Wayfair Announces CFO Transition Plan
May 05 2022 - 6:55AM
Business Wire
Michael Fleisher to retire; Kate Gulliver to be
named CFO and CAO
Wayfair (NYSE:W), one of the world’s largest destinations for
the home, today announced the upcoming retirement of Michael
Fleisher, Chief Financial Officer, and the planned appointment of
Kate Gulliver to the role of Chief Financial Officer and Chief
Administrative Officer in November.
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Wayfair Names Kate Gulliver Incoming CFO
(Photo: Business Wire)
“Michael has been a pivotal part of our leadership team for the
past eight years, offering counsel far beyond his role as CFO,”
said Niraj Shah, CEO, Co-Chairman and Co-Founder, Wayfair. “He
helped us take the company public, stand up a world class corporate
function, and navigate a global pandemic, and he has been a
tremendous thought partner to me and Steve. As you would expect
from Michael, he leaves us in a thoughtful way, with a transparent
and long-planned timeline, a robust succession plan, and a strong
team with tenured leaders.”
“It’s been an extraordinary privilege to be a part of Wayfair’s
growth story and a member of this team,” said Fleisher. “I’m a 100%
believer in Wayfair’s future and will proudly remain a long term
shareholder. I made a commitment to myself and my family years ago
to retire on this timeline and have been working to ensure a smooth
transition to my successor. Kate is uniquely qualified to take on
this role and to continue to propel Wayfair’s growth story.”
With Michael’s decision to retire, the company will be promoting
Kate Gulliver, VP, Chief People Officer, to the role of SVP, CFO
and CAO, leading Wayfair’s Finance, Legal, Talent, Real Estate and
Corporate Affairs teams. Gulliver joined the company as head of
Investor Relations after a career at Bain Capital as an investor
and at McKinsey as a consultant. She was a core part of Wayfair’s
IPO and helped develop the company’s relationships with many of its
current investors. Gulliver then built up the company’s Talent
organization, and she has been responsible for global human capital
management including recruiting, organizational design, talent
management, talent analytics, compensation and learning and
development. She has led the team safely throughout COVID-19. Kate
holds an M.B.A. from Harvard Business School, and a B.A. from Yale
University.
“Kate, Michael and I have been working side-by-side, literally,
for the past eight years, and no one is better positioned to step
into this role than Kate,” said Shah. “She is a trusted counselor
and has been part of every major decision at the company since
becoming head of Talent. She is exceptional at balancing strategic
vision, financial discipline, business savvy and people leadership.
I’m excited we will work even more closely together in her new
capacity.”
Gulliver is being named incoming CFO today and will formally
assume the CFO and CAO role in November. At that point, Fleisher
will stay on for a transition period until his retirement on
January 15, 2023.
“It’s an honor to take on this role and serve Wayfair in a new
capacity,” said Gulliver. “Michael has built an exceptional team
and I look forward to working even more closely with the many
talented individuals across finance, real estate, legal and our
other key administrative functions. We have an exciting road ahead
as we continue to drive the future of retail across an expansive
home category and to deliver value for all of our stakeholders -
including our employees, customers, suppliers and
shareholders.”
With Gulliver’s move, Paul Toms, VP, Marketplace, has been
appointed to lead the Talent team as VP, Chief People Officer. With
more than 15 years at Wayfair, Toms is a seasoned business leader
who understands the strategic importance of Talent to the company.
He will assume the role on June 1 as Gulliver begins to transition
roles.
About Wayfair
Wayfair is the destination for all things home: helping
everyone, anywhere create their feeling of home. From expert
customer service to the development of tools that make the shopping
process easier to carrying one of the widest and deepest selections
of items for every space, style, and budget, Wayfair gives everyone
the power to create spaces that are just right for them.
The Wayfair family of brands includes:
- Wayfair: Everything home – for a space that’s all you.
- Joss & Main: The ultimate style edit for home.
- AllModern: All of modern, made simple.
- Birch Lane: A fresh take on the classics.
- Perigold: An undiscovered world of luxury design.
- Wayfair Professional: Just right for Pros.
Wayfair generated $13.7 billion in net revenue for the full year
2021. Headquartered in Boston, Massachusetts with operations
throughout North America and Europe, Wayfair employs approximately
18,000 people.
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version on businesswire.com: https://www.businesswire.com/news/home/20220505005168/en/
Media Relations Contact: Jane Carpenter PR@wayfair.com
Investor Relations Contact: IR@wayfair.com
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