SaaS Company Freshworks Names Dennis Woodside New CEO, Girish Mathrubootham Now Exec Chairman

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Three points you will get to know in this article:

  • Girish Mathrubootham steps down as CEO, Dennis Woodside takes over at Freshworks.
  • Woodside and Mathrubootham collaborate for a smooth leadership transition..
  • Freshworks remains optimistic about its future despite share value decline.

Freshworks' Transition in Leadership

Founder of Freshworks, Girish Mathrubootham, has gracefully transitioned from his role as CEO after 14 years at the helm. While Mathrubootham takes on the mantle of Executive Chairman, Dennis Woodside, the company’s President, steps into the role of CEO.

Mathrubootham’s New Role as Executive Chairman

In a recent blog post, Mathrubootham expressed his excitement about his new role as Executive Chairman, where he plans to focus on Freshworks’ long-term product vision and AI. He also looks forward to spending more time with the teams in India and offering his guidance as a trusted advisor to Dennis. Despite the change in leadership, the company’s mission remains steadfast, and Mathrubootham is optimistic about the future under Dennis’ leadership.

Woodside's Background and Appointment as CEO

Woodside, a seasoned professional in the industry, joined Freshworks back in September 2022. Prior to this, he held pivotal positions, including CEO roles at Dropbox (from August 2014 to September 2018) and Motorola (from May 2012 to April 2014), among others.

Mathrubootham expressed his anticipation when he brought Dennis on board at Freshworks, envisioning him as his eventual successor. He emphasized their collaborative effort to ensure a smooth transition, prioritizing the needs of both customers and employees.

“We’ve been collaborating for over 18 months now, witnessing Dennis’s profound grasp of the Freshworks enterprise, his genuine fondness for our work and the people in India, his knack for attracting top-tier talent and assembling stellar teams, and his knack for operational excellence. These qualities leave me fully assured that he’s the perfect fit to step into the CEO role,” he remarked.

Freshworks: The Journey and Present Status

Freshworks, originally Freshdesk, kicked off its journey in 2010 in Chennai, later relocating to the US. In 2021, it made its debut on the Nasdaq stock exchange with a billion-dollar IPO. In his announcement, Mathrubootham revealed that the company caters to over 67,000 customers worldwide and boasts a workforce of nearly 5,000 employees.
In the initial quarter of 2024, Freshworks disclosed a total revenue of $165.5 million, coupled with a non-GAAP operating profit standing at $21.8 million. Presently, as we bring this piece to light, Freshworks’ shares are valued at $18.25 in the trading market, marking a notable decline from the initial share price of $43.5.

In a significant leadership transition at Freshworks, Founder Girish Mathrubootham assumes the role of Executive Chairman while President Dennis Woodside becomes CEO. Mathrubootham aims to focus on the company’s long-term vision, AI, and mentorship to Woodside. With Woodside’s extensive background, including key positions at Dropbox and Motorola, Mathrubootham envisions him as the perfect successor. Their collaborative efforts prioritize a smooth transition, ensuring continuity for customers and employees. Freshworks’ journey from Chennai to the US, a billion-dollar IPO, and impressive customer base and revenue highlight its growth. Despite a decline in share value, Freshworks remains optimistic about its future under Woodside’s leadership.

Karan Balodi

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