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Bloomberg
Salesforce.com Inc., a maker of cloud-based customer-relations software, is the latest technology company to embrace the idea of having two chief executives, by promoting Keith Block to run the company alongside co-founder Marc Benioff.
Block started with the San Francisco-based company in 2013, became chief operating officer in 2016 and also serves as vice chairman. He’ll remain a director, Salesforce said in
a statement.
Salesforce has been expanding into new areas, such as marketing and e-commerce, as Benioff seeks to make the company a top source of internet-based software for all kinds
of business programmes once hosted by companies on their own computer servers. That’s put it into direct competition with Oracle Corp., which also has two CEOs. Salesforce said Benioff will lead technology, marketing, stakeholder engagement and culture, while Block will be in charge of growth strategy, execution and operations.
“It lets Benioff do what he does best and maybe takes a bit of pressure off of him,†said Pat Walravens, an analyst at JMP Securities. “This is a big company that keeps getting bigger; they need a sustainable leadership structure.â€
Salesforce dominates the market for software that manages customer relationships, the business that made it an early leader in corporate cloud computing. It acquired MuleSoft Inc. for $6.5 billion — its largest-ever purchase — in May to challenge Oracle in integration software that connects various systems.