DocuSign Hires Former Google Ads Executive Allan Thygesen as New CEO

docusign announced today Hired Alan Tigesen Thygesen was appointed as the next CEO on October 10th. Most recently, Thygesen was at Google where he served as President of the Americas and Global Partners.

He was in charge of Google’s $100 billion advertising business in the Americas, a fairly significant business and a position that would set him up for his new job.

He joins a company that continues to lead the e-signature business, but its share price has fallen significantly, down 80% over the past year and 65% year-to-date.

for latest earnings reportthe company reported healthy revenue of $622 million, up 22% year-on-year.

But these stock losses are numbers that would make the board and investors want to take action, according to former CEO Dan Springer, who has been with the company for the past five years. got off In June you will probably see it written on the wall.

Maggie Wilderotter, who took over as interim CEO after Springer stepped down, sees Tigesen as someone with experience helping the company move forward. “He is a customer-focused innovator with extensive experience leading e-commerce, business digitization, and high-growth scale organizations. The Board will help DocuSign continue to capture significant market opportunities ahead. I believe Allan is the right leader to do so,” she said in a statement.

Indeed, DocuSign is a company built for the digital age, removing a lot of the friction associated with moving documents through signatures and workflows.The company recently announced end-to-end Contract lifecycle management within SlackAnnounced earlier this year, Document signing within Zoom.

Both of these moves should help increase the use of the product within its popular enterprise SaaS offering and bode well for the company’s future.

DocuSign is clear, according to Deloitte data. E-signature market leader, with a market share of 75%. Competitors include Adobe Sign, Dropbox’s HelloSign, and Box Sign.

Wilderotter will be back in place when Tigesen starts on 10 October.

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