Michael L. Chasen is stepping down as president and chief executive officer of Blackboard in December, to be replaced by Jay Bhatt, who is currently president and CEO at Progress
Michael L. Chasen is stepping down as president and chief executive officer of Blackboard in December, to be replaced by Jay Bhatt, who is currently president and CEO at Progress Software Corp.
Chasen and Matt Pittinsky founded Blackboard 15 years ago.
“It’s been an amazing experience,” Chasen wrote in a memo to clients, partners and staff. “I am extremely proud of the work we’ve done to date, and I’m excited about the bright future of Blackboard.
“While it has been a great privilege to lead the company for so long, the Board of Directors and I have decided that now is the right time to bring on a new CEO to help the company take the next steps to carry this vision forward.”
Before his stint at Progress Software, Bhatt helped Autodesk grow to more $2 billion in revenue. According to Chasen, Bhatt has “an impressive background with extensive experience in the software industry. Additionally, Jay has a passion for education, which makes him a great fit for Blackboard and aligns him with the company’s mission to continue to improve and extend education globally.”
In the coming months, Chasen will work closely with Bhatt, Ray Henderson and the rest of Blackboard’s senior executive team to ensure a smooth transition.
“I’d like to thank all the members of the Blackboard community,” Chasen wrote, “We’ve done a lot to support education globally, and I’m looking forward to seeing that work continue and strengthen over time.