Dustin Moskovitz, CEO of Asana and co-founder of Facebook.
Patricia de Melo Molira | AFP | Getty Images
Dustin Moskovitz, CEO Asana And one of the original founders of FacebookHe retired from the software company he started in 2008.
Asana announced the upcoming departure for Moskovitz on Monday as part of the company's fourth quarter revenue report, with its board retaining the executive search company to help select a new CEO. Moskowitz has notified the board of directors “intent to move into the role of chairman when a new CEO begins,” the company said Monday.
“Since co-founding Asana almost 17 years ago, I have been very grateful when I look back on my journey,” Moskowitz said in a statement. “The creation of asanas and the main ones are more than just building a company. It was a great privilege to work with some of the most talented minds in the industry.”
Asana said fourth quarter sales increased 10% year-on-year to $188.3 million, which was in line with analyst estimates. The company said adjusted earnings per share were breakeven prior to analysts' estimates of a cent per share.
Asana said it expects first quarter revenues to be between $184.5 million and $186.5 million, with analysts expecting a $191 million forecast.
Asana's share price fell more than 25% outside business hours after trading on Monday.
Moskovitz owns approximately 53% of the company's outstanding shares between Class A and Class B Holdings. He has significantly increased his ownership since the company's open market debut in 2020.
After falling across the technology sector in 2023, Moskowitz told CNBC “We've been wild for two years in the market and have some interesting buying opportunities.”
According to Forbes, due to his early Facebook shares, he has a total net worth of over $16 billion.
In a resignation statement on Monday, Moskowitz said it plans to focus more on philanthropy, including excellent ventures and open philanthropy. In 2010, Moskowitz signed the pledge he gave. This is a promise that some of the world's wealthiest people will donate most of their fates to charity.
Co-founded by Moskovitz and his wife, Cari Tuna, Good Ventures donated $30 million to ChatGpt Maker Openai over three years in 2017.
