Procore (PCOR) Announces CEO Succession

Procore Technologies, Inc. (NYSE: PCOR) today announced that Founder, President and CEO, Tooey Courtemanche, intends to transition to Executive Chairman upon the appointment of a successor. In this position, he will continue to be deeply involved in the business and lead the Board. Until that time, there will be no changes to Courtemanche’s current role as CEO.

The Board of Directors will initiate a comprehensive search process to find Courtemanche’s successor.

“I founded Procore to solve the construction industry’s greatest challenges, and will continue to carry out my life’s work in my role today and in my future role,” said Courtemanche. “I made this decision with the confidence that our business foundation is strong, and now is the right time to begin the process of finding a new CEO who will build on our momentum and lead the Company through its next phase of growth. When the time comes for me to transition to Executive Chairman, my commitment to our customers and the Company's success will remain as strong as ever.”

“Tooey established Procore as the software platform of choice for the construction industry, and we look forward to continuing to benefit from his exceptional vision and leadership—and his invaluable industry knowledge—in his current and future roles,” said Graham Smith, Lead Independent Director. “As we embark on the search for Procore’s next CEO, our priority is to identify a leader with a strong commitment to our mission of connecting everyone in construction on a global platform and proven operational experience at scale—a leader who can continue to enhance customer value and drive extraordinary growth.”

Procore reaffirms its first quarter fiscal 2025 and full-year fiscal 2025 guidance, as previously announced in its earnings release for the fourth quarter and full year 2024 financial results on February 13, 2025.

You May Also Be Interested In

• Stay long AI-capex winners into the peak, Stifel says despite bubble fears
• FedEx (FDX) PT Lowered to $397 at Bernstein SocGen Group
• Radoff-JEC Group pushes for board seats at Seer amid proxy fight