Stock to watch: The share price of Freshworks, a Nasdaq-listed software firm, is likely to be the focus of attention on Monday, September 8, following the resignation of the company’s executive chairman, Girish Mathrubootham.
His decision to step down comes just one and a half years after he quit as the chief executive officer (CEO) of the software-as-a-service (SaaS) major in May 2024, which sent the company stock tumbling by over 25%.
Mathrubootham, who co-founded the company with Shanmugam Krishnasamy in 2010, will step down as chairman of the board and retire on December 1, 2025. The firm was founded in Chennai and is currently based in San Mateo, United States.
Freshworks share price trend
Freshworks shares ended Friday’s stock market session 1.31% lower at $12.84, slipping from the previous close of $13.01.
Overall, the stock has shed nearly 6% over the past five trading sessions on Nasdaq and is down 3.6% over the past month.
Freshworks shares hit their 52-week high level at $19.77 on January 28, 2025, while the 52-week low level was at $10.81 on September 4, 2025, according to the data collected from the Nasdaq website. The company’s market capitalisation (M-Cap) stood at $3.74 billion ( ₹374.19 crore) as of the stock market close on Friday, September 5, 2025.
Why is he stepping down from his position?
Freshworks said in an SEC filing that Mathrubootham will resign as executive chairman and chairman of its board, effective December 1, to devote his efforts to the Venture Capital (VC) fund he cofounded, Together Fund.
The VC fund backs and mentors seed-stage, series A startups working on Artificial Intelligence (AI) applications and infrastructure. He currently advises over 60 companies and cofounded ‘Together Fund’ with Manav Garg.
“What started in Chennai grew into a global SaaS company on Nasdaq — thanks to an amazing team & customers,” Mathrubootham said on social media platform X (formerly Twitter), adding that “Next, I’ll focus on Together Fund & AI startups — working towards India’s dream of becoming a Product Nation.”
Who will replace Girish Mathrubootham
The company said Roxanne Austin, currently serving as the tech company’s lead independent director, will take charge as chairperson of the board.
Austin has been a board member and lead independent director since May 2021 and also serves onthe boards of directors of CrowdStrike and Verizon.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
