Toronto-based investor relations software company Q4 Inc. has appointed Lewis Black as CEO and shifted founder Darrell Heaps to the roles of chairman and chief strategy officer (CSO).
The shakeup follows Heaps’ leading the company through a go-private acquisition with Sumeru Equity Partners last year. Sumeru acquired all issued and outstanding shares of Q4 Inc., other than those held by the “rolling shareholders,” one of which was Heaps. Since then, the company has added a new CFO, chief marketing officer, chief revenue officer, and CEO.
Q4 Inc. did not explain the motivation behind the leadership change, but said it’s “designed to strengthen execution” and extend its position as “the category leader in investor relations operations.”
“We’re positioned to execute with even greater speed, discipline and impact.”
Darrel Heaps
Q4 Inc. founder
Black brings prior experience as SolarWinds CFO and Actian CEO, as well as leadership positions at firms like Vonage’s Nexmo division and Citrix. Black has also been a strategic advisor at Q4 Inc.’s parent company, Sumeru, since April 2023, according to his LinkedIn profile.
Black brings “the right experience” to Q4, Heaps told BetaKit in an email statement.
“He’s scaled software companies through periods of rapid growth; led across CEO, CFO, and COO roles; and deeply understands both the tech and finance sides of the business,” Heaps said.
Heaps called the executive change “the natural next step in Q4’s growth journey.”
“By stepping into the [new] role, I’m able to focus more fully on the areas I’m most passionate about [and] with Lewis — a seasoned operational leader— as CEO, we’re positioned to execute with even greater speed, discipline and impact,” Heaps said.
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Heaps will remain actively involved in strategic direction, innovation, and corporate development initiatives as chairman and CSO, the company said in a statement. Some of his focus areas will include strategic partnerships, corporate mergers, and artificial intelligence (AI) leadership in the capital markets.
Q4 Inc. helps publicly traded companies manage their websites, events, and engagement. The company launched Q, its AI-powered agent meant to provide investor relations teams with insights, automation, and strategic guidance, in July. Q4 claims it partners with more than 2,600 public companies worldwide, including over 50 percent of the S&P 500 stock market index.
“This leadership evolution positions the company to fully capitalize on its generative AI breakthroughs and extend its position as a category leader in AI-driven investor relations,” Sumeru managing director Mark Haller said in a statement.
Q4 Inc. was just one of many Canadian tech companies fleeing the pressure of public markets last year. While the final price of the deal marked a 36 percent premium on Q4 Inc.’s share value, it represented only half the value of its October 2021 initial public offering.
Feature image courtesy Q4 Inc.