Girish Mathrubootham, the founder of Freshworks, has resigned from his role as CEO after leading the company for 14 years. Transitioning into the position of Executive Chairman, Mathrubootham will be succeeded by Dennis Woodside, the current president of the company.
In a blog post, Mathrubootham expressed his anticipation of continuing his service to Freshworks by focusing on long-term product vision and AI, dedicating more time to teams in India, and providing guidance to Dennis in his new role. Despite the change in leadership, the company’s mission remains steadfast, with Mathrubootham expressing confidence in the future under Woodside’s leadership.
Woodside, an experienced figure in the industry, joined Freshworks in September 2022, boasting previous roles as CEO of Dropbox and Motorola. Mathrubootham expressed his initial intention for Woodside to succeed him, citing their collaborative efforts over the past 18 months and Woodside’s deep understanding of the company’s operations and culture.
Originally founded in Chennai in 2010 and later relocating to the US, Freshworks made its mark with a successful IPO on the Nasdaq in 2021. Mathrubootham disclosed that the company serves over 67,000 customers globally and employs nearly 5,000 individuals.
Despite fluctuations in its stock performance, Freshworks reported a consolidated revenue of $165.5 million and a non-GAAP operating profit of $21.8 million in the first quarter of 2024. As of the latest update, the company’s shares were trading at $18.25, a significant decline from its debut price.