Coveo Announced Changes to Responsibilities of Senior Executive Team

Coveo (TSX: CVO), the market leader in AI-Relevance, delivering AI search, generative, and business-aware relevance at every point-of-experience, announced today that in anticipation of Coveo's continued growth, scale and strategic opportunities, the company is making adjustments to the responsibilities of its senior executive team.

Effective with the company's new fiscal year on April 1, 2025, Louis Têtu, our Chairman and CEO, will move to a full time Executive Chair role where he will remain focused on Coveo's corporate development, strategy, key customers and growth opportunities globally. Laurent Simoneau, the company's Founder, President and CTO, will broaden his duties as President to serve as Coveo's CEO. Mr. Simoneau will receive the added operational support of John Grosshans, who will be promoted from his role as Chief Revenue Officer to become the company's Chief Operating Officer, overseeing all revenue, customer and partner operations for the business. Lastly, Marc Sanfacon, one of the company's co-founders and current SVP, Technology, will be promoted to the role of Chief Technology Officer.

"My commitment to the company is unwavering" said Louis Têtu. "Given our momentum, and the significant opportunity we see ahead, the timing is right to make these adjustments and broaden the footprint of our senior leadership. As full time Executive Chair I will focus my energy on industry and market opportunities, to continue to build our relationships with customers and Coveo partners, and to continue to serve as a close mentor and coach for our next generation of leaders", he added.

"Laurent, who co-founded Coveo approximately 20 years ago, is the right person to take on the CEO role. Laurent has always been intimately involved in developing our strategy, driving valuable and distinguished innovation, and making sure that we always maintain a focus on customer outcomes. Laurent's decisive leadership, deep experience across the entire organization and value chain of our business, and intimate relationship with customers, uniquely positions him to take on the CEO role", also added Mr. Têtu.

"I am honored and excited to take on this role, continuing our growth journey with Louis and the executive team" said Mr. Simoneau, who was previously CEO from 2004 to 2011. "Our market is at an inflection point, and companies like Coveo that are proven in delivering meaningful customer outcomes with applied AI are emerging as leaders. We believe we are well positioned to capitalize on the significant opportunity ahead."

"Further, I'm grateful to be complimented with the strong operational leadership of John Grosshans. Since John has been with us, he has transformed our revenue growth organization and has embraced our customer-first values, which has materialized into meaningful increases in our bookings performance and customer metrics over the past two quarters. As COO, John will now bring his leadership to all revenue, customer and partner operations of the business, which I'm confident will continue to serve us well in the years ahead. In addition, I am pleased that Marc Sanfaçon will step into the role of CTO. With Marc's proven leadership, deep technology expertise and tried and tested operational excellence in R&D, Coveo's technology is ideally positioned for continued innovation", Mr. Simoneau also added.

These changes are made pursuant to the board's and the company's long term leadership planning activities and with the primary goal of ensuring Coveo remains sharply focused on the growth opportunities ahead in a dynamic market while ensuring excellent operational execution. A full description of the Executive Chair's and CEO's responsibilities will be made available in the Governance section of Coveo's Investor Relations website at ir.coveo.com by April 1, 2025.