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DocuSign CEO Dan Springer Steps Down

DocuSign (DOCU) Tuesday announced that CEO Dan Springer is stepping down, effective immediately. Chairman of the Board Mary Agnes "Maggie" Wilderotter is appointed interim CEO.

The Board has retained a executive search firm to assist with succession planning and the CEO search. Wilderotter will continue as Chairman of DocuSign's Board of Directors. Pete Solvik has been appointed Lead Independent Director.

The company did not reveal the reason behind Springer's decision to step down, but said that he "has agreed to step aside."

"Helping to build DocuSign and lead a world-class team over the last five years has been the work of my life," said Springer. "What we've accomplished will help the company take advantage of a massive market opportunity for future growth."

Springer took on the reins of DocuSign in 2017 and took the company public in 2018.

Springer's resignation comes just two weeks after DocuSign reported a weak result for the first quarter, with earnings falling short of analyst expectations.

Wilderotter joined DocuSign's Board of Directors in March 2018. For more than ten years, Wilderotter served in a number of senior leadership roles at Frontier Communications Corp., including as Executive Chairman of the Board of Directors from 2015 to 2016; Chairman and Chief Executive Officer from 2006 to 2015; and President, Chief Executive Officer and a Director from 2004 to 2006.

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