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Dan Springer 鈥�85

By Dick Anderson
Alumni
Economics
Mathematics
1985

At the height of his career in 2014, Dan Springer stepped away from the daily grind to raise his two sons. Then a dream job with DocuSign lured him back to the office鈥攁nd personally and professionally, he鈥檚 never been happier.

Growing up in an era when checks were a part of everyday life, Dan Springer would balance his mom鈥檚 checkbook for her. But his penchant for organization didn鈥檛 stop there. 鈥淚 often created programs for myself and for other people in my family,鈥� he recalls. 鈥淚 would call them more to-do lists than truly schedules. But definitely, yes, I was a very organized and structured person.鈥�

In its own 21st-century way, DocuSign鈥攆ounded in 2003鈥攂rings organization and structure to the documented agreement process. A $15-billion player in the e-signature and larger Agreement Cloud space, it鈥檚 a natural for Springer, who joined the company as CEO in January 2017 after a long and protracted search.

Like millions of others, Springer鈥檚 initial exposure to DocuSign was as a consumer. 鈥淚 thought it was such an amazing product,鈥� he says. DocuSign eSignature is the world鈥檚 No. 1 way to sign electronically on practically any device, with more than 560,000 customers in more than 180 countries. 鈥淧eople tell you stories about how they bought their house using DocuSign or used it at their job,鈥濃€圫pringer adds. 鈥淚t鈥檚 a great place to work because customers love the product.鈥�

Springer鈥檚 initial exposure to Occidental came during a college tour with two high school buddies, and he fell in love with the place. In the grand tradition of the liberal arts, Springer changed his major more than once. After taking his first political science class taught by Roger Boesche, Springer says, 鈥淚 wanted to be a poli sci major. Then I met Woody Studenmund and I wanted to major in economics. I just kept finding professors and getting excited about what they did.鈥� Eventually he wound up as an economics and math double major.

He also became involved in the Blyth Fund, the student-run investment group, and was president of the fund his senior year. Working with an alumnus who was a broker with Kidder, Peabody鈥攖he renowned investment securities firm鈥擲pringer and his team learned how to evaluate companies with the potential to be successful investments.

After graduating from Harvard Business School with an MBA, Springer landed his dream job as a consultant at McKinsey & Company鈥攆irst in San Francisco, and later opening an office in Seattle. While he enjoyed developing strategies with various clients for their business, he found himself frustrated by the itinerant nature of his work. 鈥淚 wanted to be part of the success,鈥� Springer says. 鈥淚 realized I should probably be in more of an operating role.鈥�

In late 1997, Springer became head of marketing at a company called NextCard in San Francisco鈥攅ffectively a general manager role at an early-stage startup. He helped take the company public on his 36th birthday in May 1999, and followed that with stints as CEO at Telleo (a San Jose-based startup) and managing director of Modem Media (an interactive marketing strategy and services company in San Francisco).

Those operating roles teed Springer up to take the reins of Redwood City-based Responsys, a privately held email services provider that became the leading provider of cloud-based business-to-consumer marketing software under his leadership.

鈥淩esponsys was a great experience for me,鈥� Springer says. When he arrived on April 1, 2004, the company was in need of a turnaround, having ridden a hot streak through the late 1990s and early 2000s, 鈥渞ight before the dot.com crash,鈥� he says. 鈥淭hey had a couple of CEOs that didn鈥檛 work out and the company was floundering a little bit,鈥� with shrinking revenues of about $15 million and a diminished roster of some 75 employees.

After Responsys went public in 2011, the company was sold to Oracle in 2014 for $1.6 billion, 鈥渨hich is a very good outcome,鈥� Springer admits. He calls his 10-year run as CEO 鈥減robably the formative experience for my career. Whatever management style I might have, it got shaped at Responsys.鈥�

Springer was named the Bay Area鈥檚 Most Admired CEO at a public company with revenue under $500 million by the San Francisco Business Times in 2011. 鈥淵ou get way too much credit for something being successful if you鈥檙e the CEO, and sometimes you get too much blame if something doesn鈥檛 work out. But I got way more credit than I deserved for Responsys.鈥�

At the height of his success, Springer, newly divorced, walked away from Responsys to become a full-time parent to his two teenage sons. 鈥淚 know it sounds weird to not have a job as a career, but that was the best career decision I ever made,鈥� he says. 鈥淚 was always a very hands-on dad, but it鈥檚 a different level of when you will make that your No. 1 priority. I worked with a private equity firm. I helped with investments. I joined five boards. It wasn鈥檛 like I didn鈥檛 do anything, but I only worked 9 to 5.鈥�

The big difference about having an operating role vs. a consulting role, he says, is being able to step away from the job each day. 鈥淲hen you鈥檙e just on boards and working with a private equity firm, you go to lacrosse practice to watch the entire practice and pick the boys up, you don鈥檛 think about work鈥攜our mind is all on them. And being able to have that time, it really enriched our relationship to a whole new level.鈥�

鈥淲hen I think about what makes Dan really special as a parent, he has a tremendous sense of humor with his kids and about himself,鈥� says Lisa Coscino 鈥�85. 鈥淗e鈥檚 such a good listener and doesn鈥檛 interrupt someone 20 times even if what he鈥檚 hearing is really tough to hear.鈥�

Coscino鈥攁n Oxy trustee and executive director at Pacific Art League of Palo Alto鈥攔econnected with Springer through LinkedIn, of all places. 鈥淚 did not believe Lisa would have remembered me,鈥濃€圫pringer says. 鈥淚 told her, 鈥榊ou must be thinking of somebody else.鈥� And she said, 鈥楴o, I remember.鈥� And I said, 鈥業f you can say three things about me that are true, I鈥檒l give $1,000 to your favorite charity.鈥� 鈥�

Coscino told him three things: 鈥淵ou were captain of the soccer team, you had curly dark hair, and you dated Kathy Witwer 鈥�85 all through college.鈥� Springer made good on his bet, invited Coscino to a Cubs-Giants game, and the two have been close ever since.

Springer lives two blocks from DocuSign headquarters in San Francisco. The company鈥檚 biggest office is in Seattle鈥攖wo miles from his mother鈥檚 house. (When he travels there for meetings, he sleeps in his old bedroom and has breakfast with his mom every morning.) Even so, it took some arm-twisting to lure Springer back to the daily corporate grind.

Founded in Seattle, DocuSign relocated its headquarters to the Bay Area in 2014. In October 2015, chairman and CEO Keith Krach announced he was ready to step down from his CEO duties, prompting a search for a successor. Springer鈥檚 name cropped up on the short list of candidates鈥攂ut at the time, he wasn鈥檛 looking for a new gig.

In addition to his commitment to his sons, he was 鈥渙n a total career high鈥� after turning around Responsys, taking it public, and selling the company 鈥渇or a great outcome,鈥� Springer says. 鈥淚 didn鈥檛 have that need for self-validation in a significant way.鈥�

More than a year later, he was having a conversation with venture capitalist Pete Solvik about a CEO opening in the Bay Area. After a bit of conversation, he learned that the company was DocuSign.

This time, he was interested. 鈥淒ocuSign had a great industry-leading product鈥攂y far the largest in that space, more than double the next biggest player,鈥� he says. Following a whirlwind of conversations鈥攁nd with the blessing of his younger son, Robert鈥擲pringer DocuSigned his job offer on Christmas Eve.

With a largely new management team in place, including a number of his colleagues from Responsys, DocuSign went public on April 27, 2018, at $29 per share. The day after the IPO, Springer scheduled an early- morning meeting with his team. 鈥淚 wanted to remind everyone we鈥檝e got customers to take care of,鈥� he says. 鈥淚t鈥檚 one of the reasons I try to get people to not focus on the stock price.鈥�

As of this writing, DocuSign was trading within a few dollars of its all-time high of $92.55鈥攂ut don鈥檛 look to Springer as the bearer of that news. 鈥淚 only look at our stock price on Friday afternoon,鈥� he explains. 鈥淚 won鈥檛 look at it during the week. Stocks tend to be very volatile鈥擨 get that鈥攂ut when people ask me about our stock price, I make a point of saying, 鈥業 can tell you what the price was last Friday. But I don鈥檛 know what it is on Monday or Tuesday or Wednesday.鈥�

鈥淚t鈥檚 not that I鈥檓 not excited that we are building value,鈥� he adds. 鈥淏ut it鈥檚 all because we take care of our customers. It鈥檚 all because we make this the best place for people to do the best work of their lives. And if we do those things, the stock price takes care of itself. When you start focusing on stock price, companies get messed up because people start thinking about their own wealth creation.鈥�

His own affection for DocuSign notwithstanding, the main reason Springer wanted to get back into general management is his passion for developing people. He likens it to 鈥渉aving kids鈥攚hen you start to realize I love someone more than I love myself and my focus is on their development.

鈥淚 do love it when customers say, 鈥業 love DocuSign,鈥� and it makes me feel good that what we do has a lot of value. But the biggest part is watching people grow and thinking, 鈥楽he never would have been able to do that if it hadn鈥檛 been for this company. He never would have achieved that goal.鈥� 鈥�

That's the sign of a true leader.