What is the significance of Mark J. Hawkins' appointment to the Board?

Mark J. Hawkins brings extensive experience as a former President and CFO of Salesforce, as well as previous executive roles at Autodesk and other technology companies. His appointment is expected to enhance Workday's board with significant financial acumen and deep knowledge of the software and technology industry, potentially strengthening strategic decision-making and governance.

What is the new role for Robynne Sisco?

Robynne Sisco is stepping down from her position as Co-President. She will assume the role of Vice Chair, with her focus shifting to supporting Workday's global sales team specifically for the office of the CFO. This indicates a continued strategic contribution to the company in a specialized capacity.

Who is Sayan Chakraborty and what is his new role?

Sayan Chakraborty has been appointed as Co-President, serving alongside Doug Robinson. He has been with Workday since 2015, most recently as Executive Vice President of Product and Technology. His promotion reflects his deep understanding of Workday's products and technology, and his extensive leadership experience within the company is expected to be crucial in his new role.

What is the compensation for the new director, Mark J. Hawkins?

In connection with his election to the Board, Mr. Hawkins will receive a one-time grant of restricted stock units (RSUs) valued at $750,000. These RSUs will vest over a period of approximately one year, with one-fourth vesting after one year and the remainder vesting quarterly over the subsequent twelve quarters, contingent on his continued service.

WDAY 8-K: Leadership Changes

Summary

Workday, Inc. (WDAY) filed an 8-K on February 27, 2023, announcing significant changes to its Board of Directors and executive leadership. Notably, Mark J. Hawkins, a seasoned executive with extensive experience at Salesforce and Autodesk, has been appointed as a Class II director. His appointment brings valuable financial and technology industry expertise to Workday's board, and he will receive a $750,000 restricted stock unit grant as part of his compensation. In addition to the board changes, Workday has appointed Sayan Chakraborty as Co-President, effective immediately. This promotion follows Robynne Sisco's decision to step down as Co-President to focus on a dedicated role supporting the global sales team for the office of the CFO. Mr. Chakraborty, who has been with Workday since 2015 and previously held key leadership positions in product and technology, is expected to leverage his deep understanding of the company's offerings to drive future growth. These leadership transitions are designed to strengthen Workday's governance and operational capabilities.

Key Highlights

1Appointment of Mark J. Hawkins, a former Salesforce President & CFO Emeritus, to the Board of Directors.
2Mr. Hawkins' appointment adds significant financial and technology industry expertise, enhancing board oversight.
3Mr. Hawkins to receive a one-time restricted stock unit grant valued at $750,000, with a vesting schedule.
4Sayan Chakraborty appointed as Co-President, effective immediately, alongside Doug Robinson.
5Robynne Sisco transitions from Co-President to Vice Chair, focusing on supporting the global sales team for the office of the CFO.
6Mr. Chakraborty has held various leadership roles within Workday's product and technology divisions since 2015.
7The company has issued a press release (Exhibit 99.1) detailing these leadership changes.

Workday, Inc. 8-K Report, Executive Changes (Feb 27, 2023)

Summary

Key Highlights

Frequently Asked Questions