Monday.com is restructuring its workforce under a newly-created exec position

• Monday.com tapped Yoni Osherov, formerly head of sales, as its first chief revenue officer.
• The firm is restructuring, and all customer-facing teams will now report to Osherov.
• The move comes at a critical time as Monday.com looks to strengthen customer ties amid the downturn.

Monday.com has a new chief revenue officer — the first in the company's 10-year history. Yoni Osherov has been promoted to the role after five years as the company's head of sales.

With Osherov's promotion comes a restructuring for the workplace-management-software company. Over half of the company will be restructured to be under his new leadership role, Monday.com told Insider. As CRO, Osherov will oversee all customer-facing teams, including consulting and sales, customer experience, marketing, customer success, and partners.

The leaders of these teams had reported to co-CEOs Eran Zinman and Roy Mann. Osherov will continue to report to the two co-CEOs.

The move comes at a critical time for Monday.com. The company last week reported third-quarter earnings results that showed 65% growth in revenue from the same quarter a year ago. In the first and second quarters this year, it saw 84% and 75% growth respectively.

While the latest quarter signals a slowdown, Osherov said the company was still growing quickly one year after its initial public offering and had reached a scale where it needed to put new executive leadership in place.

"We are still growing very fast as an organization," Osherov told Insider. "We've added a significant amount of people in the last few years. We tripled our revenue in the last two years. So I think it's kind of the next natural step in the progression of the company."

The main motivation behind the restructuring is to bring all customer-facing teams under one umbrella so they can more easily collaborate. The goal is to make the customer experience more seamless, Osherov said.

"We believe that it'll help us put the customer really at the center of everything that we do," he said.

That's especially important in the current environment, as tech companies large and small cut costs, conduct layoffs, and reevaluate which workplace tools they truly need. Monday.com's leaders are closely monitoring the impact it's having on their customers, Zinman and Mann said in a letter to shareholders when reporting earnings results.

While there are some "pockets of stress" in the customer base, "new customer demand has remained solid," they said.

"We really believe that it's an opportunity for us more than a challenge," Osherov said.

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