DigitalOcean Holdings, the cloud for startups and SMBs, announced its Chief Executive Officer Yancey Spruill will step down.
DigitalOcean has convened a Search Committee to identify DigitalOcean’s next CEO, and the search process is already underway. The Board has also retained Spencer Stuart, a leading executive search firm, to assist in the process.
The company also announced that Warren Adelman, who has served on the Board since 2020 and as lead independent director since 2022, has been appointed Executive Chairman of the Board, effective immediately.
DigitalOcean has reaffirmed its financial outlook for the third quarter and full year 2023, as provided on August 11, 2023.