Shock CFO exit raises culture questions at Canva
Canva prides itself on its culture. But the shock departure of its CFO this week raises questions about the way it has communicated to investors and staff at a critical juncture.
At 10:05am on February 5, staff in Canva's finance department received an unexpected message from their leader, chief financial officer Damien Singh.
Singh, who had been with the company for eight years and was recently named Australian CFO of the year, explained that he'd been working closely with other leaders in the division to "explore what's needed for the next phase of our journey", a veiled reference to its eagerly anticipated IPO which is expected take place as soon as next year.
"As part of this, I also wanted to share that today marks by last day at Canva."
It was a bombshell announcement, coming right on the eve of Canva's $US1.5 billion secondary share sale, which is designed to let early investors and staff to cash out their holdings. Heavyweight investors Ontario Teachers Pension Plan and Goldman Sachs are the buyers.
