“This is the right time for me to take a step back, to let someone else with fresh ideas and energy lead the day to day running of the company.”
Envato has delivered a record 20% payout to its global workforce of more than 600 people, as CEO Collis Ta’eed announced his departure from the head role at the end of the year.
“This is the right time for me to take a step back, to let someone else with fresh ideas and energy lead the day to day running of the company”, said Collis during the company’s 14th birthday celebrations, noting that he will remain Chair of the Envato Board when he leaves the top job at the end of 2020.
“I’ve been telling our staff for a few years that it’s time for a change, to close this era in Envato’s history. Our business is transforming; we’re more global than ever before, more subscription oriented than at any time in our history, and we’re rapidly approaching $1 billion USD in total community earnings, which is a milestone that seemed almost fanciful when we set it a few years ago!”
Over his 14 year tenure, Collis has helped build a technology business that supports one of the world’s largest communities for digital creatives. Profitable since inception, Envato is a destination of choice for more than two million customers every year, with tens of thousands of creators, designers and makers selling their skills and digital assets each and every day.
He said the company was currently completing a hiring process for a new CEO and that an announcement would be made in the coming months.
The 20% profit share - which totals $3.75m AUD - is an increase on the 10% allocation in the last financial year, and will also see a rise in the profit contribution to charitable causes, now up to 2% annually.
The changes will make Envato’s annual profit payout among the largest in Australia’s tech sector, and Collis said: “Profit share has become an integral part of Envato and helps connect the team with a share of the success they create through their efforts.”
In announcing the profit share at a company all-hands meeting this week, Collis Ta’eed paid tribute to the Envato staff community through the years.
“I’ve greatly enjoyed seeing how many people connect with our company values as we’ve grown, and to hear them say they enjoy working somewhere values-driven has been a wonderful validation of what we started almost fifteen years ago,” continued Collis.
“I’m sure there are other things I’m going to miss but it definitely feels like the right time.”