Wish Announces CEO Transition
November 10 2021 - 4:06PM
Business Wire
- Piotr Szulczewski to step down as CEO
- Mr. Szulczewski to remain on the Company’s board
- Company has commenced search for permanent CEO
ContextLogic Inc. (d/b/a “Wish”) (NASDAQ: WISH), one of the
world’s largest mobile ecommerce platforms, today announced that
Piotr Szulczewski will be stepping down as Chief Executive Officer.
He will remain on the Company’s board of directors.
To ensure an orderly transition, Mr. Szulczewski will remain CEO
until either a successor is appointed by the Company’s board of
directors, or no later than February 1, 2022. The Company has
engaged an executive search firm to assist in recruiting a new
CEO.
“As Wish’s Founder and CEO for more than 10 years, Piotr has
played an instrumental role in creating a global, publicly-traded,
billion-dollar ecommerce marketplace that millions of shoppers use
every day. He has laid the groundwork for Wish to continue to grow
and thrive and will leave the business in the capable hands of our
new, highly talented and invigorated leadership team,” said Tanzeen
Syed, Lead Independent Director, Wish. “On behalf of the Board of
Directors and the entire team at Wish, I want to express my
sincerest gratitude to Piotr for his contributions to the company.
We look forward to him continuing to guide Wish as a member of our
board of directors as we enter our next stage of growth.”
Mr. Szulczewski founded Wish in 2010 and has served as CEO since
July 2010. Prior to founding the Company, he held various positions
at Google, Inc.
“It has been an honor to found and lead Wish through its
incredible growth as a private business and during its early days
as a publicly-traded company,” said Piotr Szulczewski. “My vision
in creating Wish was to bring affordable and accessible goods to a
consumer population that has been neglected by existing ecommerce
offerings. I am so proud of what we have achieved so far, but we
still have a long way to go.”
Mr. Szulczewski adds, “As we turn to the next chapter, I am
confident in the leadership team we have in place to realize our
vision and support Wish in this next phase of transformation and
global growth. I look forward to remaining involved in setting the
Company’s future direction as a member of the board of
directors.”
The news of Mr. Szulczewski’s transition follows a series of
C-suite appointments announced by Wish this year. Last month,
former Shutterfly, Inc. executive Vivian Liu was named Chief
Financial Officer and, earlier in the year, former Google
executives Farhang Kassaei and Tarun Jain were appointed Chief
Technology Officer and Chief Product Officer, respectively.
About Wish:
Wish 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 100 countries to over half a million 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.
Forward-Looking Statements
This 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 search for a new CEO,
timing for the CEO transition, outlook, priorities, strategic
direction and expectations regarding future growth. In some cases,
forward-looking statements can be identified by terms such as
“anticipates,” “believes,” “could,” “estimates,” “expects,”
“guidance,” “intends,” “may,” “outlook,” “plans,” “potential,”
“predicts,” “projects,” “seeks,” “should,” “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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211110006094/en/
Investor Relations: David Anhalt, Wish ir@wish.com
Media contacts: Carys Comerford-Green, Wish
press@wish.com
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