability to maintain, protect and enhance our
brand; the sufficiency of our cash, cash equivalents and capital
resources to satisfy our liquidity needs; limitations on us due to
obligations we have under our credit facility or other
indebtedness; our failure or the failure of our software to comply
with applicable industry standards, laws and regulations; our
ability to maintain, protect and enhance our intellectual property;
our ability to successfully defend litigation against us; our
ability to attract large organizations as users; our ability to
maintain our corporate culture; our ability to offer high-quality
customer support; our ability to estimate the size and potential
growth of our target market; uncertainties regarding the impact of
general economic and market conditions, including as a result of
regional and global conflicts or related government sanctions; and
our ability to maintain proper and effective internal controls.
Additional risks and uncertainties that could affect our financial
results are included in the sections titled "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our annual report on Form 10-K for the
fiscal year ended January 31, 2022
filed on March 25, 2022, our
quarterly report on Form 10-Q for the quarter ended April 30, 2022 filed on June 9, 2022 with the Securities and Exchange
Commission (the "SEC"), and other filings that we make from time to
time with the SEC. In addition, any forward-looking statements
contained in this press release are based on assumptions that we
believe to be reasonable as of this date. Except as required by
law, we assume no obligation to update these forward-looking
statements, or to update the reasons if actual results differ
materially from those anticipated in the forward-looking
statements.
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SOURCE DocuSign, Inc.