Workday slips as co-CEO Fernandez steps down, names Eschenbach as new co-CEO
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Workday (NASDAQ:WDAY) shares slipped nearly 2% in extended-hours trading after the company announced Chano Fernandez would step down as co-CEO and a member of its board of directors and be replaced by Carl Eschenbach.

Prior to joining Workday (WDAY), Eschenbach was a partner at venture capital firm Sequoia Capital and held several leadership positions with VMware (VMW), including as president, Chief Operating Officer and more.
Workday (WDAY) also said that Aneel Bhusri would remain the company's co-CEO through January 2024. From there, Bhusri is slated to become the company's executive chairman and remain chairman of its board of directors.
Workday (WDAY) also reaffirmed its fourth-quarter financial guidance and its preliminary outlook for fiscal 2024.
Earlier this month, investment firm William Blair named Workday (WDAY) as one of its top tech picks for 2023.