Salesforce.com president, two sales execs resign

10.02.2009
Salesforce.com president and chief strategy officer Steve Cakebread resigned last week after seven years with the company, according to an . Cakebread is the most senior member of the online software maker's management team to leave recently. Gary Hanna and Dave Orrico, both sales executives, have also left the company.

Reporters have been unable reach any of the three, but the Wall Street Journal reports that "Cakebread had attempted to retire before." The SEC filing says, "The resignation is for personal reasons and does not involve any controversy or disagreement with the Company."

While the trio of resignations appears serious, reporters and analysts in the on the shakeup have been unable to pinpoint specific problems at Salesforce.com that would lead to mass departures. The company hasn't announced its fourth quarter results yet, but Salesforce ended its third quarter with of US$276 Million, up 43% from 2007, and its to date, call center software company InStranet.

Analysts have been slightly wary of the company's stock this quarter. A in January gave Salesforce.com an average score of just under 4 on a 5 scale, placing it in the middle of a Software & Services field led by Google, Oracle, McAfee and Microsoft. Yet the executive staff shakeup hasn't damaged Salesforce's stock price much. Shares in the company on today's news, from $31 to $28, but are still trading higher than the January low of $26.07.