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The CEO candidate of $3 billion Docusign bailed at the last minute to join Google
(Google SVP of Hardware Rick Osterloh.Thomson Reuters)
It looks like the man who was supposed to become Docusign's CEO in March bailed at the last minute to join Google instead.
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 now serves as SVP of hardware. Osterloh spent over two 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 in October announced his plan to step down. 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 Krach repeatedly said he was enjoying his time at the company. And in another bad sign for Docusign, four top executives left in May.
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.
Osterloh isn't the first Google exec to rescind a big-time offer from a "unicorn" startup. Neal Mohan, Google's SVP of display and video advertising, had accepted an executive job at Dropbox last year only to suddenly change his mind and remain at Google after the company convinced him to stay.
Docusign's representative was not immediately available for comment.
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