Heaps took over Inc. last year. in the fourth quarter, completing a private acquisition.
An investor relations software company based in Toronto. Q4 Inc. appointed Lewis Black as CEO and appointed founder Darrell Heaps as chairman and chief strategy officer (CSO).
The shake-up followed Heaps' leadership of the company through private acquisition with Sumeru Equity Partners last year. Sumeru acquired all of the issued and outstanding shares of Q4 Inc., except those held by “recurring shareholders.” one of which there was Heaps. The company has since added a new Financial Director, Marketing Director, revenue directorand CEO.
Q4 Inc. did not explain the motivation for the leadership change, but said it was “designed to improve execution” and strengthen its position as a “category leader in investor relations operations.”
“We are ready to act with even greater speed, discipline and efficiency.”
Darrell Heaps
founder of Q4 Inc.
Black has experience as CFO of SolarWinds and CEO of Actian, as well as leadership positions at companies such as Vonage's Nexmo division and Citrix. Since April 2023, Black has also been a strategic advisor to Q4 Inc.'s parent company, Sumeru, he said. LinkedIn Profile.
Black will bring the “right expertise” to the fourth quarter, Heaps told BetaKit in an emailed statement.
“He has scaled software companies during periods of rapid growth; led them as CEO, CFO and COO; and has a deep understanding of both the technical and financial sides of the business,” Heaps said.
Heaps called the leadership change “a natural next step in our fourth-quarter growth trajectory.”
“Having entered [new] role, I can focus more fully on the areas that interest me most [and] With Lewis, an experienced operational leader, as CEO, we can operate with even greater speed, discipline and efficiency,” Heaps said.
CONNECTED: Q4 Inc. delists from TSX as Sumeru Equity Partners buyout deal completes
Heaps will continue to be actively involved in strategic direction, innovation and corporate development initiatives as chairman and chief security officer, the company said in a statement. Some of his areas of focus will include strategic partnerships, corporate mergers and artificial intelligence (AI) leadership in capital markets.
Q4 Inc. helps public companies manage their websites, events and communications. In July, the company launched Q, its AI-powered agent designed to provide investor relations teams with analytics, automation and strategic guidance. In the fourth quarter, it claims to have relationships with more than 2,600 public companies worldwide, including more than 50 percent of the S&P 500 stock market index.
“This leadership evolution allows the company to fully capitalize on its advances in generative AI and strengthen its position as a category leader in AI-powered investor relations,” Sumeru managing director Mark Haller said in a statement.
Q4 Inc. was just one of many Canadian technology companies. fleeing the pressures of public markets last year. Although the final transaction price represented a 36 percent premium to Inc.'s stock price. in the fourth quarter, it was only half the value of its shares in October 2021. initial public offering.
Image courtesy of Q4 Inc.
