(Reuters) -Salesforce Inc said on Wednesday that Bret Taylor would step down as co-chief executive officer, sending its shares down 5% in extended trading.
The company said Marc Benioff would take the role of chief executive officer.
Separately, Salesforce also raised its annual profit forecast, betting on resilient demand for its cloud-based software as more businesses transform to a hybrid work model.
A diverse portfolio of products including its Customer 360 platform and the newly acquired workplace messaging app Slack have helped Salesforce attract customers at a time when digital transformation is becoming a priority, even as businesses are bracing for a broader economic downturn.
Revenue for the quarter ended Oct. 31 was $7.84 billion, compared with analysts’ average expectation of $7.82 billion, according to Refinitiv IBES data.
The company now expects annual adjusted profit per share between $4.92 and $4.94, compared with $4.71 to $4.73 forecast earlier.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri and Sriraj Kalluvila)
