Docebo Inc. Announces CEO Succession and Substantial Issuer Bid

Docebo Inc. (NASDAQ: DCBO; TSX: DCBO) (“Docebo” or the “Company”) today announced a CEO succession plan for Claudio Erba, founder of the Company. Mr. Erba will be stepping away from his role as Chief Executive Officer and a member of the board of directors (the “Board”) and will be transitioning to the role of Chief Innovation Officer. The Board has appointed Alessio Artuffo to the role of Interim Chief Executive Officer effective March 1, 2024. Docebo also announced that the Board has approved a substantial issuer bid (the “Offer”) under which the Company will offer to repurchase for cancellation up to US$100,000,000 of its outstanding common shares (“Common Shares”) at a price of US$55.00 per Common Share.

CEO Transition

Claudio Erba and the Board have agreed, following a thoughtful process, to implement a succession plan that enables Mr. Erba to step back from his current roles effective February 29, 2024. Mr. Erba’s new role as Chief Innovation Officer will provide him with more time to focus exclusively on his true passion, innovation, and reduce the time-consuming operational responsibilities.

Alessio Artuffo, the Company’s President and Chief Operating Officer, will be appointed Interim Chief Executive Officer, effective March 1, 2024, and will also continue in his current role until a permanent CEO is named. Mr. Artuffo will be considered for the permanent CEO position as part of the succession planning process being implemented by the Board. Mr. Artuffo joined Docebo over a decade ago and has served in roles of increasing responsibility including Chief Revenue Officer and more recently, President and Chief Operating Officer. Mr. Artuffo is an expert in the e-learning and knowledge management industry and has been a critical contributor to Docebo’s success.

“Docebo has built a strong foundation for its customers and employees and is positioned for extraordinary success in the future,” said Claudio Erba, Chief Executive Officer. “Innovation is my passion and this provides me with the opportunity to focus on innovation exclusively. It’s an important next step for a high growth organization when the entrepreneur recognizes the skillsets necessary to realize the company’s full potential.”

“Claudio is an exceptional human being, entrepreneur, and innovator,” said Jason Chapnik, Chair of the Board. “Claudio’s contribution in his new role will help ensure that innovation will continue to drive our competitive differentiation and industry leading position. Alessio’s appointment to the role of President more than a year ago was the first step in our overall succession plan, and the Board has full confidence in Docebo’s growth and execution under his strong and proven leadership.”