Gene Farrel, SmartsheetChief Strategy and Product Officer of ‘s, leaves to become CEO of a financial technology startup, the Bellevue-based labor management technology company he said in a regulatory filing this morning.
Smartsheet also raised its financial guidance for its fiscal third quarter, which ended October 5. 31, citing stronger-than-expected demand for its technology.
Farrell’s arrival at Smartsheet in 2017 made headlines when his previous employer, Amazon, below to prevent him from taking the job pursuant to its non-competition agreement. Amazon then he dropped the suit, claiming to have reached an agreement to place temporary restrictions on Farrell’s work.
Its departure from Smartsheet, effective December 1. 10, is part of a larger executive reshuffle announced by the company on Friday morning.
- Jolene Marshall, deputy general counsel, will become chief legal officer, replacing Paul Porrini.
- Stephen Branstetter, senior vice president of operations, will become Smartsheet’s first chief operating officer.
- Praerit Garg, executive vice president of engineering, will transition from CTO to chief product officer.
- Andrew Bennett, senior vice president of commercial sales and demand generation, will become chief marketing officer.
“With these new appointments, we are well positioned to support our next chapter of success and growth,” Mark Mader, CEO of Smartsheet said in a press release.
Mader added, “I want to thank Gene and Paul for their contributions to Smartsheet over the past four years, when we completed a successful IPO, we took the business from $ 100 million to over $ 500 million in annual recurring revenue, completed. four acquisitions and expanded our global presence. “
In a statement released by Smartsheet, Farrell expressed gratitude for his time at the company and optimism in the renewed leadership team.
For its fiscal third quarter, the company increased its revenue guidance to a range of $ 143.5 million to $ 144.5 million, from a previous range from $ 138 million to $ 139 million.
Smartsheet stock was up 3.67% to $ 70.97 in initial trading Friday on the New York Stock Exchange.