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ServiceNow: 5 Things You Need To Know About Changes At The Top

In a surprise announcement Tuesday, ServiceNow announced that its CEO John Donahoe was leaving to lead Nike, and former SAP CEO Bill McDermott would take over.

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The Executive Shuffle

ServiceNow CEO John Donahoe, who in May sat down with CRN to talk about the future of the company, the new partner program, as well as the brass ring of reaching $10 billion in annual revenue, announced that he is quitting the hugely successful ITSM platform to run Nike.

Taking over for him will be former SAP CEO Bill McDermott, who lead that company until about two weeks ago. Unlike Donahoe, McDermott has spent decades working in the IT industry, joining SAP in 2002.

The company is expected to announce earnings on Oct. 23, the day after this news hit. Preliminary third quarter numbers shows total revenue growth of 32 percent year over year, which translates to $885.8 million for the quarter. However ServiceNow’s share price has plunged from $302.31 on July 11 to $228.34 at Tuesday’s close, a loss of 24 percent of its value, for what has been the hottest name in ITSM.

 
 
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