Good morning. As the role of CFOs continues to evolve, some companies are thinking of new ways to amplify their strategic mindsets. There has been a trend in finance chiefs taking on the additional role of chief operating officer, but Salesforce has taken that a step further.
The tech giant announced on Wednesday that Robin Washington was appointed to the newly created position of president and COFO—chief operating and financial officer—effective March 21. Washington, a longtime Salesforce board member who is adept in technology including agentic AI, will lead Salesforce’s operational and financial strategy, which used to be the job of two people. As COFO, Washington isn't seen as wearing two different hats.
Brian Millham, the chief operating officer, will retire on May 1, and transition into an advisory role. And, Amy Weaver, the current CFO, announced last year that she would be transitioning from Salesforce once a new CFO was named. In a LinkedIn post on Aug. 28, Weaver said she decided to step down “after nearly 11 wonderful years at Salesforce." She will serve as a special advisor to Benioff through April 2026.
Washington spent decades working on financial and operational strategy, including serving as EVP and CFO of Gilead Sciences, CFO of Hyperion Solutions, and chief accounting officer of PeopleSoft. She has been a member of the Salesforce board since 2013, and lead independent director since 2022.
After Washington joins the company as COFO, Arnold Donald will become the lead independent director, and Washington will remain on the Salesforce board, the company said. She has also served on the boards of Alphabet, Eikon Therapeutics, Honeywell International, and Vertiv Holdings.
Pending board approval, Washington will be offered a compensation package with a total potential maximum value of $38.5 million, assuming maximum payouts, achievement of goals, and that she remains at Salesforce, according to her offer letter. That total potential value includes a base salary of $1.1 million; an annual cash bonus of up to $1.9 million; a one-time sign-on bonus of $8.5 million in cash that she’ll have to repay if she leaves within two years; a performance-based equity grant with a potential maximum value of $18 million; and, a time-based restricted-stock unit grant valued at $9 million.
Salesforce is No. 123 in the Fortune 500, so her appointment is considered a Fortune 500 Power Move. Marc Benioff, chair and CEO of Salesforce, said in a statement that he’s thrilled to welcome Washington as COFO at “this incredible moment when Al agents are redefining the workforce." Washington is a key architect of the company’s strategy to “accelerate the rise of Agentforce—the first digital labor platform,” he said.
In a recent episode of Fortune’s Leadership Next podcast, Benioff talked with host Diane Brady about Agentforce, which allows companies to create AI agents to help employees with their work. A recent report by the Bank of America Institute refers to agentic AI as the newest AI wave that may ultimately spark corporate efficiency that transforms the global economy.
Washington is ready to lead Salesforce, its employees, and customers into this “agent-first era that will fundamentally change how businesses operate, innovate, and grow,” she said in a statement.
“I am deeply honored to step into this role at such a defining moment for Salesforce and the entire industry,” she said.
Sheryl Estrada
sheryl.estrada@fortune.com
