Dennis Woodside to guide Freshworks as CEO, Mathrubootham shifts to Chairman position

Freshworks Inc., a Chennai/US-based IT firm, has appointed Dennis Woodside as its CEO and president, efficient later immediately. Woodside, presently Freshworks’ President, will succeed Girish Mathrubootham, the corporate’s Founder, as CEO. 

Mathrubootham will transition to a brand new position of Govt Chairman. He’ll stay the chairman of the Board of Administrators, and Woodside can even stay a member of the Board of Administrators, says an organization assertion. 

The announcement led to a 21 per cent decline within the share worth to $13.71 within the prolonged buying and selling. 

Since founding Freshworks in 2010, Mathrubootham has remodeled Freshworks from a startup in Chennai into a number one SaaS firm headquartered in San Mateo, US, with merchandise that make it simple for each enterprise to thrill their staff and prospects. He steered Freshworks via an IPO on Nasdaq in September 2021, making Freshworks the primary India-born SaaS agency to commerce on a US alternate. Beneath his management, the enterprise has grown to serve greater than 67,000 prospects globally, powered by roughly 4,900 gifted staff working globally in 13 places. 

“Once I first proposed this subsequent step to the Freshworks Board, we have been beginning to chart the subsequent section of our firm’s journey. We introduced Dennis on board to accomplice with me on crafting an bold development plan, and my hope was that he might ultimately lead the group of gifted staff all over the world to execute it, which might enable me to spend extra time on the long-term product imaginative and prescient, innovation and AI technique,” stated Mathrubootham. “Dennis has a deep understanding of Freshworks’ enterprise, prospects and our staff, and a powerful observe report of constructing and scaling giant international groups – he’s the correct chief to grow to be our subsequent CEO. I’m thrilled to announce this transition.” 

Woodside joined Freshworks as President in September 2022. Since then, Woodside has accelerated Freshworks’ investments in enterprise-grade merchandise and pushed elevated give attention to the expansion of mid-market and enterprise prospects. 

For the primary quarter ended March 31, 2024, the reported decrease web loss from operations of $32.2 million in contrast with $48.1 million within the first quarter of 2023. Complete income was $165.1 million, a 20 per cent development over the identical quarter final 12 months.