KING OF PRUSSIA, PA — Vertex, Inc. (NASDAQ: VERX) announced that President and Chief Executive Officer David DeStefano will retire from his role on November 10, 2025, after more than two decades with the company. The Board of Directors has appointed Christopher Young, a veteran technology executive, to succeed him as President and CEO and to join the Vertex Board. DeStefano will transition to the role of non-executive chairperson of the Board.
The leadership change follows a comprehensive succession process led by the Board with assistance from executive search firm Spencer Stuart.
“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,” said DeStefano. “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.”
DeStefano joined Vertex 26 years ago and played a central role in transforming the company from a privately held software provider into a publicly traded leader in tax automation. Under his leadership, Vertex expanded its cloud-based portfolio, pursued multiple strategic acquisitions, and surpassed $600 million in annual recurring revenue in 2024.
“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,” DeStefano added.
Young brings nearly three decades of experience in enterprise technology. He most recently served as Executive Vice President of Business Development at Microsoft, where he led corporate strategy, venture investing, and business development initiatives. He previously served as CEO of McAfee, guiding its separation from Intel and its transition to a cloud-based cybersecurity platform. Earlier in his career, Young held senior leadership roles at Cisco, VMware, AOL, and RSA Security. He currently serves on the boards of Qualcomm and American Express.
“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,” said Young. “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 how tax and compliance are managed—bringing together technology and human expertise to deliver even greater value and efficiency for customers globally.”
Lead Independent Director Ric Andersen praised DeStefano’s impact and the Board’s selection process. “David has made a positive and lasting impact on Vertex and our people. On behalf of the entire Board, we thank him for his remarkable service,” Andersen said. “With meaningful enterprise software experience and a proven track record, we are confident Christopher is the right leader to usher in our next phase of growth.”
Preliminary Financial Results
Vertex also released preliminary third-quarter 2025 financial results, reporting expected revenue of approximately $192 million, up from $170.4 million in the same period last year. Adjusted EBITDA is projected to reach about $43 million, compared to $38.6 million in the prior-year quarter.
The transition marks a pivotal moment for Vertex as it continues to strengthen its position as a global leader in tax technology while preparing for its next phase of innovation and growth under new leadership.
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