Daniel Dines, billionaire and co-founder of UiPath Inc., at the automation software company's offices in Bucharest, Romania, on Thursday, May 20, 2021.
UiPath shares plunged more than 30% on Wednesday after the software company said CEO Rob Enslin is resigning effective June 1, and being replaced by co-founder Daniel Dines, who stepped down as co-CEO on Jan. 31.
Dines co-founded UiPath in 2005 with Marius Tirca.
The company makes software which automates repetitive and "menial" tasks, but its stock has suffered under Enslin's sole leadership.
Shares are down 26% year-to-date, after the company debuted in one of the largest U.S. software IPOs ever in 2021.
Persons:
Daniel Dines, Rob Enslin, UiPath, Enslin, Dines, Marius Tirca, — CNBC's Ari Levy
Organizations:
UiPath Inc
Locations:
Bucharest, Romania, U.S