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DocuSign follows Q1 growth with leadership shake-up

An interim CEO has been handed the reins of digital workplace software company DocuSign after Dan Springer stepped aside, while senior executives search for a new chief to lead a new phase of growth.

Maggie Wilderotter, current chair of the board, will helm DocuSign while the hunt for a new chief continues, with Pete Solvik appointed lead independent director.

Solvik said that DocuSign is now poised to capitalise on accelerated digital transformation in customers large and small.

“DocuSign has the people, the products and the brand to transform the way the world agrees, making us a leader in our ‘anywhere economy’,” Solvik said.

The announcement comes shortly after DocuSign reported revenue growth in its first quarter of fiscal year 2023 of 25%, including 26% in subscriptions sales.

Wilderotter said DocuSign’s focus would be on helping customers maximise the market opportunity that comes with the digital transformation of agreements worldwide.

She would be looking at “improving execution and continuing to drive profitability at scale”, she said.

DocuSign offers products including eSignature document e-signing software as part of its Agreement Cloud, with the stated aim of connecting and automating how organisations prepare, sign, act on, and manage agreements.

Agreement Cloud has about a million customers and a billion users in over 180 countries, according to the company.

DocuSign‘s fiscal first quarter ended 30 April 2022. Year over year, 67,000 new customers were added.

Total revenue was $589 million (£496m); subscription revenue $569 million, an increase of 26% year-over-year. Professional services and other revenue was $19 million, 13% up on the previous year.

Billings were up 16% in the quarter to $614 million.

Other executive appointments included Steve Shute as the new president of worldwide field operations, Inhi Cho Suh as president of product and technology, and Jerome Levadoux as chief product officer.

( Image by Gerd Altmann from Pixabay )

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