February 5, 2020
LinkedIn CEO steps aside after 11 years, says time is right
The LinkedIn professional networking service is getting a new CEO.
Jeff Weiner will become executive chairman after 11 years as chief of the Microsoft-owned business. Ryan Roslansky, senior vice president of product, will become CEO as of June 1.
Weiner said the timing felt right personally and professionally, with a ready successor.
Roslansky said LinkedIn's priority of serving the world's professionals isn't going to change.
LinkedIn is a social network for workers and job seekers. Recruiters use it to find new hires. Users can share their resumes, search for jobs and catch up on career advice and the latest news. The basic version is free, though LinkedIn charges to get additional features.
Weiner said he sees his new role as similar to how LinkedIn founder Reid Hoffman helped him.
"He was there to help ensure that I was going to be successful," Weiner said in a video posted by LinkedIn. "So I'd like to replicate this process."
Weiner said he would still be available to represent the company and help with product or strategy reviews.
The service has about 675 million members, compared with 33 million when Weiner joined LinkedIn as CEO in 2008.
Microsoft bought the company for $26 billion in 2016, making it the Redmond, Washington, company's largest acquisition. LinkedIn's annual revenue was $6.8 billion in the fiscal year that ended in June, up 28% from the previous fiscal year. That was 5.4% of Microsoft's total revenue.
Roslansky has been at LinkedIn for more than 10 years. He will report to Microsoft CEO Satya Nadella and join Microsoft's senior leadership team.
© 2020 The Associated Press. All rights reserved.