In another bad sign for DocuSign, four top executives are gone
Docusign
Four top level executives have suddenly left DocuSign: the company’s chief operating officer, chief human resources officer, chief product officer and chief growth officer, Geekwire's Todd Bishop and Taylor Soper report.
This comes after the odd experience DocuSign had with its CEO. The company had lined up a replacement for CEO Keith Krach, but the replacement backed out in March, accepting an offer at another company, DocuSign said earlier this year.
Krach announced his resignation in October, although he agreed to stay on until a new CEO was found, and agreed to stay as chairman for three years. Krach joined DocuSign as the chairman in 2010 and took over as CEO in 2012.
DocuSign has not yet formally announced the resignation of the four execs, but their names have been removed from the company's leadership page and at least one of them, COO Gordon Payne, has confirmed on LinkedIn that he left DocuSign in May.
The other executives no longer on the leadership page are HR officer Peter Navin, growth officer Mike Dinsdale and top product officer Matt Malden.
DocuSign, which allows people to sign documents electronically, raised almost $400 million of its total $528 million VC funding, most of it under Krach’s watch. It was valued at $3 billion, although some of its investors, including Fidelity Investments has since written down the valuation of its stake in the company, indicating that the investor doesnt' think its worth as much now as it once was. Many highly valued startups are experiencing the same thing now.
DocuSign was widely expected to be gearing up for an IPO, but these management changes may be a sign that the company is focused on other, more basic aspects of its operations.
DocuSign did not immediately respond to a request for comment.