Atlassian co-founder Scott Farquhar steps down in shock announcement

The co-chief executive of Australia’s biggest tech business has stepped down more than two decades after he co-founded the company.

Atlassian announced Scott Farquhar will step down during the release of their third quarter financial results on Thursday.

Mr Farquhar’s last day will be August 31 but will remain active as a board member and assume a special adviser role.

Co-founder Mike Cannon-Brookes will continue to lead as chief executive. 

‘This quarter will be marked by more than a momentous cloud milestone,’ Atlassian wrote in a letter to shareholders.

‘After an incredible 23 years, Scott Farquhar has made the decision to step down as co-CEO.’

Mr Farquhar will step down to spend more time with his family and on philanthropic endeavours.

‘While it’s a difficult decision to step away, I do so knowing Atlassian is exceptionally positioned to take hold of the massive opportunities at its feet,’ he said.

‘We have a strong leadership team, and great momentum around cloud, enterprise, and now, AI.’

More to come.