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Gene Farrell, Smartsheet exec at center of 2017 Amazon lawsuit, leaving to become fintech CEO

Gene Farrell, Smartsheet‘s chief technique and product officer, is leaving to become CEO of a monetary expertise startup, the Bellevue-based work administration expertise firm said in a regulatory filing this morning.

Farrell is becoming a member of Vanilla, a Los Angeles-based estate-planning platform based in 2019 by entrepreneur and financial advisor Steve Lockshin.

Smartsheet additionally raised its monetary steering for its third fiscal quarter, ended Oct. 31, citing stronger-than-expected demand for its expertise.

Farrell’s arrival at Smartsheet in 2017 made headlines when his prior employer, Amazon, sued to block him from taking the job beneath phrases of his non-compete settlement. Amazon later dropped the suit, saying it reached an settlement to put short-term restrictions on Farrell’s work.

His departure from Smartsheet, efficient Dec. 10, is an element of a bigger government reshuffling announced by the company Friday morning.

“With these new appointments, we’re properly positioned to help our subsequent chapter of success and development,” Smartsheet CEO Mark Mader said in a press release.

Mader added, “I need to thank Gene and Paul for his or her contributions to Smartsheet over the previous 4 years as we accomplished a profitable IPO, scaled the enterprise from $100 million to over $500 million in annual recurring income, accomplished 4 acquisitions, and expanded our world footprint.”

In an announcement launched by Smartsheet, Farrell expressed gratitude for his time at the corporate and optimism within the revamped management crew.

For its third fiscal quarter, the corporate raised its income steering to a spread of $143.5 million to $144.5 million, from a prior range of $138 million to $139 million.

Smartsheet inventory rose 3.67% to $70.97 in preliminary buying and selling Friday on the New York Inventory Alternate.

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