Magento CEO Mark Lavelle is leaving the business almost one year after Adobe acquired the ecommerce platform for US$1.7 billion.
Founded in 2008, Magento was sold to eBay in 2011. Ebay then offloaded Magento in 2015 to global private equity firm, Permira Funds, which allowed the business to run as an independent company until it was acquired by Adobe in May 2018.
Lavelle, who has led the Magento since it was part of eBay, said the business has completed much of the work required to become part of the Adobe family.
“With so much progress made making Magento part of Adobe, this is the right time for me to step aside. I sincerely thank everyone I’ve had the great privilege of working with on this amazing journey. As part of Adobe, I know the best is yet to come for Magento!” Lavelle posted on LinkedIn last week.
Magento’s sales, marketing, and product teams are being fully integrated into the Adobe Experience Cloud business unit. It’s part of a wider organisational restructure Adobe is undertaking to make room for Magento and Marketo, which it acquired for for $4.75 billion in September 2018.
“I decided that this moment also marks the right time for me to step aside as the commerce leader within Adobe. This is a bittersweet decision for me. Being a part of the Magento community for the last eight years means more to me than I can put into words,” Lavelle said in a blog post.
He said the organisational changes would “accelerate the pace of innovation by allowing our commerce teams to collaborate more seamlessly with their Adobe counterparts” and reiterated Adobe’s commitment to Magento’s open source ecosystem.
“I made this decision knowing that as part of Adobe, everything we worked to build and preserve about Magento will continue to grow and thrive. In addition to integrating our product platform, Adobe has embraced the open ecosystem that makes us so special.”