Vertex, Inc. (NASDAQ: VERX) has announced a significant leadership transition as President and Chief Executive Officer David DeStefano plans to retire on November 10, 2025. After more than two decades with the company, DeStefano will step down, and the Board of Directors has appointed Christopher Young, an experienced technology executive, as his successor. Young will also join the Vertex Board as part of this transition.
DeStefano will assume the role of non-executive chairperson of the Board following his retirement. This leadership change is the result of a thorough succession process conducted by the Board with assistance from the executive search firm Spencer Stuart. DeStefano emphasized the timing of this transition, stating, “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.”
DeStefano joined Vertex 26 years ago, significantly transforming the company from a privately held software provider into a publicly traded leader in tax automation. Under his guidance, Vertex expanded its cloud-based portfolio, pursued multiple strategic acquisitions, and achieved over $600 million in annual recurring revenue in 2024.
Young brings nearly three decades of experience in enterprise technology to his new role. 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, Young was the CEO of McAfee, successfully guiding the company through its separation from Intel and transitioning it to a cloud-based cybersecurity platform. His career also includes senior leadership roles at Cisco, VMware, AOL, and RSA Security. He currently holds positions 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. He highlighted the company’s strong product foundation and the opportunities presented by the rapid rise of generative AI, stating, “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 commended DeStefano’s impact and the Board’s selection process, saying, “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 expressed confidence in Young’s capabilities, adding, “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.”
In addition to the leadership announcement, Vertex 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 same period the previous year. Adjusted EBITDA is projected to reach about $43 million, compared to $38.6 million in the prior-year quarter.
This leadership transition marks a pivotal moment for Vertex as it aims to strengthen its position as a global leader in tax technology while preparing for a new phase of innovation and growth under Young’s leadership. The changes come as Vertex continues to adapt to market demands and technological advancements, ensuring its offerings remain relevant in a rapidly evolving landscape.
