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Workday Promotes Executives to Co-President, CFO Roles

By Kimberly Chin

 

Workday Inc. has promoted internal executives Doug Robinson and Barbara Larson to co-president and chief financial officer, respectively.

Mr. Robinson, who has been with the company since 2010 in various sales leadership positions, served as the executive vice president of global sales since February. He will assume the co-president role effective immediately and report to Workday Co-CEO Chano Fernandez.

Ms. Larson most recently served as the company's senior vice president of accounting, tax and treasury. She joined Workday in 2014 and has worked in several senior finance roles. She will assume the CFO spot on Feb. 1 of next year and will continue to report to Workday Co-President Robynne Sisco.

Separately, Workday on Thursday said it has agreed to acquire external workforce and vendor management company VNDLY for about $510 million in a mostly cash deal. Founded in 2017, VNDLY will help companies manage and track the benefits, compensation and costs associated with different types of workers in their workforce, from those who are salaried or hourly to contingent or outsourced employees.

"As organizations expand the definition of their workforce to meet growing business and talent demands, they need solutions that provide a holistic view of all worker types -- including contingent workers -- so they can better plan for and meet the great opportunity in front of them," Workday Chief Strategy Officer Pete Schlampp said.

Workday, which provides cloud applications for the finance and human resources functions at companies, will continue to invest in VNDLY's managed services provider network while VNDLY will continue to support and integrate with other third-party HR, finance, information technology and legal systems, Workday said.

The enterprise software provider expects the transaction to close in the fourth quarter.

Workday's shares fell 8.6% after hours to $273.37.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

November 18, 2021 17:41 ET (22:41 GMT)

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