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Benzinga
Benzinga
Business
Wayne Duggan

DocuSign CEO Shuffle: Why One Analyst Remains On The Sidelines For Now

DocuSign DOCU Dan Springer Brad Sills Nasdaq Docusign Inc Bank of America

After a horrendous year for Docusign Inc (NASDAQ:DOCU), the company made a major announcement this week that CEO Dan Springer will be stepping down. DocuSign board chair Mary Agnes “Maggie” Wilderotter will be taking over as interim CEO, and Bank of America analyst Brad Sills said Wednesday that the management shakeup should not be a big surprise to investors.

Management Missteps: In addition to her new role at DocuSign, Wilderotter serves as a director at Costco Wholesale Corporation (NYSE:COST), Sana Biotechnology Inc (NASDAQ:SANA) and LYFT Inc (NASDAQ:LYFT). Sills said DocuSign has made several execution missteps in recent quarters, and a change of direction makes sense as the company attempts to retool and rebalance its sales team and strategy.

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