Shares of C3 AI dropped 14% in after-hours trading following the release of fiscal first-quarter results and the appointment of Stephen Ehikian as the new CEO. Revenue for the quarter was $70.3 million, down from $87.2 million the previous year, with a GAAP net loss of 86 cents per share.

Stephen Ehikian, a tech executive with experience in building companies acquired by Salesforce, took on the role of CEO on September 1st. The move came after former CEO Thomas Siebel announced his diagnosis of an autoimmune disease earlier this year, resulting in significant visual impairment for him.

C3 AI initiated a CEO search in July after Siebel’s health issues surfaced. The company experienced a challenging period, with shares plummeting in August due to disappointing financial results and a restructuring of its global sales and services organization. Siebel attributed the poor performance to the disruptive impact of the reorganization and his health problems.

Read more at CNBC: C3 AI reports declining revenue, announces new CEO to replace Siebel