Wish Appoints Joe Yan into Permanent CEO Position
February 23 2023 - 4:10PM
ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world’s
largest mobile ecommerce platforms, today announced that Interim
CEO Joe Yan has been appointed the permanent Chief Executive
Officer of Wish, effective February 21, 2023. Mr. Yan, who has been
serving as Interim CEO since September 2022, has also been
appointed to the Company’s Board of Directors.
“Joe has a deep
understanding of ecommerce and brings with him almost twenty years
of strategic planning, operational excellence, innovation, and
cultivating teams that deliver results,” said Tanzeen Syed,
Chairman of the Wish Board of Directors. “As Interim CEO, he has
demonstrated strong leadership skills, along with a passion and
drive to push Wish to achieve its full potential. The Board has
full confidence in Joe to guide the business back onto a path of
growth.”
“This is a pivotal
time for Wish. We have a huge opportunity ahead, and I am energized
by the team and plan we have in place,” said Joe Yan, Chief
Executive Officer of Wish. “I am committed to leading the business
through this journey of transformation, and look forward to further
building on our strengths, innovating for the future and setting up
Wish for long-term success.”
Wish also announced
today that it has named Mauricio Monico as its new Chief Product
Officer to lead the entire product organization at Wish. Mr. Monico
joined Wish in December 2021 as VP of Merchant & Logistics,
Product before being appointed as Chief Merchant Officer, Product
in August 2022. He is an accomplished product leader who has over
17 years of experience at Google, Facebook, eBay, and
Microsoft.
Wish’s Interim Chief
Technology Officer, Jerry Louis, will also step into the role on a
permanent basis, effective immediately.
“We are also excited to announce the internal
appointments of several senior leaders within the company who bring
with them years of experience within the tech and ecommerce space.
Together, we are laser focussed and motivated to return our
business to a path of growth,” continues Mr. Yan. “By consolidating
the consumer product, merchant product and logistic product teams
together, we believe we can accelerate our product evolution to
provide customers with a better end-to-end experience.”
To learn more about
Wish, please visit www.wish.com.
About WishWish brings an
affordable and entertaining shopping experience to millions of
consumers around the world. Since our founding in San Francisco in
2010, we have become one of the largest global ecommerce platforms,
connecting millions of value-conscious consumers in over 60
countries to thousands of merchants globally. Wish combines
technology and data science capabilities and an innovative
discovery-based mobile shopping experience to create a
highly-visual, entertaining, and personalized shopping experience
for its users. For more information about the company or to
download the Wish mobile app, visit www.wish.com or follow
@Wish on Facebook, Instagram and TikTok or
@WishShopping on Twitter and YouTube.
Media contact:Carys
Comerford-Green, Wishpress@wish.com
Investor contact:Ralph Fong,
Wishir@wish.com
Forward-Looking StatementsThis
news release contains forward-looking statements within the meaning
of the Safe Harbor provisions of the Private Securities Litigation
Reform Act of 1995. All statements other than statements of
historical fact could be deemed forward-looking, including, but not
limited to, statements regarding Wish's CEO transition and
integration of the new CEO, executive management transitions and
integrations, outlook, priorities, expectations regarding
partnerships (including merchant relationships), business
operations, opportunities, and growth initiatives. In some cases,
forward-looking statements can be identified by terms such as
“anticipates,” “believes,” “could,” “estimates,” “expects,”
“foresees,” “forecasts,” “guidance,” “intends” “goals,” “may,”
“might,” “outlook,” “plans,” “potential,” “predicts,” “projects,”
“seeks,” “should,” “targets,” “will,” “would” or similar
expressions and the negatives of those terms. These forward-looking
statements are subject to risks, uncertainties, and assumptions. If
the risks materialize or assumptions prove incorrect, actual
results could differ materially from the results implied by these
forward-looking statements. New risks emerge from time to time. It
is not possible for our management to predict all risks, nor can we
assess the impact of all factors on our business or the extent to
which any factor, or combination of factors, may cause actual
results to differ materially from those contained in any
forward-looking statements we may make. Further information on
these and additional risks that could affect Wish’s results is
included in its filings with the Securities and Exchange Commission
(“SEC”), including its most recent Annual Report on Form 10-K and
Quarterly Report on Form 10-Q, and future reports that Wish may
file with the SEC from time to time, which could cause actual
results to vary from expectations. Any forward-looking statement
made by Wish in this news release speaks only as of the day on
which Wish makes it. Wish assumes no obligation to, and does not
currently intend to, update any such forward-looking statements
after the date of this release.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f3e8c72e-cccb-4333-a0d5-5aa2a18073cd
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