Salesforce.com Inc. (NYSE:CRM) has created a team of executive talents since it acquired Quip for $750 million in 2016. The software giant gained the leadership of Quip CEO and co-founder Bret Taylor who has since climbed the ranks to become COO and president second in the company to Salesforce’s CEO Marc Benioff.
Salesforces has experienced executive talent
For over 20 years Benioff has been running Salesforce and has not given a hint of when he plans to leave the company. However, if he steps down from his role already the company has built a talented executive time that comprises of experienced CEOs, who just like Taylor joined the company through acquisitions. Taylor’s experience is an indication that the founders of startups can sometimes be vital in companies that buy them.
Benioff, 56, and his wife have been actively participating in charity and in 2016 they signed The Giving Pledge. This is a charitable initiative of the Bill and Melinda Gates Foundation in which wealthy individuals give to philanthropy. There has been speculation that Benioff could want to focus more on pursuing his charitable initiatives just as Bill Gates did 20 years ago after leaving Microsoft Corp (NASDAQ:MSFT) which he founded to run his foundation full time. Despite this being speculative, Salesforce has a talented team of executives with massive industry experience that can easily fill his role.
Co-CEO concept could work for Salesforce
Salesforce could resurrect the co-CEO role as a way of Benioff stepping back from the huge work of running the company. Sharing of the role could be a great way to ease the responsibility considering for over a year since the start of 2018 he shared the role with Keith Block who left in 2019. The sharing of responsibilities worked well with Keith handling large customers and helping Salesforce reach its revenue goal of $20 billion.
Before becoming co-CEO Keith held high profile roles such as COO and president just like Taylor holds currently. Considering the co-CEO concept works for most enterprises and it could be a way Salesforce fills the CEO role should Benioff step down.