CFO Brandon Nussey will become Lightspeed’s first chief operating officer. Nussy will be replaced by executive vice-president of finance Asha Bakshani. The Montreal-based fintech also hired Rani Hammond, most recently an executive at health-care company GenesisCare, to be its chief people officer. (The Logic)
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CFO Brandon Nussey will become Lightspeed’s first chief operating officer. Nussy will be replaced by executive vice-president of finance Asha Bakshani. The Montreal-based fintech also hired Rani Hammond, most recently an executive at health-care company GenesisCare, to be its chief people officer. (The Logic)
Talking point: The executive shakeup comes just over a month after Lightspeed’s longtime CEO, Dax Dasilva, stepped down, with former president JP Chauvet taking his spot. At the time of the transition, Chauvet outlined a turnaround plan for the company, whose shares came under pressure after a September report from the U.S. short seller Spruce Point. The investment firm alleged that Lightspeed wasn’t transparent with investors about key financial metrics. Nussey, Lightspeed’s CFO since 2018, was one of the executives at the centre of Spruce Point’s report, which Lightspeed has called inaccurate and misleading. The company said Thursday that in his new position, Nussey will focus on getting Lightspeed to profitability—one of its top priorities, Chauvet said in its last earnings call.
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