IBL News | New York
In a surprising move, online learning platform Coursera (NYSE: COUR) announced this week that its veteran CEO, Jeff Maggioncalda, will retire on February 3, and former executive from Amazon, Greg Hart, 55, will take his place, also serving as a member of the Board of the company. Maggioncalda joined Coursera as CEO in June 2017.
Hart, 55 years old, worked at Amazon for 23 years, leading the launch of Alexa and scaling Prime Video globally. He also worked at real estate brokerage Compass as chief product officer. He holds a Bachelor of Arts degree from Williams College and is an inventor or co-inventor on 71 US patents.
This executive [in the picture above] will receive an initial base salary of $590,000 and will be in the company’s bonus pool. His compensation will also include specific restricted stock units and stock options. Hart will also serve as a member of the Coursera board.
Coursera’s Board of Directors said that Greg Hart is the right leader “to deliver the next chapter of growth.”
Yesterday, the shares of Coursera fell 11.6% after the company reported underwhelming fourth-quarter results, with revenue and EBITDA dropping short of Wall Street’s estimates.
Analyst Jabin Bastian from StockStory explained this plunge, saying that investors found Coursera’s record unconvincing regarding growth and strategy. “Growth has been weak in recent quarters, yet management offered no clear guidance for 2025,” he stated.
