Dustin Moskovitz, co-founder of Facebook and CEO of Asana, will retire from the company he founded in 2008, transitioning to the role of Chair once a new CEO is appointed. Asana’s board has enlisted an executive search firm to find his replacement. Moskovitz expressed gratitude for his 17-year journey leading the company, calling it a privilege to work alongside talented professionals.
The announcement came alongside Asana’s fiscal Q4 earnings report, which showed a 10% year-over-year revenue increase to $188.3 million, matching analyst expectations. However, its fiscal Q1 revenue forecast of $184.5 million to $186.5 million fell short of estimates, leading to a 25% drop in Asana’s stock price after hours. Moskovitz, who owns 53% of the company’s shares, has significantly increased his stake since Asana’s 2020 IPO.
With a net worth exceeding $16 billion, largely from his early Facebook holdings, Moskovitz plans to dedicate more time to philanthropy. He co-founded Good Ventures and Open Philanthropy with his wife, Cari Tuna, focusing on global issues, including AI risks. In 2010, he signed the Giving Pledge, committing to donate most of his fortune to charitable causes.
