Asana Appoints Seasoned Finance Executive, Sonalee Parekh, as New Chief Financial Officer

By Business Wire On Sep 4, 2024

Asana, a leading work management platform, announced the appointment of Sonalee Parekh as Chief Financial Officer, effective September 11, 2024. Parekh will succeed Tim Wan, who has served in the role since 2017. Wan will remain with the company in an advisory position to support the transition.

Parekh brings more than 25 years of experience in the technology and banking sectors to Asana, having previously held executive finance roles at leading public companies including Chief Financial Officer (CFO) at RingCentral and Divisional CFO, Head of Corporate Development and Investor Relations at Hewlett Packard Enterprise (HPE). At Asana, Parekh will oversee the global finance organization and play a strategic role in supporting the company’s next phase of growth and innovation.

Dustin Moskovitz, Asana’s co-founder and CEO, welcomed Parekh to the leadership team: “Sonalee’s public company experience and market perspective, coupled with her proven track record of driving growth and profitability at scale, makes her the ideal person to partner with me and the leadership team as we execute on the large opportunity ahead of us. She’s had a front-row seat to some of the most transformative technology trends and we’re in the midst of another pivotal moment. AI has the enormous potential to reshape not only the work management category, but the entire software industry. Sonalee’s experience overseeing and fostering efficient growth during critical inflection points will be invaluable to Asana.”

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As CFO at RingCentral, Parekh guided the company through a period of rapid growth, overseeing a doubling of operating profit while maintaining double-digit revenue growth and exceeding $2 billion in annual recurring revenue (ARR). She was also instrumental in the company’s successful expansion into a multi-product portfolio.

At HPE, Parekh played a critical role in the company’s transition to an as-a-service business model and led key acquisitions in high growth areas. Parekh has also previously held senior leadership roles at several global investment banks, including Goldman Sachs, Jeffries and Barclays Capital.

“Asana is uniquely positioned to capitalize on the opportunity to leverage AI in the work management category to drive productivity and efficiency benefits for workers across the globe,” said Parekh. “I’m excited to partner with Dustin and Asana’s seasoned management team in driving Asana’s next phase of growth.”

Parekh will be supported by exiting Asana CFO, Tim Wan, for a transition period. Moskovitz continued: “We’ve been incredibly lucky to have the skills and experience of Tim with us for so long. Under his leadership, the company has grown to more than $689 million in revenue. He’s embodied all of our Asana values and been integral to the company’s expansion from fewer than 300 employees to nearly 2000. He’ll be sincerely missed and we thank him for his many contributions.”

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