Olo Announces Appointment of David Cancel to Board of Directors and Planned Departure of James D. Robinson IV

Rhea-AI Summary

Olo (NYSE: OLO) has appointed David Cancel to its Board of Directors effective March 25, 2022. Cancel, co-founder and CEO of Drift, brings over 25 years of experience in enterprise SaaS and product innovation. His appointment is expected to enhance Olo's strategic product development amidst the restaurant industry's digital transformation. Concurrently, James D. Robinson IV, a board member since March 2008, is stepping down, having contributed significantly to Olo's growth and public transition.

Positive

• David Cancel's appointment is expected to strengthen Olo's leadership in product development.
• Cancel's extensive experience in SaaS could drive innovation within the company's offerings.

Negative

• James D. Robinson IV's departure may lead to concerns over board continuity and experience.

NEW YORK--(BUSINESS WIRE)-- Olo (NYSE: OLO), a leading on-demand e-commerce platform powering the restaurant industry’s digital transformation, today announced the appointment of David Cancel, co-founder and CEO of Drift, to its Board of Directors, effective as of March 25, 2022.

“We are incredibly pleased to welcome David to the Board of Directors,” said Noah Glass, Founder & CEO of Olo. “David’s deep experience in enterprise SaaS product innovation and his operational experience in executive leadership make him a great addition.”

Mr. Cancel is best known for creating hypergrowth products and product teams. Prior to co-founding Drift, he served as the Chief Product Officer at HubSpot and has spent much of his 25+ year career as a serial entrepreneur, founding multiple technology companies including Performable, Ghostery, and Compete. Mr. Cancel is also a podcast host, advisor, guest lecturer, and author on topics relevant to scaling and growing technology companies. Mr. Cancel attended Queens College of The City University of New York. Additionally, Mr. Cancel is a member of and proud advocate for the LatinX technology community.

“I am excited to advise Olo as a member of their Board and use my experience in the tech sector to support Olo’s strategic product development to serve the restaurant industry’s rapid transformation,” said Mr. Cancel.

The company also announced today the planned departure of James D. Robinson IV, Founder and General Partner of RRE Ventures, an Olo investor, from its Board of Directors, effective as of March 25, 2022. Mr. Robinson has served as a member of Olo’s Board of Directors since March 2008.

“I want to thank Jim for his valuable contributions to Olo’s success, including playing an important role in our growth and our transition to a public company. My fellow board members and I are grateful for his mentorship and friendship over the years,” said Mr. Glass.

“I am proud of Olo’s accomplishments during my tenure on the Board of Directors. I look forward to watching Olo’s trajectory and continue to be confident in its mission and future success,” said Mr. Robinson.

About Olo

Olo is a leading on-demand commerce platform powering the restaurant industry’s digital transformation. Millions of orders per day run on Olo’s enterprise SaaS engine, enabling brands to maximize the convergence of digital and brick-and-mortar operations. The Olo platform provides the infrastructure to capture demand and manage consumer orders from every channel. With integrations to over 200 technology partners, Olo customers can build digital experiences with the largest and most flexible restaurant commerce ecosystem on the market. Over 500 restaurant brands use Olo to grow digital sales, maximize profitability, and preserve direct consumer relationships. Learn more at olo.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220329005327/en/

Media Contact: olo@icrinc.com

Investor Relations: investorrelations@olo.com

Source: Olo

FAQ

Who is David Cancel in relation to Olo?

David Cancel is the newly appointed member of Olo's Board of Directors, effective March 25, 2022.

What is the significance of David Cancel joining Olo's Board?

Cancel's expertise in enterprise SaaS and product innovation is anticipated to enhance Olo's strategic direction.

Why is James D. Robinson IV leaving Olo's Board?

James D. Robinson IV is stepping down from the Board after 14 years, contributing to Olo's growth and public transition during his tenure.

When did these board changes at Olo take effect?

The board changes, including David Cancel's appointment and James Robinson's departure, took effect on March 25, 2022.