Executive shakeup at Lightspeed with CFO shifted to COO, and two new hires

The changes follow Dax Dasilva's move from CEO to executive chair, in February.

Lightspeed Commerce CEO JP Chauvet has announced a major shakeup in the company’s executive suite, appointing CFO Brandon Nussey to the newly created role of COO. At the same time, two new hires join as CFO, and chief people officer, respectively.

“Our executive leadership team also needs to evolve to support the company we are becoming.”

The changes take place a little more than a month after Lightspeed founder Dax Dasilva stepped down as CEO to become the company’s executive chair. At the same time, Chauvet moved from his position as the company’s president to become Lightspeed’s new CEO.

“In recent years Lightspeed has grown dramatically, adding thousands of new employees around the world, new capabilities and strong revenue growth,” Chauvet said. “Our executive leadership team also needs to evolve to support the company we are becoming.”

Nussey has served as Lightspeed’s CFO since 2018. He led the company’s initial public offerings on both the Toronto and New York stock exchanges. As COO, Nussey will oversee the business’s core operations, including people, systems, legal, IT, payment and financial services operations, and acquisition integration.

Nussey is also responsible for leading Lighspeed’s key strategic business partnerships, and driving the successful execution of Lightspeed’s financial services strategies for its customers.

Lightspeed’s new CFO, Asha Bakshani, is a former senior vice president of finance at Cineflix, a media production and distribution company. Before that, she spent nearly a decade working in public accounting at Deloitte. She is a member of the Chartered Professional Accountants of Canada.

Bakshani is responsible for overseeing Lightspeed’s finances as well as investor relations, and reports directly to Chauvet.

Rani Hammond joins Lightspeed as its new chief people officer. Most recently she worked as the chief people and culture officer at GenesisCare, a global healthcare services provider. Before that, Hammond looked after global human resources, talent management, and recruiting for 2U, a digital education company. She also spent six years with Hilton Worldwide as a human resources vice president and vice president of global brands performance and planning.

Ligthspeed also appointed Crystal Caligiuri as its executive vice president of customers in late February. Caligiuri is responsible for customer onboarding and engagement.

Previously, Caligiuri was chief customer officer at ShopKeep, a tablet-to-cloud payments and point of sale startup, which Lightspeed acquired in 2020.

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As executive chair, Dasilva continues to work with Chauvet and the board to set the strategic direction of the company. He is also focused on his latest venture, the non-profit environmental organization, Age of Union Alliance.

Current CEO Chauvet joined Lightspeed in October 2012 as chief revenue officer and became a board member in September 2013. He was named president in April 2016. He has led many of the company’s strategic acquisitions, as well as the launch and growth of the Lightspeed Payments platform.

For the third quarter of 2022, Lightspeed reported total revenue of $152.7 million, an increase of 165 percent compared to the three-month period ended December 31, 2020.

The company offers what it describes as a one-stop, cloud-based, point-of-sale system for retail, hospitality, and golf merchants. Founded in 2005, Lightspeed boasts customers in more than 100 countries, and has a notable presence in North America, Europe, and the Asia Pacific.

Image courtesy Lightspeed

Charles Mandel

Charles Mandel

Charles Mandel's reporting and writing on technology has appeared in Wired.com, Canadian Business, Report on Business Magazine, Canada's National Observer, The Globe and Mail, and the National Post, among many others. He lives off-grid in Nova Scotia.

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