Docebo Inc. Announces CFO Transition
Docebo (NASDAQ: DCBO; TSX: DCBO) announced that CFO Sukaran Mehta will step down from his position by February 28, 2025, to take a leadership role at a private equity portfolio company outside the learning technology sector. Brandon Farber, Senior Vice President – Finance, will serve as Interim CFO while the board conducts an internal and external search for a permanent successor.
CEO Alessio Artuffo acknowledged Mehta's five-year tenure and contributions, particularly in driving growth and improving profitability and free cash flow profiles. The company emphasized that Mehta's departure is not related to any disagreements regarding operating performance, financial results, or accounting practices.
The company maintains its previous outlook as stated in its Q3 earnings report and plans to release Q4 results before market opening on February 28, 2025.
Docebo (NASDAQ: DCBO; TSX: DCBO) ha annunciato che il CFO Sukaran Mehta si dimetterà dalla sua posizione entro il 28 febbraio 2025, per assumere un ruolo di leadership in una società di private equity al di fuori del settore della tecnologia di apprendimento. Brandon Farber, Senior Vice President – Finanza, assumerà il ruolo di CFO ad interim mentre il consiglio di amministrazione conduce una ricerca interna ed esterna per un successore permanente.
Il CEO Alessio Artuffo ha riconosciuto il mandato di cinque anni di Mehta e i suoi contributi, in particolare nella spinta alla crescita e nel miglioramento della redditività e dei profili di flusso di cassa libero. L'azienda ha sottolineato che le dimissioni di Mehta non sono correlate a disaccordi riguardanti le prestazioni operative, i risultati finanziari o le pratiche contabili.
L'azienda mantiene le sue previsioni precedenti come dichiarato nel rapporto sugli utili del terzo trimestre e prevede di rilasciare i risultati del quarto trimestre prima dell'apertura del mercato il 28 febbraio 2025.
Docebo (NASDAQ: DCBO; TSX: DCBO) anunció que el CFO Sukaran Mehta dejará su puesto antes del 28 de febrero de 2025, para asumir un papel de liderazgo en una empresa de capital privado fuera del sector de tecnología de aprendizaje. Brandon Farber, Vicepresidente Senior de Finanzas, se desempeñará como CFO interino mientras la junta lleva a cabo una búsqueda interna y externa para un sucesor permanente.
El CEO Alessio Artuffo reconoció el mandato de cinco años de Mehta y sus contribuciones, particularmente en impulsar el crecimiento y mejorar la rentabilidad y los perfiles de flujo de caja libre. La compañía enfatizó que la partida de Mehta no está relacionada con desacuerdos sobre el rendimiento operativo, resultados financieros, ni prácticas contables.
La empresa mantiene su perspectiva anterior, como se indica en su informe de ganancias del tercer trimestre, y planea publicar los resultados del cuarto trimestre antes de la apertura del mercado el 28 de febrero de 2025.
Docebo (NASDAQ: DCBO; TSX: DCBO)는 CFO Sukaran Mehta가 2025년 2월 28일까지 직위를 사임하고, 학습 기술 분야가 아닌 사모펀드 포트폴리오 회사의 리더십 역할을 맡게 될 것이라고 발표했습니다. Brandon Farber, 수석 부사장 - 재무는 이사회가 영구적인 후임자를 위한 내부 및 외부 후보 검색을 진행하는 동안 임시 CFO로서 역할을 수행할 것입니다.
CEO Alessio Artuffo는 Mehta의 5년간 재임과 기여를 인정하며, 특히 성장 촉진 및 수익성과 자유 현금 흐름 프로필 개선에서의 기여를 강조했습니다. 회사는 Mehta의 이직이 운영 성과, 재무 결과 또는 회계 관행에 대한 이견과 관련이 없다고 강조했습니다.
회사는 3분기 실적 보고서에 언급된 이전 전망을 유지하고 있으며, 2025년 2월 28일 시장 개장 전에 4분기 결과를 발표할 계획입니다.
Docebo (NASDAQ: DCBO; TSX: DCBO) a annoncé que le CFO Sukaran Mehta quittera son poste d'ici le 28 février 2025, pour prendre un rôle de direction dans une entreprise de capital-investissement en dehors du secteur de la technologie de l'apprentissage. Brandon Farber, Vice-Président Senior – Finances, agira en tant que CFO intérimaire pendant que le conseil d'administration effectuera une recherche interne et externe pour un successeur permanent.
Le CEO Alessio Artuffo a reconnu les cinq ans de mandat de Mehta et ses contributions, notamment dans la stimulation de la croissance et l'amélioration de la rentabilité ainsi que des profils de flux de trésorerie disponibles. L'entreprise a souligné que le départ de Mehta n'est pas lié à des désaccords sur les performances opérationnelles, les résultats financiers ou les pratiques comptables.
L'entreprise maintient ses prévisions précédentes telles qu'indiquées dans son rapport sur les résultats du troisième trimestre et prévoit de publier les résultats du quatrième trimestre avant l'ouverture du marché le 28 février 2025.
Docebo (NASDAQ: DCBO; TSX: DCBO) gab bekannt, dass CFO Sukaran Mehta bis zum 28. Februar 2025 von seiner Position zurücktritt, um eine Führungsrolle in einem Private-Equity-Portfolio-Unternehmen außerhalb des Bereichs Lerntechnologie zu übernehmen. Brandon Farber, Senior Vice President – Finanzen, wird als Interim CFO fungieren, während der Vorstand eine interne und externe Suche nach einem dauerhaften Nachfolger durchführt.
CEO Alessio Artuffo erkannte Mehtas fünfjährige Amtszeit und seine Beiträge an, insbesondere bei der Förderung des Wachstums und der Verbesserung der Rentabilität sowie der Profile des freien Cashflows. Das Unternehmen betonte, dass Mehtas Abgang nicht im Zusammenhang mit Meinungsverschiedenheiten hinsichtlich der Betriebsleistung, finanzieller Ergebnisse oder Rechnungslegungspraktiken steht.
Das Unternehmen hält an seiner vorherigen Prognose fest, wie im Bericht über das dritte Quartal angegeben, und plant, die Ergebnisse des vierten Quartals vor Markteröffnung am 28. Februar 2025 zu veröffentlichen.
- Company maintains previously issued Q3 financial outlook
- Orderly transition period planned with current CFO staying until February 2025
- Internal succession plan in place with SVP Finance stepping in as Interim CFO
- Departure of key executive (CFO) after 5-year tenure
Insights
The CFO transition at Docebo presents minimal operational risk given several key factors. Most notably, the company explicitly maintains its previous financial guidance, suggesting business fundamentals remain intact. The orderly transition period through February 28, 2025, coupled with an experienced interim CFO from within the organization, should ensure continuity in financial operations.
The timing aligns strategically with Q4 earnings release, allowing the departing CFO to oversee the full fiscal year close. Under Mehta's tenure, Docebo has strengthened its financial position, particularly in improving profitability and free cash flow metrics - critical indicators for a SaaS company. The emphasis on both internal and external candidate search for succession demonstrates proper governance.
The explicit statement regarding no disagreements on financial matters or accounting practices is particularly reassuring for investors, as it removes concerns about potential underlying issues. With a
Docebo's positioning as a "global leader in AI-powered learning solutions" remains unaffected by this transition. The company's focus on enterprise-wide learning solutions and AI integration continues to be strategically aligned with current market demands. The statement about "momentum" in the enterprise learning space suggests positive market traction, particularly important given the increasing emphasis on AI-driven corporate training solutions.
The departure of the CFO to a private equity role outside the learning technology sector, rather than to a competitor, preserves Docebo's competitive positioning and intellectual capital in the ed-tech space. The company's commitment to maintaining its growth trajectory while improving profitability metrics indicates a maturing business model typical of successful SaaS companies in the enterprise learning market.
For context, enterprise learning solutions are experiencing robust demand as organizations increasingly prioritize digital transformation and AI-enabled training platforms. Docebo's focus on end-to-end learning needs positions it well in this evolving market landscape.
No Change to Outlook
Alessio Artuffo, President & CEO stated, “On behalf of Docebo’s executive leadership team and board, I would like to thank Sukaran for his over five years of service and many contributions to Docebo, particularly in the areas of driving growth and improving our profitability and free cash flow profiles. He has been a trusted partner and we wish him great success in his new role.” He added, “We are excited about the momentum Docebo is generating as we further establish Docebo as a ‘global leader in AI-powered learning solutions’ used by enterprises for their end-to-end learning needs. Our capital structure is strong, we have an excellent foundation upon which to grow and we are very excited about the opportunity ahead.”
Mr. Mehta commented, “I want to thank Alessio and the board for the opportunity to play a role in Docebo becoming a global learning industry leader. I am incredibly proud of all that has been accomplished and am confident that the team is positioned for even greater success in the days ahead.”
Mr. Mehta’s departure is not due to any disagreement with the Company or the board regarding its operating performance, financial results, accounting principles, practices or financial statement disclosures. Additionally, there are no changes to Docebo’s outlook as previously issued in its Q3 earnings report on November 8, 2024. Docebo expects to report its Q4 results before the market opens on February 28, 2025.
Forward-Looking Information
This news release may contain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws, including, without limitation, statements regarding the CFO transition, the Company’s positioning for future growth and success and the Company’s expectations regarding its Q4 results.
This forward-looking information is based on our opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, those factors discussed in greater detail under the “Risk Factors” section in our Annual Information Form, available free of charge under the Company’s profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov, and should be considered carefully by prospective investors.
If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents our expectations as of the date specified herein and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward- looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.
About Docebo
Docebo is redefining the way enterprises leverage technology to create and manage content, deliver training, and measure the business impact of their learning programs. With Docebo’s end-to-end learning platform, organizations worldwide are equipped to deliver scaled, personalized learning across all their audiences and use cases, driving growth and powering their business.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250102865921/en/
For further information, please contact:
Mike McCarthy
Vice President – Investor Relations
(214) 830-0641
mike.mccarthy@docebo.com
Source: Docebo Inc.
FAQ
When is Docebo (DCBO) CFO Sukaran Mehta leaving the company?
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Why is Sukaran Mehta leaving his position as CFO of Docebo (DCBO)?
