Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD) reappointed Founder Dax Dasilva as interim CEO, with immediate effect following the departure of JP Chauvet. Dasilva, previously Lightspeed’s Executive Chair and CEO from its inception in 2005 until February 2022, returns to lead the company during its next phase of growth.
In tandem with Dasilva’s reinstatement, Lightspeed announced key leadership adjustments. John Shapiro, previously SVP of Retail Technology, assumes the role of Chief Product and Technology Officer, succeeding Ryan Tabone, who is set to depart in April 2024. Additionally, Patrick Pichette, the company’s Lead Independent Director, transitions to the position of interim Chair of the Board, signaling Lightspeed’s commitment to strategic succession planning.
Patrick Pichette, Lead Independent Director of the Board, praised Dasilva’s visionary leadership and track record, expressing confidence in his ability to steer Lightspeed to continued success. Alongside Dasilva’s appointment, Lightspeed announced leadership changes, including the promotion of John Shapiro to Chief Product and Technology Officer and Pichette’s transition to interim Chair of the Board.
Expressing gratitude for Chauvet’s contributions, Dasilva emphasized his commitment to driving profitable growth and operational efficiency. He highlighted the recent third-quarter 2024 financial results, showcasing impressive year-over-year revenue growth, improved net loss, and adjusted EBITDA.
Lightspeed’s one-stop commerce platform, founded in Montréal, Canada, in 2005, serves retail, hospitality, and golf businesses across the globe. The company is present in over 100 countries. The quarter’s results showcased robust growth, with total revenue reaching $239.7 million, marking a remarkable 27% year-over-year increase.
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