(Bloomberg) — Salesforce Inc. Co-Chief Executive Officer Marc Benioff said the company will continue to make acquisitions, while focusing more immediately on integrating companies it already bought.
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“We’ve bought 60 companies — we’ll always buy companies,” Benioff said Thursday in an interview with Bloomberg Television from the software giant’s annual Dreamforce conference. Meanwhile, Salesforce is still integrating employees of recently acquired firms like Tableau, he said.
The customer-relations software giant is aiming to improve its margins as economic sentiment has soured. The company reaffirmed its target of $50 billion revenue by fiscal year 2026 — nearly double its current annual sales — while adding a new profit margin target of 25% during an investor event Wednesday. “Now we want to have very strong margins,” Benioff said.
Like many of its tech peers, the company has tightened its spending on hiring and travel after growing its workforce through the pandemic. “We all invested aggressively in the last two years, and we are absorbing those investments into our business,” Benioff said. Further reductions of investment in the workforce are “certainty not our intention,” he said
The co-founder and board chair has shared chief executive officer duties with Bret Taylor for nearly a year since the product leader was promoted to share the top job in November 2021. Benioff called Taylor a “fantastic leader of the company.”
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Benioff said he will stick to his joint CEO duties “as long as everybody wants me to do it,” he said. “So far it seems to be working.”
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