Parent company Salesforce Inc said Monday that slack Chief Executive Officer Stewart Butterfield plans to leave the workplace messaging platform in January.
Lydian Jones, who is senior vice president of product management for Salesforce Commerce Cloud, will take over as CEO of Slack, a spokeswoman for the company said.
Business Insider first reported the news earlier in the day.
Shares of Salesforce, a component of the Dow Jones Industrial Average, declined about 4%.
Salesforce acquired Slack last year in a deal worth nearly $28 billion, following a massive bet that Slack’s workplace app would become popular for collaboration within and between companies.
Last week, Salesforce stock plunged after the abrupt exit of co-CEO Brett Taylor sent Wall Street off guard and raised concerns about the qualifications of having two leaders.
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