Asana picks Dan Rogers, formerly of ServiceNow, to replace CEO Dustin Moskovitz

Asana, the collaboration software company, has announced the appointment of Dan Rogers as its new CEO, taking over from co-founder Dustin Moskovitz. The transition is set to take effect on July 21, as stated by the San Francisco-based firm. Rogers, who previously held leadership roles at Rubrik and ServiceNow, will leave his position as CEO of LaunchDarkly, a startup focused on software for controlled code updates, to join Asana. Moskovitz, who co-founded Facebook's parent company Meta before establishing Asana in 2008, revealed in March that he would be retiring from his CEO role but will remain active as the chair of Asana's board. Under Moskovitz's leadership, Asana has been expanding its offerings, particularly in artificial intelligence. The company’s AI Studio software recently achieved over $1 million in annualized revenue in the April quarter. Moskovitz expressed confidence in Rogers, stating, "This moment represents an unprecedented opportunity for AI to evolve the way people work, and Dan is the leader with the experience, vision, and expertise needed to guide Asana into its next chapter." In contrast to Moskovitz's total compensation of $5 over the last five fiscal years, Rogers is set to receive a base salary of $650,000 along with $35 million in restricted stock units, plus eligibility for a $650,000 annual bonus. Rogers brings a wealth of experience to the role, having held significant marketing positions at ServiceNow, Symantec, and previously at tech giants like Amazon Web Services and Microsoft. Asana became publicly traded in 2020 through a direct listing, initially experiencing a surge in share prices during the pandemic. However, the stock has faced a decline since then, closing at $12.93 on Wednesday, a significant drop from its peak of $142.68 in November 2021. Moskovitz remains a major stakeholder, owning approximately 39% of the company's shares according to FactSet. Following the announcement of the new CEO, the stock price remained stable in after-hours trading.