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Workday Taps Co-Founder Bhusri as CEO Amid Stock Plunge

2/9/2026

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Summary

Story summary

Workday names Aneel Bhusri, co-founder of Workday, as chief executive officer, replacing Carl Eschenbach who resigns immediately.
Workday's stock fell over 8% after the announcement, near a 52-week low and down about 40% in the past year.
Analysts from Oppenheimer and Needham maintain price targets of $270 and $300, despite growth concerns and a 2% workforce reduction.
Workday aims to enhance its AI capabilities as it begins fiscal year 2027.

History

Historical Context

The dot-com bubble burst in 2000 led to significant stock market declines, impacting tech companies like Workday, co-founded by Aneel Bhusri. Following leadership changes, Workday's stock dropped over 8%, reflecting ongoing industry volatility. As the company enhances its AI capabilities, it aligns with a broader trend in technology where innovation is crucial for competitive advantage and market stability.

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Story summary

Workday names Aneel Bhusri, co-founder of Workday, as chief executive officer, replacing Carl Eschenbach who resigns immediately.
Workday's stock fell over 8% after the announcement, near a 52-week low and down about 40% in the past year.
Analysts from Oppenheimer and Needham maintain price targets of $270 and $300, despite growth concerns and a 2% workforce reduction.
Workday aims to enhance its AI capabilities as it begins fiscal year 2027.

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