DISCO Announces Leadership Transition

9/11/23 4:40:00 PM ET

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Co-Founder and CEO Kiwi Camara has stepped down from the company

Experienced business executive Scott Hill has been named interim CEO while the board conducts a search for a permanent successor

CS Disco, Inc. ("DISCO") (NYSE:LAW) today announced that Kiwi Camara, Co-Founder and Chief Executive Officer, has decided to step down from his roles as Chief Executive Officer and a member of the board of directors.

Scott Hill has been named as Chief Executive Officer, to serve on an interim basis while the board of directors searches for a permanent successor. Mr. Hill has served as a member of DISCO's board of directors since June 2021 and was previously Chief Financial Officer of Intercontinental Exchange (NYSE:ICE). Mr. Camara has indicated that he will make himself available to assist Mr. Hill during the transition.

Since its founding in 2013, DISCO has grown from a startup to a global leader in AI-powered legal technology. DISCO has more than 1,400 customers, including many of the largest law firms and legal departments in the world. Earlier this year, DISCO announced the launch of Cecilia, an AI chatbot that allows lawyers to ask natural language questions and get narrative responses, with citations to evidence, based on documents in private DISCO Ediscovery databases.

"DISCO was founded on the idea that better technology can improve legal outcomes and improve the experience of practicing law," said Krishna Srinivasan, chair of DISCO's board of directors. "Now, we look forward to continuing our technology leadership by applying the latest advances in AI to legal problems. We are grateful to Kiwi for his vision, passion, and dedication to DISCO over the past decade."

"It has been an incredible experience growing this business from an idea to an industry leader," said Camara. "DISCO is in excellent hands. I have every confidence in Scott Hill and the DISCO team as they manage this transition and carry on DISCO's proud tradition of combining world-class engineering with a deep love and respect for the law to build product experiences that lawyers love."

"It is a privilege to lead DISCO as CEO," said Mr. Hill. "I have seen DISCO's dedication to innovation and its commitment to using technology to empower lawyers and legal professionals to deliver better legal outcomes. I look forward to leading DISCO as our talented team helps lawyers around the world realize the power and potential of AI."

About Scott Hill

Scott Hill joined DISCO's board of directors in June 2021, where he has served as Chair of the Compensation Committee and as a member of the Audit Committee. Prior to joining DISCO, Mr. Hill was Chief Financial Officer of Intercontinental Exchange, Inc. (NYSE:ICE) from May 2007 to May 2021. During his tenure, Mr. Hill helped transform the company into a global trading powerhouse worth more than $60 billion through organic growth and acquisitions and delivered a compound annual growth rate in adjusted earnings per share of 16%. Before that, Mr. Hill was an international finance executive for International Business Machines Corporation (NYSE:IBM) from 1991 to 2007.

Mr. Hill is a seasoned business leader with a proven track record of building and leading complex finance organizations, enhancing corporate culture, collaboratively developing business plans, and serving as a strategic advisor to boards and CEOs. Known for his excellent communication skills and high integrity, Mr. Hill is a motivating and caring leader who builds strong relationships with key stakeholders across his teams, C-suite leaders, and board members in addition to investors, partners, and communities.

Mr. Hill earned a Bachelor of Business Administration with High Honors from the University of Texas at Austin in 1990 and was recognized as a Stern Scholar while obtaining his Master of Business Administration from New York University in 1999. He was recognized as the CFO of the Year in Georgia in 2009 and 2010 and as Institutional Investors' All America Executive Team Best CFO in 2013, 2014, 2017 and 2018. He was also honored with a Lifetime Achievement award from the Atlanta Business Chronicle in 2021.

Forward-Looking Statements

This press release contains forward-looking statements, including, among other things, statements regarding DISCO's technology leadership. You should not rely upon forward-looking statements as predictions of future events. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause DISCO's actual results, performance, or achievements to differ materially, including those more fully described in DISCO's filings with the Securities and Exchange Commission ("SEC"), including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, filed with the SEC on August 9, 2023. Further information on potential risks that could affect actual results will be included in subsequent periodic and current reports and other filings that DISCO makes with the SEC from time to time. Forward-looking statements represent DISCO's management's beliefs and assumptions only as of the date such statements are made. DISCO undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

About DISCO

DISCO (NYSE:LAW) provides cloud-native, artificial intelligence-powered legal solutions that simplify legal hold, legal request, Ediscovery, legal document review and case management for enterprises, law firms, legal services providers, and governments. Our scalable, integrated solutions enable legal departments to easily collect, process and review enterprise data that is relevant or potentially relevant to legal matters. For more information, visit www.csdisco.com.