The fifth richest man in Australia is taking leave from the company he co-founded in 2002. Scott Farquhar announced his last day as Atlassian co-CEO will be August 31. The NASDAQ-traded company is valued at $78 billion.
He spent 23 years behind the wheel of Australia’s pre-eminent tech company. Now, Atlassian co-founder and co-CEO Scott Farquhar is stepping away to share his knowledge and expertise with the next generation.
“I’m looking forward to spending some time with my young family, improving the world via philanthropy with Skip Foundation and Pledge 1%, investing with Skip Capital, as well as mentoring other tech CEOs,” Farquhar says in a statement.
The impact of the company he started with Mike Cannon-Brooks in 2002 is far-reaching.
“Today, rockets don’t launch into orbit without Atlassian’s software 🚀. From helping to land the Mars Rover, to ensuring cars roll off the production line and Domino’s pizzas are delivered on time, to life-saving medical procedures being tracked and managed in hospitals, our solutions are woven into the fabric of teamwork worldwide,” says Farquhar.
The 44-year old will stay on board the Atlassian ship as a board member and special advisor, but will step away from day-to-day duties. Cannon-Brookes, the sole CEO of the tech juggernaut as of September 1st, commended his co-founder and partner in a statement.
“Mate – I couldn’t be prouder of what we have achieved together. Atlassian and the wider tech ecosystem wouldn’t be what they are today without you Scott Farquhar. From the very beginning, you’ve been an incredible leader, partner and friend,” says Cannon-Brookes.
The Australia Tech Council also released a statement about the multi-faceted work Farquhar has pioneered.
“Atlassian has been a trailblazer in the Australian tech landscape. Scott has demonstrated how to start and scale a globally successful tech company from Australian shores and inspired countless founders and startups to do the same,” the statement reads.
“His passion has also extended far beyond the bounds of his own company, with a strong interest and commitment to supporting the broader growth of Australian tech, including as a highly-valued Director of the Tech Council.”
Nick Crocker, general partner at Blackbird Ventures, called Farquhar’s tenure with Atlassian ‘a historic run.’
“I don’t think we appreciate how deeply Atlassian’s success has changed what’s possible for a generation of Australians. And to do it all with such humility, and care is really something else. From a kid scout to a globally admired CEO… bravo,” Crocker writes on LinkedIn.
Pledge 1%
Farquhar started Pledge 1% in 2014. The philanthropic organisation has partnered with 18,000 members around the globe to commit 1% of profits toward their communities. The initiative asks organisations to donate 1% of their staff time, product, profit and/or equity to philanthropy.
Pledge 1% was founded by Farquhar at Atlassian, Marc Benioff from Salesforce, and Rally. Billions of dollars have since been pledged toward doing good in the world.
Skip Foundation and Skip Capital
Farquhar also co-founded the investment fund Skip Capital, focused on technology and infrastructure. Skip has invested in Australian unicorns Canva, Culture Amp, and Airwallex among many others.
His partner, Kim Jackson, is co-founder of Skip Capital. Jackson is a former investment banker who has two decades of experience investing. Jackson says Skip invests patient capital that is long-term focused.
Farquhar and Jackson have also partnered on the Skip Foundation, which prioritises funding health innovation that has the potential to save millions of lives. The organisation is also focused on expanding the equality of opportunity and contributing to environmental causes.
Jackson studied engineering and commerce at ANU and is spearheading a scholarship through the Skip Foundation to give other women the same opportunity.
Atlassian by the numbers
- 10,000+ Atlassians
- Employees in 13 countries
- 260,000+ customers
- 1% donated of all profit, employee time, and equity
- $132 million donated in community licenses
- 6,000+ apps in the Atlassian Marketplace
- 4.6M+ community members
- 2 planets with Atlassian software
Look back on the week that was with hand-picked articles from Australia and around the world. Sign up to the Forbes Australia newsletter here or become a member here.
