Asana Announces CEO Succession Plan

Rhea-AI Summary

Asana (NYSE: ASAN) announced that co-founder and CEO Dustin Moskovitz will transition to the role of Chair upon the appointment of a successor. The Board has initiated a search for a new CEO with the help of a leading executive search firm.

Moskovitz, who co-founded Asana in 2008 and has served as CEO since 2010, will maintain his significant shareholdings and focus on product vision, strategic guidance, and AI strategy in his new role as Chair. Under his leadership, Asana has grown to serve over 150,000 customers, including 85% of Fortune 500 companies, generating over $700 million in annual revenue.

The transition comes as Asana positions itself for its next phase of growth and profitability, particularly following the recent launch of AI Studio. Moskovitz plans to dedicate more energy to addressing global challenges through Good Ventures and Open Philanthropy while continuing to provide strategic oversight as Chair and majority shareholder.

Positive

• CEO transition maintains continuity with Moskovitz staying as Chair and majority shareholder
• Strong market position with 85% Fortune 500 companies as customers
• Significant revenue scale at $700M+ annually
• Recent launch of AI Studio positions company for growth

Negative

• Potential leadership uncertainty during CEO transition period
• Loss of founding CEO from day-to-day operations could impact company direction
• Search for new CEO may take time and resources

Insights

Corporate Governance Specialist

Asana's announcement of CEO Dustin Moskovitz's planned transition represents a significant leadership change for the company. As co-founder and CEO since 2010, Moskovitz has been instrumental in building Asana into a platform used by over 85% of Fortune 500 companies with $700+ million in annual revenue.

The structured nature of this succession plan provides several important signals to investors. First, Moskovitz will remain as Chair and continue to focus on AI strategy and product vision—his core strengths. Second, his intention to maintain his significant shareholdings indicates continued confidence in Asana's future trajectory. Third, the board has proactively engaged a search firm to find a successor suited to lead Asana's "next phase of growth and profitability."

The timing and framing suggest this is a deliberate evolution rather than a reaction to immediate challenges. Moskovitz's stated desire to focus more on his philanthropic ventures through Good Ventures and Open Philanthropy while stepping back from operational demands points to personal motivations rather than company-specific concerns.

For investors, CEO transitions always introduce uncertainty, particularly when involving a founder. However, this appears to be a thoughtfully managed succession with Moskovitz continuing substantial involvement, potentially bringing in complementary leadership skills while preserving the founder's vision and technical expertise in important areas like AI development—evidenced by the mentioned AI Studio launch.

Financial Analyst

This CEO succession announcement comes during a critical juncture for Asana as it navigates the path to profitability while investing in AI innovation. Moskovitz's transition to Chair while a new CEO takes operational control represents a governance structure evolution typical for founder-led companies reaching maturity.

The most significant positive signal is Moskovitz's intention to retain his substantial shareholdings—indicating confidence in Asana's growth prospects despite stepping back from day-to-day operations. Currently serving 169,000 customers including major enterprises like Amazon and Accenture, Asana has demonstrated product-market fit but faces the challenge of converting this into consistent profitability.

The board's emphasis on finding a leader to accelerate "growth and profitability" suggests a potential strategic shift toward financial discipline alongside continued innovation. This dual focus could address investor concerns about balancing growth investments with improved financial metrics.

Notably, the transition happens as Asana pushes more aggressively into AI with its AI Studio product—a sector where having the right leadership is particularly important given rapid technological changes and competitive dynamics. Moskovitz's continued involvement in AI strategy leverages his technical strengths while potentially bringing in a CEO with complementary operational expertise to optimize execution and financial performance.

While leadership transitions always carry execution risks, this planned succession with continued founder involvement creates a balanced risk profile that neither significantly enhances nor damages Asana's investment outlook in the immediate term.

Moskovitz Has Informed Board of His Intention to Retire as CEO Upon the Appointment of a Successor

As Chair, Moskovitz Will Continue Focusing on AI Strategy and Intends to Maintain His Significant Shareholdings in Asana

Board-led Search for CEO Successor Underway to Lead Asana’s Next Chapter of Growth and Profitability

SAN FRANCISCO--(BUSINESS WIRE)-- Asana, Inc. (NYSE: ASAN) (LTSE: ASAN), a leading enterprise work management platform, today announced that Dustin Moskovitz, Co-Founder, CEO and Chair of Asana, has informed the Board of Directors of his intention to transition to the role of Chair when a new CEO begins. The Asana Board has retained a leading executive search firm to execute a search for the company’s next CEO. Moskovitz will remain CEO until a successor begins and intends to maintain his shareholdings in Asana, reflective of his view that the company is positioned for long-term growth.

“As I reflect on my journey since co-founding Asana nearly 17 years ago, I'm filled with immense gratitude. Creating and leading Asana has been more than just building a company—it's been a profound privilege to work alongside some of the most talented minds in the industry to build a platform that is trusted by over 85% of Fortune 500 companies today,” said Moskovitz. “Asana has grown into a multi-product company at the forefront of AI innovation that is transforming how work gets done. I know that Asana is positioned for long-term success and am confident that an experienced leader well-matched to the company’s stage and potential will build on Asana’s strong track record of innovation, including the recent launch of AI Studio, which I believe will usher in a new era of growth and profitability.”

“The Board is engaged in a thorough process to identify the right successor to lead Asana’s next phase of growth,” Moskovitz added. “I will provide my full assistance to the Board and my successor when the time comes. In my role as Chair, I'll focus on what I do best—contributing to product vision, strategic guidance, and helping navigate the AI landscape that's reshaping our industry. I'm looking forward to this more focused contribution while stepping away from the day-to-day operational demands that a CEO must prioritize. I also feel called to dedicate more of my energy to addressing global challenges through Good Ventures and Open Philanthropy. I have great pride in what we are creating together and am confident with these planned changes announced today, Asana’s best days are ahead.”

“On behalf of the entire Board, I want to thank Dustin for his visionary leadership and stewardship of Asana since he founded the company in 2008 with an enduring long-term vision. Under Dustin’s leadership, Asana’s AI-powered work management solutions have achieved tremendous growth and scale. He has always led the company with clarity and purpose, developing an award-winning culture and serving as a mentor to many,” said Lorrie Norrington, Asana’s Lead Independent Director. “Consistent with our succession plans, the Board is working with a leading firm on a comprehensive search to identify a long-term leader with the skills and expertise to accelerate Asana’s growth and path to profitability. As Chair and majority shareholder moving forward, Dustin’s evolved role and oversight will be instrumental in ushering in an exciting new chapter for Asana centered around innovation in AI.”

Moskovitz co-founded Asana alongside Justin Rosenstein and has served as CEO since October 2010. Under his leadership, the company’s leading enterprise work management solution has empowered over 150,000 customers, millions of users in nearly 200 countries, and has generated over $700 million in revenue annually. Asana’s team has grown significantly across 13 offices globally with an award-winning culture that has been consistently named among Inc. Magazine’s “Best Workplaces.” Prior to founding Asana, Moskovitz co-founded Facebook (now Meta) in February 2004 and served as the Company’s first Chief Technology Officer and VP of Engineering until November 2008. Moskovitz is a co-founder of Good Ventures, a philanthropic foundation whose mission is to help humanity thrive. He is also a co-founder and chairman of Open Philanthropy, a philanthropic funder originally incubated as a partnership between GiveWell and Good Ventures. Moskovitz studied economics at Harvard University prior to joining Facebook full-time in February 2004.

In a separate press release issued today, Asana announced its financial results for the fourth quarter and fiscal year 2025. Asana will hold a conference call and live webcast today to discuss these results at 1:30 p.m. Pacific Time. A live webcast and replay will be available on the Asana Investor Relations webpage at: https://investors.asana.com.

Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include, but are not limited to, statements about our forward growth and profitability, our market opportunity, the potential and impact of AI, our ability to execute on our current strategies, and our technology and brand position. Forward-looking statements generally relate to future events or Asana’s future financial or operating performance. Forward-looking statements include all statements that are not historical facts and in some cases can be identified by terms such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “continue,” “could,” “potential,” “may,” “will,” “goal,” or similar expressions and the negatives of those terms. However, not all forward-looking statements contain these identifying words. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including factors beyond Asana’s control, that may cause Asana’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Further information on risks, including but not limited to, risks and uncertainties related to: the loss one or more of Asana’s key personnel, in particular Asana’s co-founder, President, Chief Executive Officer, and Chair, Dustin Moskovitz, that could cause actual results to differ materially from forecasted results are included in Asana’s filings with the SEC, including Asana’s Annual Report on Form 10-K for the year ended January 31, 2024 and subsequent filings with the SEC. Any forward-looking statements contained in this press release are based on assumptions that Asana believes to be reasonable as of this date. Except as required by law, Asana assumes no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

About Asana

Asana, a leading enterprise work management platform, is where work connects to goals. Over 169,000 customers like Amazon, Accenture, Morningstar, Anthropic, and Suzuki rely on Asana to manage and automate everything from goal setting and tracking to capacity planning to product launches. To learn more, visit www.asana.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250310432035/en/

Eva Leung

Asana Investor Relations


ir@asana.com



Frances Ward


Asana Communications

press@asana.com

Source: Asana, Inc.

FAQ

Why is Dustin Moskovitz stepping down as CEO of Asana (ASAN)?

Moskovitz is transitioning to focus on product vision, AI strategy, and philanthropy while maintaining his role as Chair. He will continue as CEO until a successor is appointed.

What will be Moskovitz's role at Asana (ASAN) after the CEO transition?

He will serve as Chair, focusing on product vision, strategic guidance, and AI strategy, while maintaining his position as majority shareholder.

How has Asana (ASAN) performed under Moskovitz's leadership since 2008?

Under Moskovitz, Asana grew to serve 150,000+ customers, including 85% of Fortune 500 companies, generating over $700M in annual revenue.

What is Asana's (ASAN) current market position in 2025?

Asana serves over 150,000 customers in nearly 200 countries, with a strong presence in AI-powered work management solutions and recent launch of AI Studio.