Louis Têtu to serve as full-time Executive
Chair Laurent Simoneau to be promoted to CEO; John Grosshans to COO
MONTREAL and SAN
FRANCISCO, Feb. 10, 2025 /CNW/ - Coveo (TSX: CVO),
the market leader in AI-Relevance, delivering AI search,
generative, and business-aware relevance at every
point-of-experience, announced today that in anticipation of
Coveo's continued growth, scale and strategic opportunities, the
company is making adjustments to the responsibilities of its senior
executive team.
Effective with the company's new fiscal year on April 1, 2025, Louis Têtu, our Chairman and CEO,
will move to a full time Executive Chair role where he will remain
focused on Coveo's corporate development, strategy, key customers
and growth opportunities globally. Laurent
Simoneau, the company's Founder, President and CTO, will
broaden his duties as President to serve as Coveo's CEO. Mr.
Simoneau will receive the added operational support of John Grosshans, who will be promoted from his
role as Chief Revenue Officer to become the company's Chief
Operating Officer, overseeing all revenue, customer and partner
operations for the business. Lastly, Marc
Sanfacon, one of the company's co-founders and current SVP,
Technology, will be promoted to the role of Chief Technology
Officer.
"My commitment to the company is unwavering" said Louis Têtu.
"Given our momentum, and the significant opportunity we see ahead,
the timing is right to make these adjustments and broaden the
footprint of our senior leadership. As full time Executive Chair I
will focus my energy on industry and market opportunities, to
continue to build our relationships with customers and Coveo
partners, and to continue to serve as a close mentor and coach for
our next generation of leaders", he added.
"Laurent, who co-founded Coveo approximately 20 years ago, is
the right person to take on the CEO role. Laurent has always been
intimately involved in developing our strategy, driving valuable
and distinguished innovation, and making sure that we always
maintain a focus on customer outcomes. Laurent's decisive
leadership, deep experience across the entire organization and
value chain of our business, and intimate relationship with
customers, uniquely positions him to take on the CEO role", also
added Mr. Têtu.
"I am honored and excited to take on this role, continuing our
growth journey with Louis and the executive team" said Mr.
Simoneau, who was previously CEO from 2004 to 2011. "Our market is
at an inflection point, and companies like Coveo that are proven in
delivering meaningful customer outcomes with applied AI are
emerging as leaders. We believe we are well positioned to
capitalize on the significant opportunity ahead."
"Further, I'm grateful to be complimented with the strong
operational leadership of John
Grosshans. Since John has been with us, he has transformed
our revenue growth organization and has embraced our customer-first
values, which has materialized into meaningful increases in our
bookings performance and customer metrics over the past two
quarters. As COO, John will now bring his leadership to all
revenue, customer and partner operations of the business, which I'm
confident will continue to serve us well in the years ahead. In
addition, I am pleased that Marc Sanfaçon will step into the role
of CTO. With Marc's proven leadership, deep technology expertise
and tried and tested operational excellence in R&D, Coveo's
technology is ideally positioned for continued innovation", Mr.
Simoneau also added.
These changes are made pursuant to the board's and the company's
long term leadership planning activities and with the primary goal
of ensuring Coveo remains sharply focused on the growth
opportunities ahead in a dynamic market while ensuring excellent
operational execution. A full description of the Executive Chair's
and CEO's responsibilities will be made available in the Governance
section of Coveo's Investor Relations website at ir.coveo.com by
April 1, 2025.
About Coveo
Coveo brings superior AI-Relevance to every point-of-experience,
transforming how enterprises connect with their customers and
employees to maximize business outcomes.
Relevance is about moving from persona to person, the degree to
which the enterprise-wide content, products, recommendations, and
advice presented to a person online aligns easily with their
context, needs, preferences, behavior and intent, setting the
competitive experience gold standard. Every person's journey is
unique, and only AI can solve the complexity of tailoring
experiences across massive, diverse audiences and large volumes and
variety of content and products.
Our Coveo AI-Relevance Platform™ ️enables enterprises
to deliver hyper-personalization at every point-of-experience,
unifying all their data securely, with the highest level of
contextual and prescriptive accuracy while simultaneously
optimizing business outcomes.
Coveo brings AI-Relevance to the digital experiences of many of
the world's premier and most innovative brands, serving millions of
people across billions of interactions.
What we believe is bold: Digital is table stakes, Relevance is
not. It's the only way to win in the digital age.
The Coveo AI-Relevance Platform™ is ISO 27001 and ISO
27018 certified, SOC2 compliant, HIPAA compatible, with a 99.999%
SLA available. We are a Salesforce ISV Partner, an SAP
EndorsedⓇ App, an Adobe Gold Partner, MACH Alliance
member, Optimizely Partner, Shopify Partner, and a Genesys
AppFoundryⓇ ISV Partner.
Coveo is a trademark of Coveo Solutions Inc.
Stay up to date on the latest Coveo news and content by
subscribing to the Coveo blog, and following Coveo on LinkedIn and
YouTube.
Forward-Looking Information
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
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phrases such as "may", "would", "should", "could", "might", "will",
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"strategy", "scheduled", "outlook", "forecast", "projection", or
"prospect", the negative of these terms and similar terminology,
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forward-looking information contains these terms and phrases. In
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projections, or other characterizations of future events or
circumstances contain forward-looking information. Statements
containing forward-looking information are not historical facts but
instead represent management's expectations, estimates, and
projections regarding future events or circumstances.
Forward-looking information is necessarily based on a number of
opinions, estimates, and assumptions that we considered appropriate
and reasonable as of the date such statements are made. Although
the forward-looking information contained herein is based upon what
we believe are reasonable assumptions, actual results may vary from
the forward-looking information contained herein. Moreover,
forward-looking information is subject to known and unknown risks,
uncertainties, and other factors, many of which are beyond our
control, that may cause the actual results, level of activity,
performance, or achievements to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to macro-economic uncertainties and the risk
factors described under "Risk Factors" in the Company's most
recently filed Annual Information Form available under our profile
on SEDAR+ at www.sedarplus.ca. There can be no assurance that such
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, prospective investors
should not place undue reliance on forward-looking information,
which speaks only as of the date made.
Moreover, we operate in a very competitive and rapidly changing
environment. Although we have attempted to identify important risk
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
risk factors not presently known to us or that we presently believe
are not material that could also cause actual results or future
events to differ materially from those expressed in such
forward-looking information.
Except as required by law, we do not assume any obligation to
update or revise any forward-looking information, whether as a
result of new information, future events, or otherwise, after the
date on which the statements are made or to reflect the occurrence
of unanticipated events.
SOURCE Coveo Solutions Inc.