Key Takeaways Stephen Ehikian takes over as CEO effective September 1, 2025, succeeding Thomas Siebel, who was diagnosed with an autoimmune disease causing visual impairment. Q1 2026 revenue dropped t...
Enterprise artificial intelligence company C3.ai (NYSE: AI) announced Wednesday the appointment of Stephen Ehikian as its new Chief Executive Officer, effective September 1, 2025, while simultaneously reporting disappointing first-quarter fiscal 2026 results that sent shares tumbling in after-hours trading.
The leadership change comes after founder and former CEO Thomas Siebel revealed in July that he had been diagnosed with an autoimmune disease earlier this year that resulted in significant visual impairment.
"After being diagnosed with an autoimmune disease in early 2025, I have experienced significant visual impairment," Siebel stated when the company first announced the CEO search in July. "For C3 AI to reach its full potential — which I believe is spectacular — the board and I have initiated a search for a new CEO who can take the company to the next level of growth and success."
Siebel will continue to serve as Executive Chairman, focusing on strategy, product innovation, and key customer relationships.
Ehikian, a seasoned technology entrepreneur, most recently served as President Trump's appointee as Acting Administrator of the U.S. General Services Administration (GSA).
In that role, he strengthened GSA's technology infrastructure and was responsible for implementing the President's AI Action Plan. Prior to government service, he built two companies—RelateIQ and Airkit.ai—both acquired by Salesforce.
"I am honored to join C3 AI at such a pivotal time in the AI era," said Ehikian. "C3 AI is one of the most important companies in the AI landscape and enterprise software, with a platform and applications that are unmatched. I am confident that we will be able to capture an increasing share of the immense market opportunity in Enterprise AI."
The leadership announcement came alongside troubling financial results for the first quarter of fiscal 2026, which ended July 31, 2025. C3 AI reported $70.3 million in revenue for the quarter, down from $87.2 million during the same period last year. The company's GAAP net loss widened to an 86-cent loss from a 50-cent loss a year ago.
The results fell significantly short of analyst expectations, with revenue missing consensus estimates by approximately 25%. The disappointing performance prompted the company to withdraw its previously issued fiscal year 2026 guidance, citing both the leadership transition and recent restructuring of its sales and services organizations.
Board members expressed strong confidence in Ehikian's appointment.
"Throughout his career, Stephen has demonstrated how technology can create value — for businesses, institutions, and society," said Jim Hagemann Snabe, Chairman of Siemens, former co-CEO of SAP, and C3 AI Board Member. "With his deep technical expertise and proven ability to build future-forward companies, I am confident C3 AI will extend its leadership in Enterprise AI and define the future of agentic AI."
Former U.S. Secretary of State Condoleezza Rice, also a C3 AI board member, emphasized Ehikian's diverse experience: "Stephen combines entrepreneurial success, technological expertise, and public service experience, and a deep underlying understanding of how AI can serve both commercial markets and government."
"Under the leadership of Stephen Ehikian, we have the rare combination of the right person, at the right company, in the right market, at the right time," said Siebel in his new role as Executive Chairman. "The board of directors, the executive leadership team, and I are enthusiastic about working with Stephen as he drives the growth and market penetration of C3 AI to realize its full potential."
Shares of the enterprise artificial intelligence company C3 AI fell 14% in extended trading on Wednesday following the earnings announcement. Shares had lost 52% of their value so far in 2025.
The company has faced significant challenges throughout 2025, including the restructuring of its global sales and services organization and the preliminary announcement in August of disappointing quarterly results that caused shares to plunge 26% in a single day.
C3.ai describes itself as an Enterprise AI application software company that offers an integrated platform for developing and deploying AI applications, along with industry-specific software-as-a-service solutions and generative AI offerings for enterprises. The company has partnerships with major technology firms, including Microsoft, AWS, Google Cloud, and McKinsey QuantumBlack.
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