Damien Singh, chief financial officer of Canva, the design software firm last valued at over $25 billion, has left the company.

The departure leaves one of the most closely watched software firms with an important executive position to fill ahead of a potential initial public offering. The Australia-based company said in a note to investors last week it made the change to “set ourselves up for the next chapter of Canva’s growth.” A company spokesperson confirmed Singh’s departure.