Parson’s long exit from GoDaddy oversight is complete.
Bob Parsons has resigned from the board of GoDaddy (NYSE:GDDY), the company he founded in 1997 that made him a billionaire.
In a press release, GoDaddy said 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 company 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 company, there’s no denying that his entrepreneurial success is not a fluke. He sold his first company to Intuit for $64 million. He then started what later become GoDaddy and watched his cash pile dissolve until the company started selling domain names.
He recounts the story of when the company 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 company. He saw a valet there who seemed very happy parking cars. At that point he made the decision: he’d press ahead with the company; 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 company; there was a focus on physical security. The culture has changed significantly since he left. Internally, the security culture of the company has given way to a Silicon Valley-friendly environment. The company has also eliminated controversial marketing techniques that many called sexist.
Since selling GoDaddy, Parsons has invested in a variety of companies including a golf club maker, marketing firm and real estate. He has also contributed to charities through The Bob & Renee Parsons Foundation.