Raymond James initiates QXO stock with Outperform rating on acquisition strategy
Klaviyo, Inc. (NYSE:KVYO), a technology company with a market capitalization of $9.75 billion and strong financial health according to InvestingPro analysis, announced Friday that Chano Fernández, a current member of its board of directors, has been appointed interim executive officer effective September 1. The appointment is set for an initial term through December 31, 2025, and may be terminated by either party with a one-month notice period, according to a press release statement based on the company’s SEC filing.
During his tenure as interim executive officer, Fernández will report to Andrew Bialecki, Klaviyo’s chief executive officer. As a result of the appointment, Fernández will step down as chairperson and member of the board’s compensation committee. Tony Weisman has been named to replace Fernández as chairperson of the compensation committee.
Fernández, age 56, has served on Klaviyo’s board since July 2023. His previous roles include co-CEO at Eightfold.ai from January 2024 to August 2025, and co-chief executive officer and director at Workday, Inc. (NASDAQ:WDAY) from August 2020 to December 2022. He also held executive positions at SAP EMEA, Infor, Inc., Blue C, and McKinsey & Company.
Under the terms of his service agreement, Fernández will receive a monthly base salary of £61,618. He will also be granted restricted stock units valued at $3.2 million, vesting in a single installment on November 15, 2025. Nine analysts have recently revised their earnings expectations upward for the upcoming period, according to InvestingPro, which offers comprehensive analysis and additional insights through its Pro Research Reports covering 1,400+ top US stocks. Fernández will not receive additional compensation for his board service while acting as interim executive officer. The company stated that Fernández has no family relationships with other directors or executive officers and no material interest in any related transactions requiring disclosure.
This information is based on a press release statement included in Klaviyo’s SEC Form 8-K filing.
In other recent news, Klaviyo Inc reported a robust 32% revenue growth in its second quarter, surpassing Wall Street’s expectations of 26%. This strong performance led the company to raise its fiscal year 2025 growth guidance to 27-28%, up by 200 basis points from prior forecasts. Following these results, TD Cowen and Benchmark both increased their price targets for Klaviyo to $46, while Piper Sandler raised its target to $55, citing the company’s significant earnings beat and strong international growth of 42% year-over-year. In another development, Summit Partners, a significant shareholder in Klaviyo, announced plans to sell 6.5 million shares of Series A common stock in an underwritten public offering. Klaviyo will not receive any proceeds from this sale. The offering also includes an option for the underwriter, Barclays, to purchase an additional 975,000 shares within 30 days. These recent developments have attracted considerable attention from investors and analysts alike.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.