Today, Docusign (NASDAQ:DOCU) has been one of the most-watched stocks in the market. In earlier trading today, DOCU stock soared nearly 5% over yesterday’s close. This move came as the company announced that Dan Springer, the company’s CEO, would be stepping down from his role.

This news came following rather disappointing earnings, which saw the company miss on the bottom line, and lower its expectation for future billings. Amid a range of headwinds for the sector, including currency headwinds, higher interest rates, and the threat of a slowing global economy, investors appear to have many reasons to avoid this stock.

That said, this management shakeup could be the catalyst many bulls have been looking for. Sometimes fresh blood can be a good thing. Certainly, that’s the view the market appears to be taking today.

Let’s dive a bit more into the details of this announcement.

Is DOCU Stock a Buy Following Its Executive Shuffle?

Dan Springer led the company through one of its more impressive growth periods, over the past five years. Marked by a pandemic, Docusign and other work-from-home-related stocks soared. Investors priced in hefty future growth expectations for these firms.

However, like many pandemic darlings, Docusign’s forward guidance has deteriorated. This macro environment is one that’s hitting even the best-quality software companies hard. Accordingly, this decline may not necessarily be surprising. Additionally, it’s unclear how much of the stock price decline should be attributed to Springer.

That said, looking forward, investors seem to like what interim CEO Maggie Wilderotter brings to the table. Wilderotter is currently the Chairman of the Board, and has been with the company for the past four years. Her experience in the technology and enterprise services space is something investors appear comfortable with.

Now, whether this executive shuffle will change any of the fundamental drivers behind Docusign’s business is unclear. Indeed, the fact that DOCU stock has already given up much of its earlier gains is an indication of this. That said, sometimes a fresh face is what investors need to turn the page on a new chapter. For Docusign, that appears to be the hope right now.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.