Summary
This 8-K filing by Workday, Inc. (WDAY) announces significant changes to its executive leadership team. Robynne Sisco will be stepping down as Chief Financial Officer (CFO) effective February 1, 2022, but will remain as Co-President alongside Doug Robinson. Barbara Larson has been appointed as the new CFO, also effective February 1, 2022, taking over principal financial officer responsibilities. Doug Robinson's appointment as Co-President is effective November 18, 2021. These leadership transitions are accompanied by updated compensation arrangements for the incoming executives. Both Doug Robinson and Barbara Larson will receive restricted stock units (RSUs) valued at $2.0 million each, with specific vesting schedules. Ms. Larson's annual target bonus percentage will increase to 50% of her base salary upon assuming the CFO role, while her base salary is expected to remain $400,000. These changes are designed to align with their new responsibilities and retain key talent within the organization.
Key Highlights
- 1Robynne Sisco transitions from CFO to Co-President, effective February 1, 2022, while remaining Co-President alongside Doug Robinson.
- 2Barbara Larson appointed as the new Chief Financial Officer (CFO) and principal financial officer, effective February 1, 2022.
- 3Doug Robinson appointed as Co-President, effective November 18, 2021.
- 4Both Doug Robinson (Co-President) and Barbara Larson (CFO) will receive $2.0 million in restricted stock units (RSUs) with multi-year vesting schedules.
- 5Barbara Larson's annual target bonus will increase to 50% of her base salary upon becoming CFO.
- 6Doug Robinson has a strong internal sales background with extensive experience at Workday since 2010.
- 7Barbara Larson has significant internal finance and accounting experience at Workday since 2014, with prior roles at VMware.