Salesforce co-CEO Keith Block steps down

Keith Block is stepping down as co-CEO of Salesforce, leaving co-founder Marc Benioff as the sole chief executive of the company once again.

The big picture: Block, who joined the company in 2013 from Oracle, was promoted to co-CEO less than two years ago to give Benioff more time to focus on other interests. Block will stay on as an adviser to Benioff, the company said.

Meanwhile: Salesforce separately agreed Tuesday to buy Vlocity, which makes cloud-based apps that run on Salesforce's signature platform, for $1.33 billion.