It’s a rare occurrence to witness an established company cycle through three CEOs within a single year. However, due to circumstances beyond its control, this is precisely what has transpired at Slack, the company acquired by Salesforce for $28 billion in 2020. In November, Denise Dresser was introduced as the newest occupant of the executive office.
Dresser acknowledges the challenges of assuming this role under such circumstances but expresses a sense of acclimation. “Stepping into any new company is always a challenge, but I’ve received plenty of guidance from the team, and together we’ve aligned on our vision,” Dresser shared with TechCrunch.
Having grown up in the suburbs of Boston, educated at the University of Massachusetts in Amherst with a focus on accounting, and serving in various executive capacities at Salesforce for the past 12 years, Dresser brings a wealth of experience to her new position.
Her predecessor, Lidiane Jones, departed after just 10 months to become CEO at Bumble, attracted by the prospect of leading a standalone public company. Jones had taken over from company co-founder Stewart Butterfield, who announced his departure at the end of 2022.
Replacing a founder-CEO, as Jones did, is no small feat. Doing so just 10 months later, as her successor, presents its own set of challenges. However, Arjun Bhatia, an analyst at William Blair who tracks Salesforce, notes that some executive turnover is typical following an acquisition. “While stability in leadership is important, the CEO turnover we’ve observed isn’t alarming at this point,” Bhatia remarked to TechCrunch.
Dresser aims to build upon the foundation laid by her predecessors while infusing her unique approach to the role. “I’m naturally inclined to ask questions and maintain organization, given my accounting background. However, the groundwork is already laid, and the organization is incredibly well-managed,” she commented.
Slack’s Performance Within Salesforce
When Salesforce acquired Slack, the belief was that it could serve as the communication layer atop Salesforce’s suite of business software. While this remains the goal, Slack’s revenue growth has notably slowed since the acquisition.
While exact revenue figures are no longer reported by Salesforce, growth percentages from the prior year are shared. Slack’s growth has decelerated significantly, dropping from 46% year-over-year in Q3 2023 to just 16% in Q4 2024. This downward trend underscores the challenge facing Dresser as she strives to reverse this trajectory.
One significant change under Dresser’s purview is the integration of generative AI across Slack and the broader Salesforce product lineup. Dresser views AI as a natural fit for Slack, given its vast repository of unstructured data from user conversations. Leveraging AI can enhance users’ ability to navigate and glean insights from this data.
Despite these challenges, Dresser remains optimistic about Slack’s future within the Salesforce ecosystem. She emphasizes the importance of striking a balance between Slack’s standalone brand appeal and its integration within the broader Salesforce suite, all while staying true to the original vision set forth when the two companies merged.
Navigating Competition and Technical Changes
Competing with giants like Microsoft, which bundles Teams with Office 365, Dynamics 365, and AI features like Microsoft Copilot, presents additional challenges. Dresser must navigate these waters carefully to expand Slack’s user base without alienating existing customers.
Furthermore, Dresser must address technical changes within Slack following the departure of its CTO Cal Henderson, replaced by Salesforce co-founder and CTO Parker Harris. Despite these shifts, Dresser remains focused on fostering human connections and driving Slack’s growth and relevance within the Salesforce ecosystem.
