Slack CEO Butterfield is leaving next month

Slack’s CEO, Stewart Butterfield, plans to leave the workplace messaging platform in January, parent company Salesforce Inc said Monday.

A company spokesperson said Lidiane Jones, senior vice president of product management for Salesforce Commerce Cloud, will take over as CEO of Slack.

Business Insider first reported the news earlier in the day.

Shares of Salesforce, a component of the Dow Jones Industrial Average, fell about 4%.

Salesforce acquired Slack last year in a deal worth nearly $28 billion after betting big that Slack’s workplace app would become popular for collaboration within and between companies.

Shares of Salesforce tumbled last week after the sudden departure of co-CEO Bret Taylor caught Wall Street off guard and raised concerns about the value of having two leaders.

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