Workday co-founder Aneel Bhusri has returned as chief executive officer, effective immediately. He succeeds Carl Eschenbach, who is stepping down from the CEO position and the board of directors. Eschenbach will remain with the enterprise software company as a strategic advisor. This leadership transition coincides with the start of Workday's fiscal year 2027.
The company is shifting its focus toward the rapidly evolving AI era. Bhusri stated that artificial intelligence represents a more significant transformation than the shift to software-as-a-service (SaaS). He believes AI will define the next generation of market leaders.
Workday shares fell more than 5% in premarket trading following the announcement. Despite the leadership change, the company reaffirmed its financial outlook for the fourth quarter. It also maintained its guidance for the full fiscal year 2026.