Atlassian Co-CEO Scott Farquhar Resigns, Leaving Mike Cannon-Brookes as Sole Chief

Atlassian Corp. Co-Chief Executive Officer Scott Farquhar is stepping down from the Australian software company he helped start more than two decades ago, a surprise move that rattled investors.

Farquhar’s counterpart, Mike Cannon-Brookes, will become the sole CEO, the company said Thursday in a statement. The departing executive will step down Aug. 31 and remain on Atlassian’s board. Farquhar plans to “spend more time with his young family, improve the world via philanthropy and help further the technology industry globally,” according to the statement.