Search software maker Elastic said Wednesday that Ashutosh Kulkarni, who joined the company as chief product officer last year, will replace co-founder Shay Banon as CEO.
Banon is assuming the role of technology chief at the company, a position he held from 2012 to 2017.
Banon took Elastic public in 2018. The stock has risen about 60% from the $70 closing price on its first day of trading. It fell 15% in December after the company reported a wider-than-expected quarterly loss. Last week it was among the stocks that got caught up in a larger software sell-off, falling 12%.
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