Resigns from GoDaddy’s board — Bob Parsons
Parson’s long exit from GoDaddy oversight is complete.
Bob Parsons has resigned from the board of GoDaddy (NYSE:GDDY), the firm he founded in 1997 that made him a billionaire.
In a press release, GoDaddy stated that Parsons will spend more time on his other businesses and philanthropic ventures.
Parsons hasn’t been involved day-to-day at GoDaddy for some time. He resigned as CEO in 2011 when he sold the firm to a consortium of private equity firms. Parsons was Executive Chairman of the board until 2014 when he switched to just being a board member.
Although I butted heads with Parsons a few times as he built his firm, there’s no denying that his entrepreneurial success is not a fluke. He sold his first firm to Intuit for $64 million. He then started what later become GoDaddy and watched his cash pile dissolve until the firm started selling domain names.
He recounts the story of when the firm almost went bust. He had a few million dollars left in the bank and went on vacation to figure out if he wanted to shut down the firm. He saw a valet there who seemed very happy parking cars. At that point he made the decision: he’d press ahead with the firm; if it failed, he could always be happy doing something else. That turned out to be an excellent decision.
Parsons is a Marine and Purple Heart recipient. His experience in the Marines impacted how he ran the firm; there was a focus on physical security. The culture has changed significantly since he left. Internally, the security culture of the firm has given way to a Silicon Valley-friendly environment. The firm has also eliminated controversial marketing techniques that many called sexist.
Since selling GoDaddy, Parsons has invested in a variety of firms counting a golf club maker, marketing firm and real estate. He has also contributed to charities through The Bob & Renee Parsons Foundation.
