Business
SPS Commerce Announces Planned Retirement of CEO
Archie Black to transition to Executive Chair of the Board upon appointment of successor MINNEAPOLIS, March 02, 2023 (GLOBE NEWSWIRE) -- SPS Commerce, Inc.
About this update from Sps Commerce, Inc.
[{"type":"text","content":"Archie Black to transition to Executive Chair of the Board upon appointment of successor\nMINNEAPOLIS, March 02, 2023 (GLOBE NEWSWIRE) -- SPS Commerce, Inc. (Nasdaq: SPSC), a leader in retail cloud services, today announced that its Chief Executive Officer, Archie Black, intends to retire from his role as CEO. Mr. Black will remain in the role through the completion of the search for his successor and through the transition process to ensure a seamless succession. The Company’s Board of Directors has initiated an executive search for the next CEO. Once appointed, Mr. Black will transition from his position as CEO to the newly created role of Executive Chair of the Board. This transition is designed to provide leadership continuity and reflects the Company’s commitment to consistent execution, and its mission to be the world’s retail network. “On behalf of the board of directors, the management team, and employees, I’d like to thank Archie for leading SPS Commerce for the past 22 years, charting the course and executing a strategy that has grown the Company from a groundbreaking, disruptive idea into a global powerhouse with the world’s leading retail network. Archie has relentlessly fostered a people-first culture, exceptional customer experience, and community support,” said Philip Soran, Chair of the Board. “During his tenure, the Company extended its global reach to over 115,000 customers, achieved 88 consecutive quarters of increased revenue, delivered significant shareholder value, and established a path for continued growth through tremendous go-to-market leverage.” “Since 2001, I have had the opportunity to work with talented individuals who helped me to plan for, prepare, and execute a dramatic new course for our organization. Together, we have successfully capitalized on retail industry dynamics and became the world’s largest cloud retail network, while consistently delivering on our commitments to customers and shareholders,” said Mr. Black. “I am proud of our accomplishments, and I believe our strategy and our people position SPS Commerce for continued success and sustained, profitable growth.” In his role as Executive Chair, Mr. Black will advise and support the new CEO on matters related to strategy and business development and assist with the CEO transition. SPS Commerce will continue to benefit from Mr. Black’s lo...