DocuSign, the popular American electronic document management company, has named former Alphabet executive Allan Thygesen as its new chief executive officer. This comes three months after the company announced the resignation of Dan Springer, who led the company as CEO for the previous five years. News of Thygesen’s hiring caused the company’s stock to bounce 3% in aftermarket trading; however, the price has dropped 64% overall in 2022.
On October 10, 2022, Thygesen took the reins from interim CEO Maggie Wilderotter, who also serves as chairman of the board. Previously, he spent just over a decade with Google’s advertising sales department, where he most recently served as the President of Americas & Global Partners. His predecessor, Springer, led DocuSign through the COVID-19 pandemic and oversaw the company’s public debut on the NASDAQ.
After experiencing a surge of business brought about by the pandemic, DocuSign’s growth has stalled and interest has waned, which likely led to Springer’s departure. Beginning in 2021, Thygesen led Google’s $100+ billion advertising business in the Americas, providing him with the experience the company hopes will steer it back toward positive growth.