Lucid Software Announces Dave Grow as New CEO, Karl Sun as Lucid's Board Chair

News provided by

Apr 13, 2022, 11:30 ET

SOUTH JORDAN, Utah, April 13, 2022 /PRNewswire/ -- Lucid Software, a leading provider of visual collaboration software, today announced that as part of a longstanding transition plan, President and COO Dave Grow has been appointed to CEO, effective immediately, with co-founder Karl Sun continuing as Lucid's Board Chair.

"This transition is something Dave and I have been talking about for a long time. Over the last few years together, we laid a firm foundation for our company strategy and mission, as well as rounded out our extremely capable executive team. I feel that now is the right time for me to finally take a step back from the day-to-day leadership and focus on my role as Board Chair," said Sun. "There's no one more capable, or better suited, than Dave to lead Lucid through the next phase of our growth. Dave has been with Lucid from the early days and has built nearly every department from the ground up. His broad experience and proven leadership will be invaluable as the company continues to grow. I'm excited for this next chapter of the company."

Grow's deep understanding of the visual collaboration market and Lucid's business uniquely qualifies him for driving the next phase of Lucid's growth. He joined as the company's first business hire in 2010 and has since taken on many responsibilities, including VP of Product and Strategy, VP of Operations and Strategy, Chief Revenue Officer, Chief Operating Officer and, for the past four years, President and COO. He is responsible for the creation and growth of many of the company's key business functions over the years, including architecting its product-led growth motion, establishing its marketing strategy and leading internationalization efforts. His business acumen and tenured experience with the company will be key as he takes on this new role at Lucid.

"I'm excited and honored to lead Lucid as its CEO," said Grow. "I believe deeply in our mission of helping teams see and build the future. Over the years, I have had the opportunity to get to know some of the millions of users that rely on Lucid. They inspire me as I see how they use Lucid to drive innovation within their companies. I'm equally inspired by the amazing team I get to work with at Lucid. I'm bullish about our future. I look forward to helping our users, customers and employees succeed."

"It has been my pleasure to watch Karl and Dave build Lucid together over the course of many years. On behalf of the Board of Directors, I can't thank Karl enough for all he has done for Lucid. I look forward to his continued leadership on the Board," said Ben Spero, Lucid Board Director and Managing Director of Spectrum Equity. "We have seen Dave's strategic and operational acumen up close for many years and have full confidence in his ability to lead Lucid through the next stage of growth as the new CEO."

About Lucid Software
Lucid Software offers a leading Visual Collaboration Suite that helps teams see and build the future from idea to reality. With its products—Lucidchart, Lucidspark and Lucidscale—teams can turn ideas into reality, clarify complexity and collaborate visually, no matter where they're located. Top businesses use Lucid's products all around the world, including customers such as Google, GE and NBC Universal. Lucid's partners include industry leaders such as Google, Atlassian and Microsoft. Since the company's founding, it has received numerous awards for its products, business and workplace culture. For more information, visit lucid.co.

Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking statements" under applicable securities laws. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "expect," "likely," "continue," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements Lucid makes regarding its leaders and the future growth and prospects of Lucid and its products. Forward-looking statements are based only on current beliefs, expectations and assumptions regarding the future of Lucid's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions and as such involve known and unknown risks and uncertainties, many of which are outside of Lucid's control. Actual results or events may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made in this release is based only on information currently available and speaks only as of the date on which it is made. Lucid undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

SOURCE Lucid Software