Salesforce.com Inc said on Tuesday Keith Block has stepped down as co-chief executive officer, making Marc Benioff the sole CEO of the business software company, sending its shares down nearly 3per cent in extended trading.
Block was widely seen as a potential successor to Benioff, who founded the company in 1999, and will continue as the chairman.The company has spent more than US$16 billion last year for acquisitions, adding muscle to its cloud products as it fends off competition from bigger rivals like Oracle Corp and German competitor SAP .
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