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Workday promotes Chano Fernandez as co-CEO, raises 2021 subscription forecast

August 28, 2020 at 02:15 am IST

Workday Inc on Thursday appointed Chano Fernandez as co-chief executive officer and raised its annual subscription forecast, sending the business software provider's shares up nearly 12% in extended trading.

The company, which has become the latest to opt for the co-CEO model after Netflix Inc, promoted co-president Fernandez to serve alongside CEO and co-founder Aneel Bhusri.

Workday said it expects fiscal 2021 subscription revenue between $3.73 billion and $3.74 billion, up from its previous forecast of $3.67 billion to $3.69 billion.

The Pleasanton, California-based company's total revenue jumped 19.6% to $1.06 billion for the second quarter ended July 31, edging past analysts' average estimate of $1.04 billion, according to IBES data from Refinitiv.

(Reporting by Neha Malara in Bengaluru; Editing by Shinjini Ganguli)

Stocks mentioned in the article

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	WORKDAY INC.	245.9 USD	-1.50%	-1.98%	66.22B

Luciano Fernandez

Mr. Chano Fernandez is a Co-President at Workday GmbH and a Co-President, Co-CEO & Director at Workday, Inc. He is on the Board of Directors at Workday, Inc. Mr. Fernandez was previously employed as a Senior Vice President & Head-Innovation Sales by SAP EMEA and a Vice President-EMEA Sales by Infor, Inc. He received his undergraduate degree from the University of Salamanca and an MBA from the Instituto de Empresa SL.

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Workday GmbH Workday GmbH Packaged SoftwareTechnology Services Part of Workday, Inc., Workday GmbH is a leading provider of enterprise cloud applications for finance and human resources. The private company is based in Munich, Germany. Workday is committed to promoting workplace belonging, diversity, and inclusion by making groundbreaking decisions, listening, and investing in their employees to create a positive work environment for all. Workday offers flexible solutions that can be scaled according to your needs to remain at the forefront of innovation. Founded in 2005 by David A. Duffield and Aneel Bhusri, Aneel Bhusri has been the CEO since 2005.	President

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