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On Tuesday, shares of Tableau Software Inc. DATA, a provider of analytics and data visualization software, are gaining big, up almost 12% in mid-morning trading after the company announced it had hired a new chief executive.
Tableau has brought on Adam Selipsky, a former executive if Amazon.com Inc.’s AMZN lucrative Amazon Web Services (AWS), the e-commerce giant’s cloud computing business. He served as the Vice President of sales, marketing, and support at AWS. Mr. Selipsky is replacing Christian Chabot, Tableau’s co-founder, who will take on the role of chairman starting September 16.
“[Mr. Selipsky’s] experience in making AWS the world’s leading cloud platform, his passion for services customers at a global scale, and his authentic player attitude make him an extraordinary fit for Tableau,” Chabot said in a statement.
DATA has dropped over 41% year-to-date, reflecting the ongoing struggle the company has recently faced, in particular trying to come out from under AWS’s large shadow. Amazon’s cloud computing business has completely dominated the industry, even pushing past stalwarts like Cisco Systems CSCO, HP HPQ, and IBM IBM.
With Mr. Selipsky at the helm, Tableau has a distinct advantage over its competitors, and its stock could very well see a much-needed turnaround.
Currently, DATA sits at a #4 (Sell) on the Zacks Rank.
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