Salesforce executive exits help push stock to its lowest point since March 2020 - CNBC

On Monday, the company announced the departure of Slack CEO Stewart Butterfield, who joined Salesforce last year as part of its biggest acquisition ever.

Last Wednesday, Salesforce co-CEO Bret Taylor, who orchestrated the Slack deal, said he was leaving —exactly a year after getting promoted to share the top job with Marc Benioff.

Along with Butterfield, Slack is losing product chief Tamar Yehoshua and Jonathan Prince, senior vice president in charge of marketing, brand and communications, people familiar with the matter previously told CNBC.

Noah Weiss, senior vice president of product at Slack, will succeed Yehoshua, Butterfield said in a Slack message.

Butterfield is being succeeded by Lidiane Jones, an executive vice president at Salesforce who joined in 2019.

"The second elephant in the room is why Bret Taylor decided to give up his high-profile co-CEO and vice chair position after only a year," wrote the Guggenheim analysts, who have the equivalent of a hold rating on the stock.

The analysts reminded clients that three years ago, Keith Block resigned as co-CEO after 18 months on the job and wrote that "the company seems to have struggled since.".

WATCH: Salesforce shares under pressure after co-CEO Bret Taylor steps down