DigitalOcean CFO Departs; Interim CFO Appointed

Ticker: DOCN · Form: 8-K · Filed: 2024-05-02T00:00:00.000Z

Sentiment: neutral

Topics: executive-change, cfo, management

Related Tickers: DOCN

TL;DR

DO's CFO is out, interim CFO steps in. Watch for financial strategy changes.

AI Summary

DigitalOcean Holdings, Inc. announced on April 30, 2024, the departure of Chief Financial Officer, Michael J. McLoughlin. The company has appointed Alon Gonen as interim CFO, effective immediately. Gonen previously served as the company's Senior Vice President of Finance.

Why It Matters

A change in a key financial executive like the CFO can signal shifts in financial strategy or internal confidence, potentially impacting investor perception and the company's stock performance.

Risk Assessment

Risk Level: medium — A sudden departure of a CFO can indicate underlying issues or strategic disagreements, warranting closer scrutiny of the company's financial health and future direction.

Key Players & Entities

FAQ

Who has been appointed as the interim Chief Financial Officer of DigitalOcean Holdings, Inc.?

Alon Gonen has been appointed as the interim Chief Financial Officer.

What was Michael J. McLoughlin's role at DigitalOcean Holdings, Inc.?

Michael J. McLoughlin was the Chief Financial Officer of DigitalOcean Holdings, Inc.

When was the change in the Chief Financial Officer effective?

The change was effective April 30, 2024.

What was Alon Gonen's previous role at DigitalOcean Holdings, Inc.?

Alon Gonen previously served as the Senior Vice President of Finance.

What is the filing date of this 8-K report?

The filing date of this 8-K report is May 2, 2024.

From the Filing

0001582961-24-000058.txt : 20240502 0001582961-24-000058.hdr.sgml : 20240502 20240502080519 ACCESSION NUMBER: 0001582961-24-000058 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240430 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240502 DATE AS OF CHANGE: 20240502 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DigitalOcean Holdings, Inc. CENTRAL INDEX KEY: 0001582961 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] ORGANIZATION NAME: 06 Technology IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-40252 FILM NUMBER: 24905416 BUSINESS ADDRESS: STREET 1: 101 AVENUE OF THE AMERICAS STREET 2: 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10013 BUSINESS PHONE: 341-985-0306 MAIL ADDRESS: STREET 1: 101 AVENUE OF THE AMERICAS STREET 2: 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10013 FORMER COMPANY: FORMER CONFORMED NAME: Digital Ocean, Inc. DATE OF NAME CHANGE: 20130731 8-K 1 docn-20240430.htm 8-K docn-20240430 0001582961 false 0001582961 2024-04-30 2024-04-30 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (date of earliest event reported): April 30, 2024 DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 001-40252 45-5207470 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.) 101 6th Avenue New York New York 10013 (Address of Principal Executive Offices) (Zip Code) (646) 827-4366 Registrant's telephone number, including area code Not Applicable (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.000025 per share DOCN The New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 30, 2024, Muhammad Aaqib Gadit notified DigitalOcean Holdings, Inc. (the “ Company ”) of his desire to step down from his current role as Chief Revenue Officer upon the commencement of employment of a successor. At such time, Mr. Gadit shall become an advisor to the Company to transition his responsibilities for a period of time to be mutually agreed upon by the Company and Mr. Gadit. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the regist

View on Read The Filing