'You Can't Keep A Wild Tiger In A Cage,' Benioff Says As Salesforce CEO Bromance Ends In 'Shock To The System'

Bret Taylor is on his way out as co-CEO of Salesforce Inc (NYSE: CRM) one year after he took the job. Co-CEO Marc Benioff described it as a "gut punch" Wednesday night on CNBC's "Mad Money."

What To Know: Taylor is set to step down as vice chair and co-CEO of Salesforce in January to return to his "entrepreneurial roots." Benioff will remain in his role as chair and transition from co-CEO to the sole chief of the company at that time.

"You can't keep a wild tiger in a cage," Benioff said Wednesday night following the management shake up. 

"I love him like a brother. I'll love him forever. He's just an amazing person. I've been just so thrilled to work with him for the last seven years."

Taylor's departure comes as a surprise to shareholders as well. The management change appears to be largely responsible for the 10% drop in shares on Thursday.

Wedbush analyst Dan Ives called it a "shock to the system" in the wake of the customer relationship management company's quarterly results. 

Check This Out: Salesforce Gets Price Targets Cut By Analysts After Q3 Results, Shares Plunge

"Now it’s back to Benioff to solely lead the software stalwart into its next phase of growth and margin improvement," Ives said via tweet.

Benioff told CNBC that Salesforce's operating margins are at record levels of 22.7%.

"So that gives me continued confidence in our focus in increasing operating margin, which is very important to me personally, and also increasing revenue and continuing to deliver for our customers." 

CRM Price Action: Salesforce has a 52-week high of $270.57 and a 52-week low of $136.04.

The stock was down 10.4% at $143.61 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Salesforce.