TORONTO, March 27, 2026 (GLOBE NEWSWIRE) -- Constellation Software Inc. (TSX:CSU) ("Constellation") announced today that Mark Leonard, the founder and former President of Constellation, will not stand for re-election to the Board of Directors. His current term will conclude following Constellation's annual meeting of shareholders on May 15, 2026.
Mr. Leonard will continue to serve as an advisor to Constellation, with a particular focus on supporting the company's Permanent Engaged Minority Shareholder ("PEMS") strategy-an initiative centered on selective, long-term, and engaged minority investments that complement Constellation's longstanding acquisition model.
Mark Miller, President of Constellation, stated:
"Over more than three decades, Mark built Constellation into one of the world's most distinctive and successful software companies. From a small Toronto office, he developed a global portfolio of businesses and a deeply capable management culture operating across more than 150 countries.
"Equally important, Mark established a philosophy and operating discipline that will endure. His emphasis on decentralized leadership, developing and sharing best practices, long-term value creation, and the development of exceptional managers continues to define how we run the business."
"While we will miss Mark's presence in the boardroom, we are fortunate that he will remain engaged as an advisor. His perspective and investment expertise will be particularly valuable as we continue to expand our PEMS strategy.
John Billowits, Chairman of the Board, said:
"Mark's influence on Constellation's culture and capital allocation discipline is foundational and enduring. The Board remains confident in the Company's strategy and leadership continuity."
In his April 2018 President's Letter, Mr. Leonard described his motivation:
"You may have noticed that I deferred the 'why are we doing this?' question. The answer to that is personal to each of us who are involved in Constellation. My motivation is to help create a company where worthy people succeed. Whether they join us through an acquisition or are hired externally, I want to support and encourage employees who work hard, treat others well, continuously learn, and share best practices."
That aspiration has been realized in the company he built. On behalf of the Board and the entire Constellation community, we express our deep gratitude to Mark for his extraordinary leadership and enduring contributions. We wish him the very best in the years ahead.
About Constellation:
Constellation's common shares are listed on the Toronto Stock Exchange under the symbol "CSU". Constellation Software acquires, manages and builds vertical market software businesses.
Contact:
Jamal Baksh
Chief Financial Officer
416-861-9677
