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Lightspeed Announces the Return of Dax Dasilva as CEO

Lightspeed Commerce Inc. announced today the reappointment of Founder Dax Dasilva as interim CEO. Dasilva most recently served as Lightspeed’s Executive Chair, and previous to this, served as the Company’s CEO from its inception in 2005 until February 2022. This appointment by Lightspeed’s Board, effective immediately, comes as JP Chauvet is stepping down. “I thank JP for his contributions, service and leadership at Lightspeed over the past eleven years,” said Dasilva.

“I founded this company, and am delighted to be named interim CEO to lead this next stage of profitable growth,” Dasilva continued. “The achievements of our last quarter serve as a testament to our potential, and we must continue to build upon this momentum. My vision is clear: cultivate a business model that fosters growth, prioritizes profitability and unlocks operational efficiencies to deliver ongoing value to our shareholders.”

Dasilva rejoins Lightspeed in the interim CEO role after the Company announced its third-quarter 2024 financial results last Thursday, February 8, 2024. Results for the quarter included total revenue of $239.7 million, which grew 27% year-over-year, and improved Net loss and Adjusted EBITDA¹ ($40.2) million and $3.6 million respectively,  surpassing previously established outlooks.

“On behalf of the Board, we welcome back Dax Dasilva as Lightspeed’s interim CEO,” said Patrick Pichette, Lead Independent Director of the Board. “His exceptional track record as the founder of this company speaks volumes about his visionary leadership and dedication to success over the years. Under his guidance, we have witnessed remarkable growth and innovation, propelling Lightspeed to the category leader it is today. I am confident that he will continue to steer Lightspeed towards new heights of success.”

Leadership Changes

Along with Dasilva’s appointment as interim CEO, Lightspeed announced several changes to the leadership team and the Board. John Shapiro, SVP of Retail Technology has been promoted to Chief Product and Technology Officer, replacing Ryan Tabone who will be departing the Company in April 2024. In addition, Patrick Pichette, currently the company’s Lead Independent Director, will move into the role of interim Chair of the Board. These leadership changes are a reflection  of the Company’s ongoing succession planning.

For more information, please read the press release here.

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