DigitalOcean convenes search committee to identify next CEO

DigitalOcean Holdings announced its implementation of a leadership succession plan to identify the Company’s next CEO. Yancey Spruill will continue to serve as Chief Executive Officer until a successor has been appointed, at which point he will step down from his role and as a member of the Board. The Board has convened a Search Committee to identify DigitalOcean’s next CEO, and the search process is already underway. The Board has also retained Spencer Stuart, a leading executive search firm, to assist in the process. The Company also announced that Warren Adelman, who has served on the Board since 2020 and as lead independent director since 2022, has been appointed Executive Chairman of the Board, effective immediately. “As we considered how to best position DigitalOcean for long-term success and scalable growth, the Board and Yancey agreed that now is the right time to prepare for our next phase of leadership,” said Adelman. “As the search for DigitalOcean’s next CEO progresses, we are focused on identifying a candidate with deep cloud technology and operational expertise to execute the strategic initiatives underway and deliver strong results.”