SaaS firm Freshworks' CPO Prakash Ramamurthy resigns; Here's why

Nasdaq-listed Software as a Service (SaaS) firm Freshworks recently announced the resignation of its Chief Product Officer (CPO), Prakash Srinivasagopalan Ramamurthy.

Ramamurthy has decided to step down after nearly five years with the company to pursue another professional opportunity.

Working with CEO to ensure a smooth transition

According to a recent SEC filing, He is working closely with the newly appointed CEO, Dennis Woodside, to ensure a smooth transition period, and he will continue in his current role until October 1, 2024.

After stepping down from his position, Ramamurthy will remain available to provide advisory assistance to Freshworks until the end of the year.

Woodside, who took over as CEO earlier this year after Girish Mathrubootham transitioned to the role of Executive Chairman, will rely on Ramamurthy’s expertise to maintain stability within the company during this period.

Management changes and new appointments

Ramamurthy’s departure is part of a series of significant management changes at Freshworks over the past year.

In February 2024, Pradeep Rathinam, the Chief Revenue Officer, also resigned. Earlier, Shan Krishnaswamy, the company’s Chief Technology Officer (CTO), left the company in September 2022, and the position has remained vacant since.

In response to these changes, Freshworks has made several key appointments. Tyler Sloat, the company's Chief Financial Officer (CFO), was recently given the additional role of Chief Operating Officer (COO).

Philippa Lawrence has been appointed as the new Chief Accounting Officer.

Freshworks' financial performance

For the second quarter ending June 30, 2024, Freshworks reported a 20% increase in revenue, reaching $174.1 million, up from $145 million in the same period the previous year.

The company’s total income from operations also increased, rising to $13.1 million compared to $11.8 million in Q2 2023.