In February 2017, Elastic co-founder Steven Schuurman announced his decision to step down as CEO, with fellow co-founder Shay Banon set to succeed him on May 1, 2017. Schuurman expressed his belief that Banon, a long-time partner in the company's journey, is the right visionary leader to guide Elastic through its next phase of growth. Schuurman, who will remain on Elastic's Board of Directors in a non-executive role, reflected on the strong relationship and transparent collaboration he shared with Banon while co-piloting the company. Banon expressed gratitude for their flexible partnership and emphasized his commitment to leading Elastic as it continues its global expansion, supported by an active community and a strong team. Both founders paid tribute to their co-founders, the executive team, and investors for their support and contributions to Elastic's success.