Vertex has announced the retirement of President and CEO David DeStefano after more than 26 years with the company. The Board of Directors has appointed Christopher Young as his successor, following a comprehensive search. Upon assuming the role, Young will also join the Vertex Board, while DeStefano will transition to non-executive Chairperson.
During his tenure, DeStefano guided Vertex through its public offering, global expansion, and a period of consistent revenue growth, with the company surpassing $600 million in annual recurring revenue in 2024. DeStefano noted, “I’ve been deeply invested in Vertex’s growth and success for 26 years, through our IPO and the expansion of our partner ecosystem, and I couldn’t be more proud of the way in which the Vertex team has enabled thousands of customers around the world to grow with our leading portfolio of products and solutions.”
Young brings nearly three decades of leadership in enterprise technology, most recently serving as Executive Vice President of Business Development at Microsoft and previously as CEO of McAfee. DeStefano added, “Christopher is a proven leader with a strong track record of scaling businesses, and I am confident he is the best person to build on the momentum underway at Vertex.”
Expressing enthusiasm for his new role, he said, “With the rapid rise of generative AI, we have an extraordinary opportunity to innovate how tax and compliance are managed.” Lead Independent Director Ric Andersen added that the Board is confident Young will drive the next phase of Vertex’s growth and capitalize on expanding market opportunities.