David DeStefano, Vertex Inc. President, CEO and Chairperson of the Board has been named one of the most admired CEOs for 2020 by the Philadelphia Business Journal.
DeStefano, who was named CEO at the King of Prussia-based company in 2016, took the tax technology company public in the middle of a pandemic, expanded Vertex’s global footprint and instituted a Global Day of Service last year. Last month DeStefano, while reporting that third-quarter revenue was up 14.8% year-over-year, told analysts: “As digital transformation continues to accelerate, so does the scale and complexity of our customers’ tax operations supporting these initiatives. We experienced solid revenue growth and accelerated cloud adoption among new and existing customers.”
As it pertains to leadership, DeStefano explained how people can pivot and change faster than leaders assume. He noted that senior executives are accountable for ensuring that employees are crystal clear on “why” a change is necessary. “The pandemic made it easy because everyone understood why Vertex had to switch to 100% virtual work immediately and knew it was ultimately for their safety. Vertex is proud to have delivered on 100% of our customer commitments this year. There is no reason that other change efforts can’t be just as effective and efficient if leaders are clear about the purpose and direction,” he added.