Business
LegalZoom Announces Leadership Transition
Current Chairman Jeffrey Stibel to become next CEO John Murphy named Lead Independent Director MOUNTAIN VIEW, Calif., July 09, 2024 (GLOBE NEWSWIRE) --
About this update from Legalzoom.com, Inc.
[{"type":"text","content":"Current Chairman Jeffrey Stibel to become next CEO John Murphy named Lead Independent Director MOUNTAIN VIEW, Calif., July 09, 2024 (GLOBE NEWSWIRE) -- LegalZoom.com, Inc. (Nasdaq: LZ) today announced that the Company’s current Chairman of the Board of Directors, Jeffrey Stibel, has been named LegalZoom’s next CEO, effective immediately. LegalZoom has also appointed John Murphy as the Lead Independent Director of the Board. As part of this transition, current Chief Executive Officer Dan Wernikoff will be departing the Company, including resigning from the Board. The Board and Mr. Wernikoff decided that now is the right time for this transition, as the Company increases its focus on shifting towards subscription-based revenue to drive long-term profitable growth. “The Board identified Jeff as the ideal CEO to lead LegalZoom’s next chapter,” said Mr. Murphy. “He is a seasoned executive who has been a deeply involved member of the Board for nearly a decade, including serving in a leadership position as Chairman since 2018. Jeff possesses extensive knowledge of the Company’s product offerings, technology infrastructure, and attorney network, as well as the competitive landscape and customer segment. He also brings ideal experience to the role, having been an executive officer of numerous technology services companies where he successfully scaled and enhanced profitability for subscription technology offerings – an increasingly key strategic focus area for LegalZoom. Finally, as one of our largest individual investors, Jeff will be closely aligned with all our shareholders as he focuses on creating long term value.” Mr. Stibel joined the Board of LegalZoom in 2014, and over the course of his career has established an extensive track record as both a successful investor and operating executive, with a focus on subscription businesses serving entrepreneurs. He has been a partner of Bryant Stibel & Company, an investment and strategic advisory platform, since 2013. Mr. Stibel served as the Vice Chairman of Dun & Bradstreet until the company was taken private in 2017 and was Chairman and CEO of a predecessor company acquired by Dun & Bradstreet, where he helped to grow the small business customer base nearly 500% to over two million subscribers. Prior to that, Mr. Stibel was President and CEO of Web.com, Inc., where he grew the business ...