Monday, 16 July 2018 02:46

Breaking News: eSignature Co. DocuSign Board Shuffles after IPO: the Founder, & Chairman and xCEO and Three VCs Step Down. Four Others Named Featured

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eSignature Co. DocuSign Board Shuffles after IPO: the Founder, & Chairman and xCEO and Three VCs Step Down. Four Others Named

Just after three months after its IPO, five of twelve of DocuSign’s board members are stepping down. The board appointed three others to the board, in addition to one that was appointed in March of this year. 

Five Board Members Stepping Down: the Founder, the Chair and xCEO and three Venture Capitalists:

  • Tom Gonser, 54, founded DocuSign in 2003 and served as its Chief Strategy Officer until 2016. Gonser is Entrepreneurial Executive at Seven Peaks Ventures in Bend Oregon and has been investing in early stage tech companies.
  • Keith Krach, 61, CEO in residence at Benchmark, served as CEO of DocuSign since August 2011 to January 2017 and Chairman of the company since 2009. Krach co-founded and served as Chair/CEO of Ariba, which was acquired by SAP in 2012 for $4.3 billion.
  • Scott C. Darling, 62, has been the President at Dell Technologies Capital, since 2016. Dell Technologies Capital was one of the investors of DocuSign and has made an exit from their portfolio company through the IPO. 
  • Rory O’Driscoll, 53, joined Scale Venture Partners, one of the investors in DocuSign, in 1994. O’Driscoll’s primary focus is on early-in-revenue software companies benefiting from the move to SaaS and the wider transition of enterprise computing to the cloud.   Scale Venture Partners went from a 3.8% ownership to 2.9 percent ownership after the IPO.
  • Jonathan Roberts, 54, founded Ignition Partners in 2000 and serves as its Managing Partner. Roberts has been a Director at DocuSign since June 2004 and represented Ignition Partners on DocuSign’s Board. Ignition has been the second largest investor of DocuSign - owning 11.7% before the IPO and 9.8% after.

As part of this planned transition, Gonser and Krach will depart the board at the end of the year, while the three others will step down at the end of August.

Joining the board: 

  • Earlier this year, in March, former Frontier Communications CEO and Executive Chairman Maggie Wilderotter, 63, to its board of directors. Present, Wilderotter serves on the public boards of Costco Wholesale Corporation, Hewlett Packard Enterprise, and Cadence Design Systems as well as a number of private and non-profit organizations. She is also a senior advisor to the Blackstone Group and Atairos Private Equity.
  • Blake Irving, 58, served as the CEO and Director of the GoDaddy since 2013. Prior, he served EVP and Chief Product Officer at Yahoo! and spent 15 years at Microsoft creating consumer products, like NetMeeting and MSN Messenger, and expanding Hotmail.
  • Steve Singh, 57, has been Chairman and CEO of Docker since May 2017. Singh was CEO of Concur Technologies since February 1996 and has been its Chairman since October 1999. He has over 20 years of experience in building and scaling world-class software companies including some of the most successful brands in technology.
  • Ms. Inhi Cho Suh, 43, is currently responsible for multi-billion dollar P&L of Watson Customer Engagement Business Unit at IBM. Prior to that, she served as GM, IBM Collaboration Solutions and VP for Big Data, Information, Integration and Governance in IBM Software Group. Inhi began her career with IBM in 1998, joining the worldwide customer set strategy team for IBM's Personal Systems Group. She then went on to hold a variety of leadership and management positions focused on strategic growth, development and marketing.

In preparation for the IPO, the Company had also hired the following executives:

  • Ms. Kirsten Wolberg, former CIO at Salesforce and VP, Technology at Paypal and Charles Schwab. as chief technology and operations officer, reporting to the CEO. 
  • Steve Krause as SVP strategy and product marketing, formerly with Oracle Marketing Cloud. 
  • Joan Burke joined September 2017, formerly of SVP of Global HR at Marketo, as   Chief People Officer reporting to CEO Dan Springer.  

Date: July 15, 2018

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Dora Vell

Dora Vell is the Managing Partner of Vell Executive Search, a boutique executive search firm in Boston focused on recruiting technology executives and board members. Vell has successfully completed numerous board member and C-level executive searches, including CEOs, COOs, CIOs, and Vice Presidents - at both public and private companies.

Prior to founding the firm in 2005, Vell was a Partner at Heidrick & Struggles' Technology practice for seven years.  Before her career in executive search, she worked at IBM for 11 years, managing software engineering organizations of 100 people and software sales organizations with revenues of $150 million. She has also served as an executive assistant to the CEO of IBM Canada for one year.

Vell holds seven worldwide software patents. She has published several Business of Leadership reports on governance and leadership and has been quoted in numerous articles including The Wall Street Journal, Forbes, Business Week, Fortune, Agenda Week, MSNBC, Mass High Tech, the OPUS for the World Economic Forum, Boston Business Journal, The Globe & Mail, CIO Magazine, and IEEE. She also has been a featured speaker on leadership at numerous conferences and at Columbia University's MBA program.

Vell is a member of the National Association of Corporate Directors (NACD), the Boston CEO Roundtable. She has served on the boards of Framingham State, Entrepreneur's Organization, Goodwill, Mary Centre for developmentally handicapped adults, garage.ca, and RBC Capital Partners.

She has received an MBA from the University of Toronto, a Master in Computer Science from the University of Waterloo, and a Bachelor in Computer Science from Carleton. She has also completed the MIT Entrepreneurial Master’s program.

www.vell.com/

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