Moskovitz, who is one of the original founders of Facebook, has run Asana since creating the company in 2008.
His retirement was announced along with Asana’s fourth-quarter 2024 earnings report. Asana’s software helps teams organize, track, and manage their work.
The board of directors said it has retained an executive search firm to help choose a new CEO. Moskovitz plans to transition to the role of board chair once a new CEO for Asana is selected.
In addition to news of the CEO retiring, Asana announced that its fourth-quarter sales rose 10% year-over-year to $188.3 million U.S., which was in-line with analyst estimates.
The company said its earnings per share (EPS) was breakeven, which was slightly ahead of analyst estimates that called for a loss of -$0.01 U.S.
Looking ahead, Asana forecast first-quarter revenue of $184.5 million U.S. to $186.5 million U.S., below analyst expectations of $191 million U.S.
Moskovitz owns about 53% of Asana’s stock. He has increased his ownership since the company went public in 2020.
Forbes magazine estimates Moskovitz’s net worth at more than $16 billion U.S., mostly from his Facebook stake.
Before today (March 11), Asana stock had fallen 16% this year and was trading at $16.68 U.S. per share.
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