06:24:34 EDT Tue 30 Apr 2024
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Lightspeed Commerce Inc
Symbol LSPD
Shares Issued 153,248,866
Close 2024-02-16 C$ 19.32
Market Cap C$ 2,960,768,091
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Globe says Lightspeed founder Dasilva returns as CEO

2024-02-16 08:30 ET - In the News

The Globe and Mail reports in its Friday edition that Lightspeed Commerce founder Dax Dasilva has returned to the chief executive officer post in a management shakeup prompted by negative investor reaction to the company's latest financial update. The Globe's Sean Silcoff writes that Mr. Dasilva, 47, is replacing Jean Paul Chauvet, who served as president for 11 years and succeeded Mr. Dasilva at the helm of Lightspeed two years ago. Independent director Patrick Pichette will replace Mr. Dasilva as chairman. Also leaving, for personal reasons, is chief product and technology officer Ryan Tabone, who will be replaced by John Shapiro, Lightspeed's senior vice-president of retail technology. Lightspeed said Mr. Dasilva would become the interim CEO, but that period is undefined, and it could be a more permanent move. Mr. Dasilva said, "I think it's an amazing idea for me to come back." He had left to pursue other interests such as funding conservation projects and documentaries -- one of which won him an Emmy -- and completing his university degree. Returning as CEO "wasn't my plan, but this feels so right," he said. "Lightspeed is my biggest priority. I'm fully energized. I love this company."

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