Workday Co-Founder Sells Shares Worth Hundreds of Millions, Maintains Major Shareholder Status

David A. Duffield, co-founder of Workday, Inc. (NASDAQ: WDAY), converted 107,500 Class B shares into Class A shares via his personal trust on March 5, 10 and 18, and subsequently sold approximately 320,000 shares on the open market under a pre-established Rule 10b5-1 plan, generating roughly $45 million in cash (about ₩600 billion).

According to the regulatory filing, the sale was made to monetize a portion of his holdings and to diversify his investment portfolio. Even after this transaction, the Duffield Trust remains a major shareholder, holding tens of millions of shares worth billions of dollars in Workday equity.

Separately, on February 6 Workday announced an executive leadership transition: co-founder Aneel Bhusri returned to the role of CEO, while outgoing CEO Carl Eschenbach stepped down from both the CEO position and the board to become CEO Strategic Advisor.

In its fiscal 2026 fourth-quarter and full-year results announced on February 24, Workday reported Q4 revenue of approximately $2.5 billion, marking double-digit growth year over year.

Founded in 2005 by David Duffield and Aneel Bhusri, Workday is a leading U.S. cloud-based provider of human capital management and financial management software. The company, listed on NASDAQ, serves more than 10,000 organizations—including a significant portion of the Fortune 500—and is increasingly positioning its artificial intelligence–driven capabilities as a core growth driver.