that the company's Board of Directors has hired Allan Thygesen as its new chief executive officer.
Thygesen will assume the strategic leadership of the company and a role on DocuSign's Board of Directors, effective October 10. DocuSign CEO Dan Springer stepped down in his role in June after the e-signature software maker lost more than 60% of its value this year. Chairman of the Board Maggie Wilderotter served as interim CEO as the company and will now conclude that role and continue serving as Chair of the company's Board of Directors.
"We have a $50 billion global market opportunity that is largely untapped. I look forward to working with our world-class team to capture that opportunity by growing our diversified customer base across industries and geographies," Thygesen said in a statement.