Robert Julian to Step Down as Chief Financial Officer of The RealReal
September 29 2023 - 8:30AM
The RealReal (the “Company” or “The RealReal”) (Nasdaq: REAL)—the
world’s largest online marketplace for authenticated, resale luxury
goods—today announced that Robert Julian will step down from his
role as Chief Financial Officer (“CFO”) of the Company effective on
the earlier of January 31, 2024 or the date a new CFO assumes the
position.
If a new CFO assumes the position prior to January 31, 2024, Mr.
Julian will continue as an employee and serve as an executive
advisor to the Company through January 31, 2024. To assist with the
transition of his role, Mr. Julian has agreed to provide limited
consulting services to the Company following his termination of
employment from February 1, 2024 until June 30, 2024. The Board of
Directors of the Company will retain an executive search firm to
commence a search process to identify a new CFO.
The Company’s Chief Executive Officer John Koryl commented,
“Robert and I have worked closely together since my arrival as CEO
earlier this year, and I have deeply appreciated his counsel and
leadership. We wish Robert success in his future endeavors. As we
announced last quarter, we remain committed to our key initiatives
and believe we are on the right path.”
“It has been a great pleasure to serve as CFO of The RealReal
over the past two years,” said Robert Julian. “I have the utmost
confidence in the brand, and I am grateful for the opportunity to
work with one of the most dedicated teams in the luxury resale
industry.”
About The RealReal, Inc.
The RealReal is the world’s largest online marketplace for
authenticated, resale luxury goods, with more than 33 million
members. With a rigorous authentication process overseen by
experts, The RealReal provides a safe and reliable platform for
consumers to buy and sell their luxury items. We have hundreds of
in-house gemologists, horologists and brand authenticators who
inspect thousands of items each day. As a sustainable company, we
give new life to pieces by thousands of brands across numerous
categories—including women's and men's fashion, fine jewelry and
watches, art and home—in support of the circular economy. We make
selling effortless with free virtual appointments, in-home pickup,
drop-off and direct shipping. We do all of the work for consignors,
including authenticating, using AI and machine learning to
determine optimal pricing, photographing and listing their items,
as well as handling shipping and customer service.
Investor Relations Contact:Caitlin HoweSenior
Vice President, Investor RelationsIR@therealreal.com
Press Contact:Laura HogyaHead of
Communicationslaura.hogya@therealreal.com
Forward Looking StatementsThis press release
contains forward-looking statements relating to, among other
things, the future performance of The RealReal that are based on
the company's current expectations, forecasts and assumptions and
involve risks and uncertainties. In some cases, you can identify
forward-looking statements by terminology such as “may,” “will,”
“should,” “could,” “expect,” “plan,” “anticipate,” “target,”
“contemplate,” “project,” “believe,” “estimate,” “predict,”
“intend,” “potential,” “continue,” “ongoing” or the negative of
these terms or other comparable terminology. These statements
include, but are not limited to, statements about future operating
and financial results, including our strategies, plans,
commitments, objectives and goals, in particular in the context of
the impacts of recent geopolitical events and uncertainty
surrounding macro-economic trends, disruptions in the financial
industry, inflation and the COVID-19 pandemic, our ability to
achieve anticipated savings in connection with our real estate
reduction plan and associated workforce reduction, our ability to
efficiently drive growth in consignors and buyers through our
marketing and advertising activity, our ability to successfully
implement our growth strategies and their capacity to help us
achieve profitability or generate sustainable revenue and profit,
and our financial guidance, timeline to profitability, and long
range financial targets and projections. Actual results could
differ materially from those predicted or implied and reported
results should not be considered as an indication of future
performance. Other factors that could cause or contribute to such
differences include, but are not limited to, the impact of the
COVID-19 pandemic on our operations and our business environment,
inflation, macroeconomic uncertainty, disruptions to the financial
industry, geopolitical instability, any failure to generate a
supply of consigned goods, pricing pressure on the consignment
market resulting from discounting in the market for new goods,
failure to efficiently and effectively operate our merchandising
and fulfillment operations, labor shortages and other reasons. More
information about factors that could affect the company's operating
results is included under the captions “Risk Factors” and
“Management's Discussion and Analysis of Financial Condition and
Results of Operations” in the company's most recent Annual Report
on Form 10-K for the year ended December 31, 2022 and subsequent
Quarterly Reports on Form 10-Q, copies of which may be obtained by
visiting the company's Investor Relations website at
https://investor.therealreal.com or the SEC's website at
www.sec.gov. Undue reliance should not be placed on the
forward-looking statements in this press release, which are based
on information available to the company on the date hereof. The
company assumes no obligation to update such statements.
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