C3 AI reports declining revenue, announces new CEO to replace Siebel
The C3.Ai logo is seen in this picture on January 8, 2024 near a computer motherboard.
Dado Ruvic | Reuters
Enterprise Artificial Intelligence Company Shares C3 AI Mali announced the results of the first quarter and the appointment of Stephen Ehikian as its new CEO.
In the same period of the previous year, the C3 AI reported $ 70.3 million from $ 87.2 million for the quarter. The company’s net loss damage expanded to 86 cents loss from 50 cents a year ago.
Ehikian, two companies that have been purchased for a long time have been a technology manager. SalesforceC3 Ai said. C3 AI, Ehikian’s new role on September 1, he said.
C3 AI, former CEO Thomas Siebel’s “significant vision impairment” in the earlier this year has been diagnosed with an autoimmune disease.
Ehikian, “C3 AI is one of the most important companies in AI landscape and corporate software with a unique platform and applications.” He said. He continued: “I am sure that we can capture an increasing share of the enormous market opportunity in Corporate AI.”
The company has been rocky for several months since Siebel’s diagnosis.
After the C3 AI announced that the disappointing preliminary financial results and the restructuring of the global sales and service organization, stocks fell in August.
Siebel, in a statement made in August, said that the sales results in the quarter were “completely unacceptable”. His performance was attributed to the “destructive effect” and ongoing health problems of the restructuring.
