Discord Sets Sights on IPO with New CEO from Activision

Jason Citron, the co-founder of Discord, has declared his resignation from the role of CEO, which will instead be taken over by Humam Sakhnini, previously at Activision Blizzard. While stepping back from day-to-day operations, Citron will continue to contribute to the company as part of its board of directors and as an adviser to the incoming leader.

Citron's departure occurred slightly more than a month following the appearance of reports indicating that Discord was planning to make advancements towards going public as a corporation , and that is precisely what’s happening: The departing CEO stated that Sakhnini was brought on board “to guide Discord through our next phase of expansion and eventually take the company public.”

“As we move into our subsequent stage, I have been contemplating how I can most effectively support Discord’s enduring prosperity,” Citron stated in a communication to Discord staff members that was additionally posted online. company's blog The role of a CEO continually changes, and throughout the years, I've consistently taken on new responsibilities by essentially 'replacing my own position.' This typically involves handing off tasks and embracing various leadership opportunities. Yet, considering the demands placed upon Discord’s CEO in the coming years, I recognize that it's now necessary for me to actually 'replace myself'.

What I am certain about is this: my company transcends any single individual. The direction of its future hinges not only on me, but also on having a robust leadership group, a well-defined outlook for upcoming ventures, along with everyone’s exceptional skills, dedication, and effort. Presently, our organization embodies these elements perfectly; it stands as the finest iteration yet. We possess a distinct plan, emerging markets ready to be tapped, unwavering support and enthusiasm from our user base, and a phenomenal workforce committed to serving their needs relentlessly.

Sakhnini undoubtedly appears to be someone well-versed in navigating through banks and boardrooms. LinkedIn The page states that he worked for the management consultancy firm McKinsey & Company for eight years prior to his appointment as Chief Strategy and Talent Officer at Activision Blizzard in 2009. In 2016, subsequent to Activision’s purchase of King, he assumed the role of CFO at that company and was later promoted to President, which he maintained up until 2022 when he took on the position of Vice Chairman of Activision Blizzard's board. He stepped down from this role in 2023 shortly after Microsoft completed its acquisition of the company.

"Sakhnini expressed excitement about joining Discord during this crucial time," as stated separately. statement Discord plays a crucial role within the gaming community, serving as a cornerstone for millions of gamers, developers, and content creators who use it daily. The achievement of Jason and Stan Vishnevskiy, Discord’s co-founder and Chief Technology Officer, is impressive—an platform perfectly aligned with user needs, connecting hundreds of millions of individuals through their love for gaming and common hobbies.

I am excited about collaborating with Stan and Discord’s skilled team to expand our operations while maintaining the essence of the company's fundamental purpose and its distinctive bond with gamer communities. Gaming continues to reshape entertainment and culture, and Discord is ideally situated to take on a pivotal position in this evolving landscape.

Similar to nearly every gaming and related company out there, Discord mishandled the COVID-19 pandemic by overly expanding under unsustainable circumstances, following which it dismissed many workers In pursuit of—surprise!—"greater flexibility."

In May 2024, Discord announced a new plan That resembled their previous strategy: Creating a space where individuals can socialize as they engage in online gaming. It remains uncertain whether this emphasis will endure after the firm passes into the control of institutional investors who solely aim to boost financial figures. Like my colleague Joshua Wolens, I harbor serious reservations about this prospect. Nonetheless, it appears that we'll soon discover how things unfold, regardless of the outcome.

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