On Monday of this past week Michael Chasen announced that he is leaving Blackboard, the company he co-founded in 1997 and has led as CEO since 2001. Blackboard simultaneously announced the appointment of Jay Bhatt, a software industry executive as the immediate replacement.
As Rip Empson has noted in TechCrunch, this is the end of an era. I agree with Josh Kim and Ray Henderson in calling out Michael Chasen’s role as an industry pioneer, and I would argue that Chasen was the leading force in creating the enterprise-level, mission-critical educational technology market. Henderson also points out that Chasen played a leading role in developing a sustainable revenue model that enabled much of the transformation seen over the past decade.
Empson described in his article that this are two sides of this latest story from Blackboard.
This week, in a letter addressed to “The Education Community,” Michael Chasen stepped down as the CEO of edtech software giant, Blackboard. In a way, it’s the end of an era. Whether or not it was an “era to remember” remains to be seen.
Why is this significant? Because of what Blackboard has come to represent — both for good and for ill. On the one hand, the company became one of the biggest success stories in the education space, bringing mainstream consumer and investor attention (and scale) to an industry that previously had little. But that’s only one part of Blackboard’s story.
What should we expect from the future Blackboard? I believe the best way to understand future changes at Blackboard is to view the CEO transition as the latest move in a corporate turnaround – and an unsurprising move .

