Vertex, Inc. (NASDAQ: VERX) has announced a significant leadership transition as President and Chief Executive Officer David DeStefano prepares to retire on November 10, 2025. After more than two decades with the company, DeStefano will hand over the reins to Christopher Young, a seasoned technology executive, who has been appointed as the new President and CEO. This change comes as part of a robust succession process facilitated by the Board of Directors, in collaboration with executive search firm Spencer Stuart.
DeStefano, who joined Vertex 26 years ago, has been instrumental in transforming the company from a private software provider into a publicly traded leader in tax automation. Under his guidance, Vertex expanded its cloud-based offerings, executed multiple strategic acquisitions, and achieved over $600 million in annual recurring revenue by 2024. In his new role as non-executive chairperson of the Board, DeStefano expressed confidence in the company’s future.
“Vertex has an exceptionally strong foundation with a seasoned leadership team in place,” he stated. “With durable demand for our solutions and a clear runway for long-term growth, now is the right time to execute our succession plan and welcome Christopher as our new CEO.”
Young brings an impressive background with nearly three decades of experience in enterprise technology. Most recently, he served as Executive Vice President of Business Development at Microsoft, where he led corporate strategy and business development initiatives. Prior to that, he was the CEO of McAfee, overseeing its separation from Intel and its transition to a cloud-based cybersecurity platform. His extensive career also includes senior leadership roles at Cisco, VMware, AOL, and RSA Security. In addition, Young serves on the boards of Qualcomm and American Express.
“It is an honor to be selected to serve as Vertex’s next CEO,” Young remarked. “With the rapid rise of generative AI, we have an extraordinary opportunity to innovate how tax and compliance are managed, bringing together technology and human expertise to deliver even greater value and efficiency for customers globally.”
The transition has garnered praise from Lead Independent Director Ric Andersen, who acknowledged DeStefano’s impactful leadership. “David has made a positive and lasting impact on Vertex and our people,” Andersen said. He expressed confidence in Young’s ability to lead the company into its next phase of growth.
In conjunction with the leadership announcement, Vertex also released preliminary financial results for the third quarter of 2025. The company reported expected revenue of approximately $192 million, an increase from $170.4 million in the previous year’s quarter. Adjusted EBITDA is projected to reach about $43 million, compared to $38.6 million in the same period last year.
This leadership change marks a pivotal moment for Vertex as it continues to solidify its position as a global leader in tax technology. With Young at the helm, the company is poised for further innovation and expansion.
