DocuSign hires former Google advertising executive Allan Tigesen as new CEO • CableFree TV

Published by
Peter Kavinsky

DokuSign announced today that he hired Allan Tygesen as the next CEO effective October 10. Tygesen most recently worked at Google, where he was President of the Americas and Global Partners.

He ran Google’s $100 billion advertising business in America, a pretty big business by any measure, and a position that would prepare him for his new job.

He is joining a company that continues to lead the digital signature industry but whose share price has plummeted, down 80% in the last year and down 65% since the start of the year.

For latest income statement, the company reported healthy revenue of $622 million, up 22% from the previous year. This is a company with an annual turnover of almost $2.5 billion, which is certainly the basis of a healthy business.

However, these stock losses are causing boards and investors to take action, and former CEO Dan Springer, who has been with the company for the previous five years, resigned in June, probably after seeing the writing on the wall.

Maggie Wilderother, who has taken over as CEO since Springer’s departure, sees Tygesen as someone with the experience to help the company move forward. “He is a customer-focused innovator with extensive experience in e-commerce, business digitalization, and leading high-growth organizations. The Board believes Allan is the right leader to help DocuSign continue to capitalize on the huge market opportunities that lie ahead of us,” the statement said.

Undoubtedly, DocuSign is a company built for the digital age that eliminates many of the hassles associated with signing and moving documents in a workflow. The company recently announced an end-to-end contract lifecycle management inside Slack. Earlier this year it was announced signing documents inside Zoom.

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

According to Deloitte, DocuSign is clear market leader in electronic signature, with a market share of 75%. Competitors include Adobe Sign, Dropbox’s HelloSign, and Box Sign.

The Wilderrotter will return to its original position when Tigessen starts on 10 October.

Peter Kavinsky

Peter Kavinsky is the Executive Editor at cablefreetv.org

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