Stewart Butterfield, the CEO of Slack, intends to depart the business messaging app in January, according to a statement made on Monday by parent company Salesforce Inc (CRM.N).
Lidiane Jones, senior vice president of product management for Salesforce Commerce Cloud, will take over as CEO of Slack, as per the spokesperson.
The news was initially published by a publication earlier in the day. The Dow Jones Industrial Average (.DJI) component of Salesforce’s stock fell roughly 4%.
Salesforce made a significant bet that Slack’s workplace software will be used often for internal and external company interactions, and acquired Slack last year in a nearly $28 billion deal. Last week, Salesforce stock plummeted as co-CEO Bret Taylor abruptly left the company, surprising Wall Street and raising questions about the value of having two leaders.