"Bhusri's return to the top job at the human resources software company reflects the belief that only a founder with billions on the line and a personal legacy at stake has the unique vision and authority to steer the ship through difficult waters. And with majority voting control plus operational authority as CEO, Bhusri will have more power to make any difficult changes he sees necessary."
"The AI panic rippling through enterprise software stocks for the past couple of weeks has helped wipe out some $40 billion in value at Workday, slashing its market cap in half from an all-time high of $80 billion. The stock has fallen 51% to roughly $150 a share from an intraday peak of $311.28 less than two years ago. This year alone, the stock is down 29% amid the broad bloodbath subsuming the SaaS industry."
Workday brought cofounder Aneel Bhusri back as CEO to counter AI-driven market pressures on enterprise software and to leverage founder vision and authority. Bhusri will hold majority voting control and operational authority as CEO, enabling significant changes. The company offered a $138.8 million package including cash, performance-based awards and restricted stock. About $75 million depends on undisclosed stock-price targets over five years, while roughly $60 million in restricted stock vests for tenure over four years without performance conditions. The compensation structure signals deep investor skepticism about SaaS firms' ability to navigate the AI transition. Workday's market value fell roughly $40 billion amid the selloff.
Read at Fortune
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