Shulou(Shulou.com)11/24 Report--

Sina Technology News Beijing time on October 11 morning news, it is reported that cloud software provider Five9 CEO Rowan Trollope (Rowan Trollope) announced his resignation, the company's shares closed down 25% on Monday, falling to the lowest level since March 2020.

Trollope said on Twitter that he would go to a venture capital-backed IPO former start-up as chief executive. He was replaced by Mike Burkland, the former chief executive of Five9. Burkland resigned as CEO in 2017 after being diagnosed with cancer. He will succeed Trollope as chief executive on November 28.

"it is an honor and honor to serve our employees, customers and shareholders," Trollope wrote on Twitter. "

Five9 provides call center software designed to provide more efficient services to customers from anywhere over the phone.

In mid-2021, Zoom agreed to acquire Five9 in an all-stock deal of $14.7 billion. The shares of the two companies soared during the COVID-19 pandemic as people across the country worked remotely from home.

However, Five9 shareholders were not satisfied with the price Zoom planned to pay, and they eventually rejected the deal. Since then, investor interest in cloud computing stocks has fallen sharply as rising interest rates and inflation fears, coupled with the reopening of many offices, have changed the short-term trajectory of the industry.

Since the share price peaked in August 2021, Five9 has lost more than 70 per cent of its market value. Zoom's share price is also more than 85 per cent below the record set at the end of 2020.

Before joining Five9 in 2018, Trollope was an executive at Cisco. He said Five9 still had a "competitive advantage" and that he remained optimistic about the company's ability to "cope with the future".

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