Bitwarden Removes 'Always Free' Tag and Revises Core Values Amid Leadership Shake-Up

Bitwarden, the company behind a widely used free password manager and other security tools, is undergoing subtle but significant changes. In February, longtime CEO Michael Crandell transitioned to an advisory role without an official announcement from the company. He was succeeded by Michael Sullivan, former CEO of Acquia and Insightsoftware, who highlights his expertise in mergers and acquisitions, including collaborations with major private equity firms like Hg, Vista Equity Partners, and TA Associates.

Additionally, Bitwarden’s CFO Stephen Morrison, who joined the company in 2019 alongside Crandell, left in April and was replaced by Michael Shenkman, former CEO of InVision. Despite these leadership shifts, Bitwarden’s founder and CTO, Kyle Spearrin—who launched the password manager as a hobby project in 2015—remains with the company.

Website Changes and Revised Core Values

Bitwarden has also made subtle yet notable adjustments to its website. As of mid-April, the phrase “Always free” no longer appears on the personal password manager plan page, though the free tier remains available elsewhere on the site. Previously, the “Pick a plan” section explicitly mentioned the free option.

Further changes include updates to Bitwarden’s core values, which were previously defined by the acronym GRIT—standing for Gratitude, Responsibility, Inclusion, and Transparency. After May 4, the acronym was revised to Gratitude, Responsibility, Innovation, and Trust. While “inclusive environment” still appears under Gratitude and “transparency” is referenced under Trust, these values are no longer central to the company’s messaging.

Leadership and Financial Shifts

These changes follow Bitwarden’s decision to double the price of its Premium password manager plan from $10 to $20 in February. The company disclosed the price increase within a blog post about feature updates and later notified customers via reminder emails sent 15 days before each renewal. Neither the leadership changes nor the revised values were highlighted in Bitwarden’s official communications, and the company has not issued a news release regarding these updates.

Bitwarden has not responded to requests for comment.

New CEO’s Background

On his LinkedIn profile, Sullivan describes himself as having “robust experience in all facets of mergers and acquisitions, including direct experience with leading PE firms.” His prior roles include overseeing a $1 billion acquisition of Acquia by Vista Equity Partners in 2019 and a $1 billion investment by Hg into Insightsoftware in 2021. While Sullivan actively shared updates from Insightsoftware on LinkedIn, he has not yet commented on his new position at Bitwarden. Attempts to reach Crandell, Bitwarden’s former CEO, have also gone unanswered.

Founder’s Perspective

In a 2024 interview with Fast Company, Bitwarden’s founder, Kyle Spearrin, reflected on the company’s origins, noting he initially developed the password manager as a hobby to learn mobile development.