00:00It's Benzinga bringing Wall Street to Main Street
00:02Workday said Monday that CEO Carl Eschenbach has stepped down and will be replaced by co-founder
00:07Anil Busri, effective immediately, according to CNBC. Busri returns as CEO after holding
00:13multiple leadership roles at Workday since 2009, while Eschenbach became co-CEO in 2022
00:19and served as sole CEO starting in 2024. Software stocks such as Workday have faced
00:25pressure in recent months as investors worry about artificial intelligence disrupting
00:30the sector. Shares fell 17% last year and are down more than 25% year-to-date. Busri said
00:36Workday is entering a pivotal moment, with artificial intelligence representing a larger transformation
00:41than software as a service and shaping the next generation of market leaders. Workday cut
00:47roughly 1,750 jobs last year to increase AI investment. For all things money, visit Benzinga.com.
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