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Vertex, Inc. (NASDAQ:VERX) announced on Tuesday that president and CEO David DeStefano will step down from his roles effective November 10, 2025.
Following an extensive search assisted by an independent firm, the company’s board selected Christopher Young to take over as president and CEO and join the board at that time.
DeStefano will continue to serve as the board’s non-executive chairperson.
Christopher Young is a veteran executive, investor, and board director with nearly three decades of leadership experience in enterprise technology.
Most recently, he served as executive VP of Business Development at Microsoft Corporation (NASDAQ:MSFT), reporting directly to the company’s chairman and CEO.
David has played a key role in Vertex’s success over his 26-year tenure, leading its IPO, expanding cloud offerings, and driving strategic acquisitions.
Under his leadership, Vertex strengthened its position in indirect tax solutions, surpassed $600 million in annual recurring revenue in 2024, and delivered consistent, profitable growth.
David DeStefano, president, CEO, and chairperson, said, “Underpinned by durable demand for our solutions and a clear runway for long-term growth, Vertex has an exceptionally strong foundation with a seasoned leadership team in place. The company is well positioned for the next phase of its evolution, making now the right time to execute our succession plan and welcome Christopher as our new CEO.”
“It is an honor to be selected to serve as Vertex’s next CEO, and I could not be more excited to take on this new role. Vertex has a solid product foundation, deep industry expertise, and a strong customer base. With the rapid rise of generative AI, we have an extraordinary opportunity to innovate on how tax and compliance are managed – bringing together technology and human expertise to deliver even greater value and efficiency for customers globally,” said Christopher Young.
With Christopher’s appointment, the Vertex Board will consist of nine directors, including seven independent members.
The company also released preliminary results for the third quarter of 2025, expecting total revenue of about $192 million, up from $170.4 million a year earlier. Adjusted EBITDA is projected at roughly $43 million, compared with $38.6 million in the prior-year period.
Price Action: VERX shares were trading higher by 2.01% to $26.17 at last check Tuesday.
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