'We've entered a new stage ...and it requires a different kind of leadership,' Dax Dasilva said.
) has announced the return of founder Dax Dasilva as interim chief executive officer, replacing Jean Paul Chauvet, amid a struggling stock price for the commerce technology firm.
The value of Lightspeed shares has fallen about 30 per cent this year, even as the company has grown sales and gained profitability. The stock plummeted 24 per cent in one day following the release of third quarter earnings on Feb. 8. Dasilva said on Thursday that Lightspeed's strategy is on the right path, but that "frugality needs to be brought back to the ethos of the company."
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