Lightspeed Promotes JD St-Martin to President
Lightspeed Commerce Inc. (NYSE: LSPD) has announced the promotion of JD St-Martin to President, expanding his role from Chief Revenue Officer to oversee the strategic direction and performance across all verticals. CEO JP Chauvet praised St-Martin's leadership and contributions to company growth. St-Martin, who joined Lightspeed in 2019, emphasized the critical role of technology for retailers facing challenges like staffing shortages and inflation. Additionally, Chief Business Officer Michael DeSimone will depart at the end of 2022.
- JD St-Martin's promotion may enhance leadership effectiveness and strategic alignment across all business verticals.
- St-Martin's experience and leadership are expected to drive growth during challenging market conditions.
- The departure of Michael DeSimone could lead to transitional challenges as the team adjusts.
- St-Martin's new expansive role may lead to increased accountability and pressure in performance metrics.
MONTRÉAL, Oct. 21, 2022 /PRNewswire/ - Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD), the one-stop commerce platform for merchants around the world to simplify, scale, and create exceptional customer experiences, today announced the promotion of JD St-Martin to the role of President.
In this role, St-Martin will expand beyond his responsibilities as Chief Revenue Officer, now directly accountable for the strategic direction and overall performance for all of Lightspeed's verticals.
"JD has been an incredible leader at Lightspeed since he joined us more than three years ago and an instrumental player in driving our growth at a critical time," said JP Chauvet, CEO, Lightspeed. "These changes will help to further streamline our executive team, placing the accountability for the performance of each vertical with the same individual who is responsible for our go-to-market and customer success. I look forward to continuing to partner with JD in this expanded role as we hone our focus on profitable growth across our key industries."
"The role Lightspeed plays in the success of customers in retail and hospitality has never been more critical," said St-Martin. "As retailers and restaurateurs navigate staffing shortages, supply chain delays and inflation, technology will help them find new efficiencies and insights into their business to navigate these uncertain times. Business owners must recognize that now is the time to innovate and embrace change. It is a privilege to help our customers navigate and thrive, whatever the situation they are facing."
St-Martin joined Lightspeed in May 2019 through the acquisition of Chronogolf, a SaaS company he co-founded in 2013, and in July 2020 he became Lightspeed's Senior Vice President of Global Sales. Prior to founding Chronogolf, St-Martin worked in venture capital and private equity at Teralys Capital in Montreal and GE Equity in London, UK.
Michael DeSimone, Lightspeed's Chief Business Officer, will be departing at the end of 2022. DeSimone joined Lightspeed via acquisition in 2020 as the CEO of ShopKeep and led the successful integration of several Lightspeed acquired companies during his tenure with the company.
Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale and provide exceptional customer experiences. Our cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions and connection to supplier networks.
Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange (NYSE: LSPD) and Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in over 100 countries.
For more information, see www.lightspeedhq.com
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This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws ("forward-looking statements"), including information regarding Lightspeed's leadership team and product offerings. Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed's management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, under "Risk Factors" in our most recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under our profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed's subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Lightspeed Commerce Inc.
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