DocuSign has hired former Google ad exec Allan Thygesen as its new CEO • TechCrunch

DocuSign announced today that it hired Allan Thygesen as its next CEO, effective October 10. Thygesen most recently worked at Google, where he was president of the Americas and global partners.

He’s in charge of Google’s $100 billion ad business in the Americas, a pretty important business by any means, and a preparatory position for a new job. his.

He joins a company that continues to lead the digital signature business, but a company whose stock price has dropped dramatically, down 80% over the past year and 65% year to date.

Give most recent earnings report, the company reported good sales of $622 million, up 22% year over year. It’s a nearly $2.5 billion company that’s certainly the bone of a healthy business.

Those stock losses, however, were the numbers that made the board and investors want to act, and former CEO Dan Springer, who had been with the company for the previous five years, step down in June, it is possible to see writing on the wall.

Maggie Wilderotter, who has served as interim CEO since Springer’s departure, sees Thygesen as someone with the experience to help the company move forward. “He is a customer-focused innovator with deep experience in e-commerce, business digitization, and leading high-growth organizations. The Board of Directors believes that Allan is the right frontrunner to help DocuSign continue to capture the vast market opportunity that lies ahead,” she said in a statement.

Undoubtedly DocuSign is a company built for the digital age, eliminating a lot of the inconsistencies around signing and moving documents through the workflow. The company recently announced end-to-end contract lifecycle management inside Slack. Earlier this year, it announced sign documents inside Zoom.

Both of these moves will help increase product usage within popular enterprise SaaS products, and should bode well for the company’s future.

According to data from Deloitte, DocuSign clearly The leap of the electronic signature marketr with 75% market share. Competitors include Adobe Sign, HelloSign from Dropbox, and Box Sign.

Wilderotter will return to his former position when Thygessen begins on October 10.

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