Former eBay and Bain & Company CEO John Donahoe to join ServiceNow as CEO, president.
John Donahoe, chairman of the board of directors at PayPal and former president of eBay, attends the annual Allen & Company Sun Valley Conference, July 5, 2016 in Sun Valley, Idaho.
Enterprise cloud services firm ServiceNow has named John Donahoe president and CEO on Monday. The former eBay CEO and president will succeed current ServiceNow president and CEO Frank Slootman, who is stepping down from his management role on April 3 and will continue to serve as chairman of the board.
Prior to joining ServiceNow, Donahoe was CEO and president at eBay from 2008 to 2015. During his tenure there, revenues more than doubled to $18 billion. Previously, Donahoe spent more than 20 years at consulting firm Bain & Company where he eventually served as CEO.
“John is a highly capable and proven CEO, uniquely suited to lead ServiceNow in its next phase of growth and we are thrilled that the Board’s search for my successor has resulted in John joining the Company,” Slootman said in a statement. “John’s extensive track record of creating value, driving innovation and scaling a large technology organization will be critical as we continue to move ServiceNow up the enterprise value chain. Our goal going forward is to not just serve the IT executive ably, but to help CEOs solve their most pressing issues, and there is nobody better to help us get there than John.”
Slootman added that it has been a “privilege to lead ServiceNow as CEO for the past six years.”
“I am honored to lead ServiceNow,” Donahoe said. “Frank has done a tremendous job building the company into the fastest growing enterprise software company in the world. ServiceNow is extremely well positioned to expand its leadership in the years ahead. Working alongside Frank and the Board, the management team and I intend to capitalize on our opportunities to drive growth and create value for our customers, partners, shareholders and employees.”
Currently, Donahoe serves as chairman of the board at PayPal, while serving on the board of directors for Nike, Intel, and nonprofit advisor The Bridgespan Group.
Donahoe joins the company as analysts have identified ServiceNow as a potential target for acquisition this year as companies look to expand their cloud services. ServiceNow declined to comment.
In the fourth quarter of 2016, ServiceNow subscription revenues grew 41 percent year-over-year to $344.6 million.
"We finished 2016 with strong momentum and our business is firing on all cylinders,” Slootman said in January. “Total revenues in 2016 grew 38 percent making ServiceNow the fastest growing enterprise software company with more than $1 billion in revenue."
In February, ServiceNow announced a multi-year, strategic partnership with IBM to offer ServiceNow’s cloud-based service automation platform and IBM products and services.
Last month, ServiceNow acquired DxContinuum to leverage machine-learning capabilities and data models developed by the machine learning company in its ServiceNow platform and across its products.