The CEO candidate of $3 billion Docusign bailed at the last minute to join Google
According to Bloomberg, former Motorola executive Rick Osterloh pulled out of taking Docusign's CEO position in March so he could go back to Google, where he serves as SVP of Hardware now. Osterloh spent over 2 years at Motorola, which was owned by Google until 2014.
In March, Docusign had set up press calls to announce the hiring of a new CEO to replace the current CEO Keith Krach, who internally announced his plan to step down last October. At the time, Docusign's press officer said the new CEO candidate pulled out after "another company with unlimited resources approached him with an offer."
Krach's resignation came at an odd moment. The company had just raised a $233 million round and he repeatedly said he was enjoying his time at the company in public. And in another bad sign for the company, four top executives left Docusign in May, after it missed out on hiring a new CEO.
Docusign, last valued at $3 billion, has been one of the fastest growing tech companies in recent years. The digital signature software company has raised over $500 million so far.
Bloomberg reports that the company's now looking at Enrique Salem, managing director at Bain Capital, as one of the leading CEO candidates. Salem previously led Docusign's $233 million Series F funding and now sits on the company's board.
Docusign's representative was not immediately available for comment.