: UiPath co-Founder Daniel Dines to give up co-CEO role, to focus on AI initiatives

UiPath Inc. PATH disclosed Monday that co-Founder and co-Chief Executive Officer Daniel Dines will resign from his co-CEO position, effective Jan. 31, 2024. With the resignation, fellow co-CEO Rob Enslin will serve as the automation-software company’s only CEO. Dines will assume a newly created role of Chief Innovation Officer has he leads the company’s artificial-intelligence (AI) initiatives, and will continue as UiPath’s executive chairman of the board. “I plan to drive the UiPath innovation agenda to transform enterprise automation by harnessing the next-generation of AI technologies into practical solutions for our customers,” Dines said in a blog post. The stock, which rose 0.1% in premarket trading, has run up 29.7% year to date through Friday while the S&P 500 SPX has gained 14.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.