Why DocuSign Stock Is Moving After Hours

DocuSign Inc DOCU shares are volatile in Thursday's after-hours session after the company announced that it had selected Allan Thygesen as its new Chief Executive.

Thygesen will assume the strategic leadership of the company and a role on DocuSign's board, effective Oct. 10. Interim CEO Mary Agnes Wilderotter will conclude her role but will help Thygesen with a smooth transition. Wilderotter will continue serving as chairman of DocuSign's board.

Thygesen previously served as president of the Americas & Global Partners at Alphabet Inc GOOG.

"During this time of accelerated digital transformation at companies large and small, there is no better person to lead DocuSign than Allan Thygesen," said Wilderotter.

"He is a customer-focused innovator with deep experience in e-commerce, the digitalization of business, and leading high-growth scale organizations."

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DOCU Price Action: DocuSign has a 52-week high of $157.37 and a 52-week low of $53.25.

The stock was up 0.65% in after-hours at $54.35 at the time of publication.

Photo: courtesy of DocuSign.