Steve Cakebread, whose recent departure from Salesforce.com sparked headlines, has re-emerged as a high-level executive at Xactly, a provider of on-demand sales performance management solutions. In his role at Xactly, Cakebread will be responsible for financial operations, legal, IT, facilities and human resources.
Steve Cakebread, whose recent departure from Salesforce.com sparked headlines,
has re-emerged as a high-level executive at Xactly, a provider of on-demand sales performance management solutions.
Xactly on Feb. 11 announced the appointment of Cakebread as its
chief financial and administrative officer. In his role at Xactly,
Cakebread will be responsible for financial operations, legal, IT,
facilities and human resources. Cakebread was most recently the
president and chief strategy officer at Salesforce.com, after serving
as Salesforce.com's chief financial officer for six years.
"Steve Cakebread was in at the start of the global
software-as-a-service [SAAS] revolution and understands all of the
dynamics of a successful SAAS business," said Christopher Cabrera,
president and CEO of Xactly, in a statement. "He possesses a
one-of-a-kind track record of financial-management success in today's
software industry. As a world-class CFO, Steve understands the
significant value of automating incentive sales compensation, and will
be a tremendous resource in helping customers recognize and maximize
the value of their sales performance management investments."
During his tenure as Salesforce.com's CFO, Cakebread helped grow the
company from approximately $22 million in annual revenue during fiscal
year 2002 to approximately $749 million in fiscal year 2008. He also
led the company through its initial public offering in 2004.
"Sales performance management is a large and growing opportunity in
SAAS, and Xactly is the de facto standard with the industry's leading
on-demand product suite, significant market traction and an enviable
record of customer satisfaction," Cakebread said in a statement. "As a
CFO, I am keenly aware of the value of pay-for-performance strategies
that directly impact the top and bottom line." He also said he is
excited by the prospect of taking Xactly "to the next level."
Salesforce.com spread the word of Cakebread's departure via a filing
with the U.S. Securities and Exchange Commission on Feb. 5. The filing
said Cakebread resigned from the company "to pursue other professional
Bruce Francis, vice president of corporate strategy at
Salesforce.com, said, "Steve did a remarkable job in his time here at
Salesforce.com, putting the people and processes in place to build an
outstanding company. And we wish him all the best in his future
Cakebread came to Salesforce.com from Autodesk, where he served as
senior vice president and chief financial officer, responsible for all
of the company's accounting and corporate finance functions.
Prior to joining Autodesk, Cakebread was vice president of finance
for Silicon Graphics, where he managed accounting and finance,
information systems, and global sales and service administration. He
has also held many key positions at Hewlett-Packard, where he gained
experience in global operations for high technology, according to
Meanwhile, in related news, Salesforce.com announced that its fourth
quarter fiscal 2009 results will be released on Feb. 25 after the close
of the market.