Constellation Software Inc. (TSX: CSU) announced that founder Mark Leonard will not seek re-election to the company's board of directors. His current term ends following the annual shareholder meeting on May 15, 2026.

Leonard will continue as an advisor to the Toronto-based software company, focusing on the Permanent Engaged Minority Shareholder strategy. This initiative involves selective, long-term minority investments that complement Constellation's acquisition model.

Mark Miller, Constellation's president, said Leonard built the company into a global software business operating across more than 150 countries over three decades. Miller noted that Leonard established a philosophy emphasizing decentralized leadership, best practice sharing, and long-term value creation.

John Billowits, chairman of the board, said Leonard's influence on the company's culture and capital allocation discipline remains foundational. The board expressed confidence in Constellation's strategy and leadership continuity.

Leonard founded Constellation and previously served as president before transitioning to his board role. The company acquires, manages and builds vertical market software businesses.

In a 2018 letter, Leonard described his motivation as helping create a company where worthy people succeed, supporting employees who work hard, treat others well, continuously learn, and share best practices.

Constellation Software's shares trade on the Toronto Stock Exchange under the symbol CSU.