Five9, Inc., a leading provider of the Intelligent CX Platform, announced on July 31, 2025, that Chief Executive Officer Mike Burkland will retire from his CEO role. Burkland will remain in the position until a successor is appointed and will transition to Executive Chairman of the Board of Directors to ensure a smooth leadership handover.
Mike Burkland to retire as CEO, staying on until a successor is named by year-end 2025.
Will serve as Executive Chairman to support the transition.
Led Five9 from $10M to over $1B in annual revenue, including a 2014 IPO.
Q2 2025 revenue: $283.3M, up 12% year-over-year; stock (FIVN) at $24.775 on August 4, 2025.
Board seeks new CEO with AI innovation and operational expertise.
Recent executive exits and layoffs fuel speculation of a potential sale.
Mike Burkland, who served as Five9’s CEO from 2008 to 2017 and returned in November 2022, announced his retirement due to ongoing cancer treatment and a desire for a more balanced lifestyle. During his tenure, Burkland drove significant growth, scaling Five9 from $10 million to over $1 billion in annual revenue and leading its 2014 IPO. Since his return, he spearheaded transformation initiatives, including AI-driven enhancements to the Intelligent CX Platform, positioning Five9 as a leader in the cloud contact center market.
“It has been a privilege and an honor to lead this amazing team of Five9ers,” said Burkland. “While my cancer treatments continue to be effective, I recognize that it’s not likely to continue indefinitely. After giving this a lot of thought, I believe it’s time to pass the baton.”
A committee of independent Board directors, led by David Welsh, has engaged a nationally recognized executive search firm to appoint a successor by December 2025. The search prioritizes candidates with expertise in product innovation, operational excellence, and a growth mindset to capitalize on AI-driven market opportunities.
“On behalf of the Board, I want to thank Mike for his leadership and deep commitment to Five9,” said Welsh. “He has fostered a stellar culture and built a market-leading SaaS company.”
Five9 reported Q2 2025 revenue of $283.3 million, a 12% increase from $252.1 million in Q2 2024, with a GAAP gross margin of 54.9% (up from 53.0%) and an adjusted gross margin of 63.0%. However, the company missed earnings per share expectations, contributing to investor concerns. The finance card above shows Five9’s stock (FIVN) at $24.775 on August 4, 2025, down 36% over six months and near its 52-week low of $21.04, with a market cap of $1.88 billion.
Posts on X and industry analyses suggest Burkland’s retirement, combined with recent executive departures (Chief Marketing Officer Niki Hall, EVP of Corporate Strategy Jim Doran, and Head of HR Tricia Yankovich) and layoffs (7% in 2024, 4% in 2025), may signal a potential sale. Analyst Zeus Kerravala noted that private equity interest, including Anson Funds’ board seat in December 2024, could indicate a merger or acquisition.
Five9’s Intelligent CX Platform, powered by Genius AI, serves over 3,000 customers and 1,400 partners globally, facilitating billions of customer interactions annually. Recent moves, including the Acqueon acquisition and a new India data center, aim to enhance omnichannel capabilities and tap into global markets. Despite a 30% year-to-date stock decline, Five9’s double-digit revenue growth and $1.85 current ratio reflect financial stability. The company’s focus on AI-driven customer experiences aligns with competitors like Genesys and AWS, but investor pressure and layoffs suggest strategic restructuring.
Five9 empowers organizations to create hyper-personalized and effortless AI-driven customer experiences that deliver better business outcomes. Powered by Five9 Genius AI and our people, the Five9 Intelligent CX Platform is trusted by 3,000+ customers and 1,400+ partners globally. The New CX starts here and it's at the heart of every winning experience.
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