SALT
LAKE CITY, Sept. 28, 2023 /PRNewswire/ -- Instructure
(NYSE: INST), the leading learning platform and maker of Canvas,
today announced that Peter Walker
has been named the company's new chief financial officer (CFO),
effective November 13, 2023. Walker
will lead Instructure's finance function in support of the
company's mission of elevating student success, amplifying the
power of teaching, and inspiring everyone to learn together. Walker
will succeed Dale Bowen, who will
step down from his role as CFO on November
12, 2023, and has agreed to provide transition services
through March 2, 2024.
"We're delighted to add Walker to our talented team of leaders
at Instructure," said Steve Daly,
CEO of Instructure. "Walker's experience both as a public company
CFO, in the private equity markets, and in roles as a strategic
leader will serve us well."
"We're grateful for the contributions Dale Bowen has made to our company," Daly
continued. "Over the last four years, he has helped us successfully
navigate important transitions, including our 2020 shift from the
public markets to private equity, and our return to the public
market in 2021. During his tenure, he also established a strong
culture of transparency and consistency and built a solid
foundation for our next leader."
Walker has more than 15 years of executive experience, including
more than 10 years of experience as a CFO. Currently he is the CFO
of Sterling Check Corp., a publicly traded global provider of
technology-enabled background and identity services. Prior to his
tenure at Sterling, Walker spent two
years as Jackson Hewitt's CFO
leading the company's sale to a new financial sponsor and
refinancing the company's debt. Prior to Jackson Hewitt, Walker spent more than 15 years
at Assurant, a publicly traded global company. He has held senior
finance, strategy and risk management roles, most recently as chief
strategy officer. Walker began his professional career in
consulting with Ernst & Young LLP and earned a Bachelor of
Science in accounting from Miami University of
Ohio, a Master of Business Administration from New York University's Stern School of Business and
is a certified public accountant.
"Instructure has built a great reputation for driving growth and
delivering profitability and for being a mission-driven company
delivering a world-class education solution for 30-million-plus
users worldwide," said Walker. "I look forward to building on the
legacy the company has built with its Canvas LMS and extensive
learning platform."
Update on Third Quarter and Full Year 2023 Guidance
Based on information as of today, September 28, 2023, the Company is reiterating
the financial guidance it provided during its second quarter
earnings conference call and related press release on July 31, 2023.
ABOUT INSTRUCTURE
Instructure (NYSE: INST) is an education technology company
dedicated to elevating student success, amplifying the power of
teaching, and inspiring everyone to learn together. Today the
Instructure Learning Platform, comprised of its flagship product
Canvas LMS and several products serving K-12 and higher education,
supports tens of millions of educators and learners around the
world. Learn more at www.instructure.com.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking" statements, which
are subject to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, including statements regarding the
Company's financial guidance for the third quarter of 2023 and for
the full year ending December 31,
2023, the Company's growth, customer demand and application
adoption, the Company's research and development efforts and future
application releases, the Company's business strategy and the
Company's expectations regarding future revenue, expenses, cash
flows and net income or loss.
These statements are not guarantees of future performance, but
are based on management's expectations as of the date of this press
release and assumptions that are inherently subject to
uncertainties, risks and changes in circumstances that are
difficult to predict. Forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from any future results, performance or achievements.
Important factors that could cause actual results to differ
materially from those expressed or implied by these forward-looking
statements include the following: risks associated with the
continued economic uncertainty, including record-high inflation,
supply chain challenges, labor shortages, high interest rates,
foreign currency exchange volatility, concerns of economic slowdown
or recession and reduced spending by customers; failure to continue
our recent growth rates; risks associated with future stimulus
packages approved by the U.S. federal government; our ability to
acquire new customers and successfully retain existing customers;
the effects of increased usage of, or interruptions or performance
problems associated with, our learning platform; the impact on our
business and prospects from pandemics; our history of losses and
expectation that we will not be profitable for the foreseeable
future; the impact of adverse general and industry-specific
economic and market conditions; failure to manage our growth
effectively; and changes in the spending policies or budget
priorities for government funding of Higher Education and K-12
institutions.
These and other important risk factors are described more fully
in the Company's most recent Annual Report on Form 10-K and
subsequent Quarterly Report on Form 10-Q and other documents filed
with the Securities and Exchange Commission and could cause actual
results to vary from expectations. All information provided in this
press release and in the conference call is as of the date hereof
and Instructure undertakes no duty to update this information
except as required by law.
For More Information:
Media Relations:
JP Schuerman
Corporate Communications
Instructure
(310) 279-6989
jp.schuerman@instructure.com
Investor Relations:
David Banks
Investor Relations
Instructure
(262) 825-8388
david.banks@instructure.com
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SOURCE Instructure Holdings, Inc.