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☆ Salesforce insiders say that by wooing back former execs, Marc Benioff may finally feel comfortable enough to loosen his grip
▼ + stars: | 2023-06-12 | by ( Julie Bort | ) www.businessinsider.com time to read: +5 min

Salesforce CEO Marc Benioff has been wooing back former executives for years. Insiders say that those that know Benioff best may get him to loosen his grip. Salesforce founder and CEO Marc Benioff has spent years wooing former executives back to the company. Benioff has surrounded himself with people "that know how Salesforce works and know how Benioff works" one former exec explained. With all of that new blood from aquisitions washed away, Benioff seems to think Salesforce can move forward by going back.

Persons: Marc Benioff, Brian Millham, Millham, Salesforce, Benioff, he's, Miguel Milano, Ariel Kelman, Kendall Collins, Steve Fisher, Dave Moellenhoff, Jim Steele, Clara Shih, Marc, —, Larry Ellison, Benioff's, Keith Block, Bret Taylor, Slack, Stewart Butterfield, Mark Nelson, Julie Bort Organizations: Oracle, Twitter Locations: Salesforce

☆ Fmr. Salesforce Co-CEO Keith Block says private company CEO's are looking for guidance right now
▼ + stars: | 2023-05-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Salesforce Co-CEO Keith Block says private company CEO's are looking for guidance right nowFmr. Salesforce Co-CEO and Smith Point Capital CEO Keith Block joins 'Closing Bell Overtime' to discuss Smith Point Capital's recent partnership with ServiceNow, the state of the investing space, and more.

☆ ServiceNow targets enterprise-software startups with $1 bln investment in venture arm
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

May 17 (Reuters) - Cloud-computing firm ServiceNow Inc (NOW.N) said on Wednesday it would invest $1 billion in its venture arm by 2026 to back enterprise software-focused startups in artificial intelligence and automation, among others. The investment in ServiceNow Ventures comes at a time when funding for early-stage technology companies has dried up due to rising interest rates and high inflation. Since its inception in 2015, the venture arm has invested about $300 million across 45 companies. "Enterprise software is more mission-critical than ever before, as companies look to drive innovation, efficiency and productivity," the California-based company said. Last month, ServiceNow became a strategic partner and anchor investor in Smith Point Capital Fund I, an enterprise software-focused venture investment firm founded by former Salesforce Inc (CRM.N) co-CEO Keith Block.

☆ Marc Benioff says he has a successor. A leaked Salesforce org chart identifies the likely candidates.
▼ + stars: | 2023-05-04 | by ( Ashley Stewart | Ellen Thomas | ) www.businessinsider.com time to read: +3 min

Marc Benioff's succession plan appeared to fall apart when co-CEO Bret Taylor resigned on Nov. 30. "I always have a succession plan," Benioff told Insider. A leaked Salesforce organizational chart identifies the likely candidates who are next in line. Salesforce CEO Marc Benioff says he has a successor in mind and a leaked Salesforce organizational chart identifies the likely candidates who are next in line. "I always have a succession plan," Benioff told Insider in an interview.

Salesforce CEO Marc Benioff gave executives lavish gifts including Cartier watches. Its marketing chief was given an Aston Martin, while another executive got an electric BMW. Marc Benioff pulls out all the stops when it comes to buying gifts for some executives. Insider revealed last week that the Salesforce CEO has generously given some watches costing five figures and cars costing well into six figures. Benioff is known for handing out $10,000 Cartier watches at Salesforce executive meetings.

☆ Benioff vs. Benioff
▼ + stars: | 2023-04-28 | by ( Ashley Stewart | Ellen Thomas | ) www.businessinsider.com time to read: +29 min

Within Salesforce, Benioff riffs are at times met with backlash from an angry workforce. "You're not going to fire your family during times of need," a former Salesforce executive told Insider. "I don't think they understand Ohana," Benioff told Insider. "Look, we have to be the example of stakeholder capitalism," Benioff told Insider. A 'New Day' at Salesforce"I use the Japanese principle of shoshin, beginner's mind," Benioff told Insider in a phone interview in March.

☆ There are growing expectations that Salesforce is readying a succession plan to appease activist investors. 'There's not a lot of people sitting on the bench,' one analyst said.
▼ + stars: | 2023-03-01 | by ( Ellen Thomas | Ashley Stewart | ) www.businessinsider.com time to read: +8 min

Analyst said any succession plan would be about giving investors "comfort" about the future. Company insiders, former employees and Wall Street analysts increasingly expect Salesforce to put a succession plan in place soon. 'If he's willing to work with the activists, then he can stay CEO'Analysts think that if a succession plan is announced soon, it won't include Benioff's immediate exit. "Benioff is Salesforce and Salesforce is Benioff," said Dan Ives, an analyst at Wedbush Securities. Bret Taylor, former Salesforce executive SalesforceTaylor's departure in late November left Salesforce with a limited bench of potential successors.

☆ Cramer sees a 'good chance' Salesforce's Benioff will soon announce succession plans
▼ + stars: | 2023-02-25 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

Jim Cramer suggested Saturday that plans for a leadership change at Club holding Salesforce (CRM) — helmed by co-founder Marc Benioff for more than two decades — may be disclosed in the near future. CRM YTD mountain Salesforce (CRM) YTD performance In early January, Salesforce announced a cost-cutting plan that included layoffs and office space reductions — moves that Jim has said were pushed for by Starboard . While Benioff has said he's "never leaving" Salesforce , the company has twice elevated an executive to the role of co-CEO. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Marc Benioff, founder, chairman and CEO of enterprise cloud computing company Salesforce.

☆ Salesforce has a succession crisis. Cofounder Marc Benioff is taking increasing control over the company — alienating his top lieutenants and dialing up pressure on employees.
▼ + stars: | 2022-12-07 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +9 min

Salesforce insiders attribute these departures to Marc Benioff's response to recent economic headwinds. Last week, Salesforce revealed heir apparent Bret Taylor's plans to leave the company — exactly one year after taking over as co-CEO alongside Benioff. Lately, employees said, Benioff has turned those meetings into a tribunal for his sales executives. While the pandemic was a boon for the company, Salesforce has since trimmed its annual revenue projections to roughly $30 billion down from the roughly $31 billion in May. Salesforce's co-CEO model has failedAs Benioff puts pressure on sales executives, people close to him said he's exerting increasing control over C-Suite executives.

☆ Salesforce shares tumble after surprise exit of co-CEO Taylor
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +2 min

[1/2] Bret Taylor, Co-CEO of Salesforce, speaks at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. Jefferies analysts said the surprise exit indicated that the "co-CEO model is not working with two departures in three years." Benioff tapped Taylor as co-CEO in 2021, to replace Oracle (ORCL.N) executive Keith Block who stepped down from the role just before the pandemic began. He was previously chief operating officer and chief product officer of the company. "We view this leadership change as a significant blow given his leadership role on product," Needham analysts said in a note.

☆ We understand why Salesforce's Benioff went to such great lengths to keep co-CEO Taylor
▼ + stars: | 2022-12-01 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

Salesforce 's (CRM) Marc Benioff tried "everything he could" to convince Bret Taylor to remain at the enterprise software maker as co-CEO, Jim Cramer said Thursday, but those efforts were unsuccessful. "Marc did everything he could to keep [Taylor], and he did a great job, but the opportunities were great [for Taylor]," Jim said Thursday morning, drawing on his impressions from talking to Benioff following the Taylor exit announcement. Reflecting on that conversation one day later, Jim said Benioff was "extremely emotional" before the interview began, calling it a "hold-back-tears moment." Jim said Taylor is definitely leaving for "different reasons" than Keith Block, who served as Salesforce co-CEO alongside Benioff from August 2018 to February 2020. "[Taylor] beat Musk," Jim said.

☆ Salesforce employees say they're blindsided by Bret Taylor's departure as Marc Benioff swears he'll get him back: 'don't think you're gonna somehow get out of this alive because you're not'
▼ + stars: | 2022-12-01 | by ( Matthew Lynley | Ashley Stewart | ) www.businessinsider.com time to read: +6 min

Salesforce co-CEO and heir apparent Bret Taylor announced he is leaving the company. Benioff wasn't alone: many at the company were blindsided by the departure with no notice given, employees and others close to the company told Insider. At Salesforce, Taylor oversaw the $27.7 billion acquisition of Slack as COO and the launch of its real-time customer analytics tool, Genie, as co-CEO. "Just when Benioff thought he had his succession plan all figured out Taylor steps down," a recent former employee told Insider. Multiple people close to the company told Insider that Salesforce's "bench" was thin, though Benioff heavily complimented Taylor's team when asked about a potential replacement on the earnings call.

Salesforce said Wednesday that Bret Taylor will step down as co-CEO on Jan. 31, leaving Marc Benioff alone again at the top of the cloud software company he co-founded in 1999. Benioff closely embraced Taylor, who joined the company in 2016, when he sold his productivity software startup Quip to Salesforce. "I am grateful for six fantastic years at Salesforce," Taylor said in a statement on Wednesday. Before Quip, Taylor sold FriendFeed to Facebook and helped to create Google Maps. But the company's stock was down as much as 6% in after-hours trading.

☆ Leaked Salesforce org chart shows the 12 most important execs under Marc Benioff and and outgoing co-CEO Bret Taylor
▼ + stars: | 2022-08-18 | by ( Matthew Lynley | Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Salesforce co-CEO and heir apparent Bret Taylor is leaving the company. A leaked organizational chart shows who the top execs under Taylor and Marc Benioff are now. A leaked Salesforce organizational chart viewed by Insider shows most of the company's top executives report directly to Taylor, and only two reporting to Benioff. That's compared to 2021, when Insider viewed an org chart that showed Benioff with 13 direct reports, including then-COO Bret Taylor. Read on for the details on how these 12 execs became the new leaders of Salesforce as co-CEO Taylor exits the company.

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