C3 AI Initiates Search for New CEO as Tom Siebel Steps Down

C3 AI has announced the initiation of a search for a new Chief Executive Officer to succeed Tom Siebel. This decision follows Siebel's diagnosis with an autoimmune disease earlier this year, which has led to significant visual impairment. Despite stepping down from the CEO role, Siebel will continue to contribute to the company as Executive Chairman, focusing on strategy, product innovation, and maintaining strategic partnerships and customer relationships.

The search for Siebel's successor will be conducted by an internationally renowned search firm, overseen by a committee comprising members of the C3 AI board and management team. Siebel, who founded C3 AI in 2009, has been instrumental in its growth, leading the company through its public offering and significant revenue increases.

C3 AI is a prominent provider of enterprise AI software, offering a comprehensive suite of AI applications across various industries. The company reported $108.7 million in revenue last quarter, marking a 26% increase from the previous year. C3 AI anticipates closing its current fiscal year with sales between $447.5 million and $484.5 million, continuing its trajectory of growth.