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Asana Appoints Seasoned Finance Executive, Sonalee Parekh, as New Chief Financial Officer

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Asana (NYSE: ASAN) has appointed Sonalee Parekh as its new Chief Financial Officer, effective September 11, 2024. Parekh, with over 25 years of experience in technology and banking, will succeed Tim Wan, who has served since 2017. Parekh's previous roles include CFO at RingCentral and Divisional CFO at Hewlett Packard Enterprise. At Asana, she will oversee the global finance organization and support the company's growth phase, particularly focusing on AI's potential in work management.

During her tenure at RingCentral, Parekh guided the company to double its operating profit while maintaining double-digit revenue growth and exceeding $2 billion in annual recurring revenue. At HPE, she led the transition to an as-a-service business model and managed key acquisitions in high-growth areas.

Asana (NYSE: ASAN) ha nominato Sonalee Parekh come nuovo Chief Financial Officer, con effetto dall'11 settembre 2024. Parekh, con oltre 25 anni di esperienza nel settore tecnologico e bancario, succederà a Tim Wan, in carica dal 2017. Le precedenti posizioni di Parekh includono quella di CFO presso RingCentral e CFO Divisionale presso Hewlett Packard Enterprise. In Asana, superviserà l'organizzazione finanziaria globale e sosterrà la fase di crescita dell'azienda, concentrandosi in particolare sul potenziale dell'IA nella gestione del lavoro.

Durante il suo mandato presso RingCentral, Parekh ha guidato l'azienda a raddoppiare il profitto operativo mantenendo una crescita dei ricavi a due cifre e superando i 2 miliardi di dollari di entrate ricorrenti annuali. Presso HPE, ha guidato la transizione verso un modello di business as-a-service e ha gestito acquisizioni chiave in aree ad alta crescita.

Asana (NYSE: ASAN) ha nombrado a Sonalee Parekh como su nueva Directora Financiera, con efecto a partir del 11 de septiembre de 2024. Parekh, con más de 25 años de experiencia en tecnología y banca, sucederá a Tim Wan, quien ha estado en el cargo desde 2017. Los roles anteriores de Parekh incluyen CFO en RingCentral y CFO Divisional en Hewlett Packard Enterprise. En Asana, supervisará la organización financiera global y apoyará la fase de crecimiento de la empresa, enfocándose particularmente en el potencial de la IA en la gestión del trabajo.

Durante su mandato en RingCentral, Parekh guió a la empresa para duplicar su beneficio operativo mientras mantenía un crecimiento de ingresos de dos dígitos y superaba los 2 mil millones de dólares en ingresos recurrentes anuales. En HPE, lideró la transición hacia un modelo de negocio como servicio y gestionó adquisiciones clave en áreas de alto crecimiento.

아사나 (NYSE: ASAN)가 소나리 파레크를 새로운 최고재무책임자로 임명했습니다. 임기는 2024년 9월 11일부터 시작됩니다. 파레크는 기술과 금융 분야에서 25년 이상의 경험을 가지고 있으며, 2017년부터 재직해온 팀 완을 이어받게 됩니다. 파레크의 이전 경력으로는 링센트럴의 CFO와 휴렛팩커드 엔터프라이즈의 부문 CFO가 있습니다. 아사나에서 그녀는 글로벌 재무 조직을 감독하고 회사의 성장 단계에서 지원하며, 특히 작업 관리에서 AI의 잠재력에 중점을 둘 것입니다.

링센트럴 재임 동안, 파레크는 회사가 운영 이익을 두 배로 늘리면서도 수익 성장률을 두 자릿수 이상 유지하고 연간 반복 수익 20억 달러를 초과하는 데 기여했습니다. HPE에서 그녀는 서비스형 사업 모델로의 전환을 이끌고 고성장 분야에서 주요 인수합병을 관리했습니다.

Asana (NYSE: ASAN) a nommé Sonalee Parekh comme nouvelle Directrice financière, à compter du 11 septembre 2024. Parekh, qui possède plus de 25 ans d'expérience dans la technologie et la finance, succédera à Tim Wan, en poste depuis 2017. Les rôles précédents de Parekh incluent celui de CFO chez RingCentral et CFO divisionnaire chez Hewlett Packard Enterprise. Chez Asana, elle supervisera l'organisation financière mondiale et soutiendra la phase de croissance de l'entreprise, en se concentrant particulièrement sur le potentiel de l'IA dans la gestion du travail.

Au cours de son mandat chez RingCentral, Parekh a guidé l'entreprise pour doubler son bénéfice d'exploitation tout en maintenant une croissance des revenus à deux chiffres et en dépassant les 2 milliards de dollars de revenus récurrents annuels. Chez HPE, elle a dirigé la transition vers un modèle commercial de type service et a géré des acquisitions clés dans des domaines à forte croissance.

Asana (NYSE: ASAN) hat Sonalee Parekh zur neuen Chief Financial Officer ernannt, mit Wirkung zum 11. September 2024. Parekh bringt über 25 Jahre Erfahrung in der Technologie- und Bankenbranche mit und wird Tim Wan nachfolgen, der seit 2017 im Amt ist. Zu Parekhs vorherigen Positionen gehören CFO bei RingCentral und Divisional CFO bei Hewlett Packard Enterprise. Bei Asana wird sie die globale Finanzorganisation leiten und das Wachstum des Unternehmens unterstützen, insbesondere mit Fokus auf das Potenzial von KI im Arbeitsmanagement.

Während ihrer Zeit bei RingCentral führte Parekh das Unternehmen, um den operativen Gewinn zu verdoppeln, während sie ein zweistelliges Umsatzwachstum aufrechterhielt und jährlich über 2 Milliarden Dollar wiederkehrende Einnahmen überstieg. Bei HPE leitete sie die Umstellung auf ein Dienstleistungsmodell und managte wichtige Akquisitionen in wachstumsstarken Bereichen.

Positive
  • Appointment of experienced CFO Sonalee Parekh with 25+ years in technology and banking sectors
  • Parekh's track record of driving growth and profitability at scale in previous roles
  • Focus on leveraging AI in work management to drive productivity and efficiency
Negative
  • Departure of long-serving CFO Tim Wan, potentially impacting continuity

SAN FRANCISCO--(BUSINESS WIRE)-- Asana, Inc. (NYSE: ASAN)(LTSE: ASAN), a leading work management platform, today announced the appointment of Sonalee Parekh as Chief Financial Officer, effective September 11, 2024. Parekh will succeed Tim Wan, who has served in the role since 2017. Wan will remain with the company in an advisory position to support the transition.

Parekh brings more than 25 years of experience in the technology and banking sectors to Asana, having previously held executive finance roles at leading public companies including Chief Financial Officer (CFO) at RingCentral and Divisional CFO, Head of Corporate Development and Investor Relations at Hewlett Packard Enterprise (HPE). At Asana, Parekh will oversee the global finance organization and play a strategic role in supporting the company's next phase of growth and innovation.

Dustin Moskovitz, Asana’s co-founder and CEO, welcomed Parekh to the leadership team: “Sonalee’s public company experience and market perspective, coupled with her proven track record of driving growth and profitability at scale, makes her the ideal person to partner with me and the leadership team as we execute on the large opportunity ahead of us. She’s had a front-row seat to some of the most transformative technology trends and we’re in the midst of another pivotal moment. AI has the enormous potential to reshape not only the work management category, but the entire software industry. Sonalee’s experience overseeing and fostering efficient growth during critical inflection points will be invaluable to Asana.”

As CFO at RingCentral, Parekh guided the company through a period of rapid growth, overseeing a doubling of operating profit while maintaining double-digit revenue growth and exceeding $2 billion in annual recurring revenue (ARR). She was also instrumental in the company’s successful expansion into a multi-product portfolio.

At HPE, Parekh played a critical role in the company's transition to an as-a-service business model and led key acquisitions in high growth areas. Parekh has also previously held senior leadership roles at several global investment banks, including Goldman Sachs, Jeffries and Barclays Capital.

"Asana is uniquely positioned to capitalize on the opportunity to leverage AI in the work management category to drive productivity and efficiency benefits for workers across the globe," said Parekh. "I’m excited to partner with Dustin and Asana’s seasoned management team in driving Asana's next phase of growth."

Parekh will be supported by exiting Asana CFO, Tim Wan, for a transition period. Moskovitz continued: “We’ve been incredibly lucky to have the skills and experience of Tim with us for so long. Under his leadership, the company has grown to more than $689 million in revenue. He’s embodied all of our Asana values and been integral to the company’s expansion from fewer than 300 employees to nearly 2000. He’ll be sincerely missed and we thank him for his many contributions.”

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 market opportunity, the potential and impact of AI, our ability to execute on our current strategies, 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. These risks include, but are not limited to, risks and uncertainties related to: Asana’s ability to achieve future growth and sustain its growth rate, Asana’s ability to attract and retain customers and increase sales to its customers, Asana’s ability to develop and release new products and services and to scale its platform, including the successful integration of AI, Asana’s ability to increase adoption of its platform through Asana’s self-service model, Asana’s ability to maintain and grow its relationships with strategic partners, the highly competitive and rapidly evolving market in which Asana participates, Asana’s international expansion strategies, and broader macroeconomic conditions. Further information on risks 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, the #1 AI work management platform, is where work connects to goals. Over 150,000 customers like Amazon, Accenture, 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 asana.com.

Disclosure of Material Information

Asana announces material information to its investors using SEC filings, press releases, public conference calls, and on its investor relations page of Asana’s website at https://investors.asana.com. Asana uses these channels, as well as social media, including its X (formerly Twitter) account (@asana), its blog (blog.asana.com), its LinkedIn page (www.linkedin.com/company/asana), its Instagram account (@asana), its Facebook page (www.facebook.com/asana/), Threads profiles (@asana and @moskov), and TikTok account (@asana), to communicate with investors and the public about Asana, its products and services and other matters. Therefore, Asana encourages investors, the media and others interested in Asana to review the information it makes public in these locations, as such information could be deemed to be material information.

Catherine Buan

Asana Investor Relations

ir@asana.com

Frances Ward

Asana Corporate Communications

press@asana.com

Source: Asana, Inc.

FAQ

Who is Asana's new Chief Financial Officer?

Asana has appointed Sonalee Parekh as its new Chief Financial Officer, effective September 11, 2024.

What is Sonalee Parekh's background before joining Asana (ASAN)?

Sonalee Parekh has over 25 years of experience in technology and banking, previously serving as CFO at RingCentral and Divisional CFO at Hewlett Packard Enterprise.

How did Sonalee Parekh perform in her previous role at RingCentral?

At RingCentral, Parekh guided the company to double its operating profit while maintaining double-digit revenue growth and exceeding $2 billion in annual recurring revenue.

What is Asana's (ASAN) focus for future growth according to the new CFO appointment?

Asana is focusing on leveraging AI in the work management category to drive productivity and efficiency benefits for workers globally.

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