In a statement released Tuesday, Salesforce confirmed that Bret Taylor will serve as co-CEO with co-founder and current CEO Mark Benioff.

While he has served the company as president and COO since 2019, his recent promotion also promoted Taylor to vice-chairman of the Board.

Commenting on Taylor’s new position, Salesforce co-founder Benioff said, “Bret is a phenomenal industry leader who has been instrumental in creating incredible success for our customers and driving innovation throughout our company. He has been my trusted friend for years, and I couldn’t be happier to welcome him as Co-CEO. We’re in a new world and Salesforce has never been more relevant or strategic for our customers. Together, Bret and I will lead Salesforce through our next chapter, while living our shared values of trust, customer success, innovation, and equality for all.”

The company also released a third-quarter report that beat analysts’ expectations thanks to revenue from its Customer 360 and Slack platforms.

The company posted a non-GAAP profit of $1.27 per share and third-quarter revenue of $6.86 billion, a jump of 27% from a year earlier. Analysts had forecast a profit of 92 cents per share on revenue of $6.8 billion.