On Tuesday after the close, DocuSign Inc (NASDAQ:DOCU) announced the appointment of Blake Grayson as CFO, replacing outgoing CFO Cynthia Gaylor, who announced her resignation in March.
Gaylor will remain as DocuSign's CFO through the release of the company's Q1 earnings.
"The leadership team and I are thrilled to partner with Blake to continue to build DocuSign," said the company's CEO, Allan Thygesen.
Grayson most recently served as the CFO of The Trade Desk (NASDAQ:TTD), leading the company's overall financial activities. In his previous role, he served in various finance leadership positions at Amazon (NASDAQ:AMZN) for more than a decade.
Reacting to the news, Needham & Company analysts, who have a Hold rating on the stock, said the firm has "no specific view on Mr. Grayson."
However, they stated that the firm views the appointment as "removing uncertainty on the DOCU's near-term management direction."
DocuSign shares are up more than 3% Wednesday, trading above the $52 mark. However, for the year-to-date, it is down over 8%, while it has declined 32% in the last 12 months.