San Francisco (August 9, 2022) – ContextLogic Inc. (d/b/a Wish or the “Company”) (NASDAQ: WISH), one of the world’s largest mobile ecommerce platforms, today announced changes to its Board of Directors and enhancements to its management team. Piotr Szulczewski has resigned from the Company’s Board of Directors, and, in conjunction, the Board has elected Larry Kutscher as an independent director and a member of the audit committee, both effective immediately.
Wish also announced a number of executive-level promotions, effective as of August 3, 2022:
Vivian Liu, in addition to her current role as Chief Financial Officer, has been promoted to Chief Operating Officer
Tarun Jain has been promoted to Chief Customer Officer, in addition to his current role as Chief Product Officer
Jerry Louis has been promoted from Vice President of Engineering to Wish’s interim Chief Technology Officer
Mauricio Monico has been promoted from Vice President of Product Management, Merchant & Logistics to Chief Merchant Officer, Product
Devang Shah, in addition to his current role as General Counsel and Secretary, has been promoted to Chief Administrative Officer
We are excited to welcome Larry to the Wish Board of Directors. His broad operational leadership experience and deep understanding of value creation and turnarounds will be hugely valuable at such an important time in our Company’s lifecycle,” said Mr. Talwar. “Additionally, I’m thrilled to be able to promote so many of our own people and recognize our executive team’s relentless focus and determination as we write the next chapter of Wish together.”
“Under Piotr’s leadership, Wish grew from a small challenger brand into a leading global marketplace. The foundations he set have put us in good stead to compete and thrive on a global stage,” said Vijay Talwar, Wish’s Chief Executive Officer. “On behalf of the entire Board and Wish’s management team, I thank Piotr for his contributions and dedicated service to the Company.”
“I am so proud of what we have achieved at Wish over the past 12 years,” said Mr. Szulczewski. “When we set out on our journey, we wanted to redefine the ecommerce experience by building a platform that was both fun and entertaining, and also affordable and accessible to all. We have come a long way, and it is now time to pass the baton to the team that will guide Wish during its next stage of growth.”
Mr. Szulczewski has converted all of his high voting Class B shares into Wish Class A shares. As a result, all other Class B shares will automatically convert into Class A shares, simplifying the Company’s structure from a dual to a single class structure and establishing voting rights parity for all Wish shareholders. This change reduces his outstanding voting rights from approximately 62% to approximately 8%.
Mr. Szulczewski founded Wish and served as Chief Executive Officer from the Company’s inception in July 2010 through February 2022. He also served as Chairman of the Board from inception until April 2021, and then as a director until now.
About Larry Kutscher
Mr. Lawrence (Larry) Kutscher is currently Chief Executive Officer at A Place for Mom, Inc., the leading technology-driven senior living referral platform. With over 20 years of executive leadership driving transformational growth for data and technology companies, Larry previously served as CEO of TravelClick and Register.com, General Manager of the Small Business Group at Dun & Bradstreet, Managing Director with Goldman Sachs Wealth Management, and began his career in several leadership roles at American Express. Larry currently serves on the Board of A Place for Mom and previously served on the Boards of Thayer Ventures Acquisition Corporation (now Inspirato Incorporated) and ReachLocal. Mr. Kutscher received a bachelor’s degree in political science from Brown University and his M.B.A. from Columbia University.
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 to hundreds of 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.
A Place for Mom is the leading online platform connecting families searching for senior care with a team of experienced local advisors providing insight-driven, personalized solutions. As the nation’s leading senior advisory service, A Place for Mom has a mission to enable caregivers to make the best senior living decisions. With hundreds of senior living experts nationwide, A Place for Mom helps hundreds of thousands of families every year navigate the complexities of finding the right senior living solution for their loved ones across home care, independent living, memory care, assisted living, and more. A Place for Mom’s service is provided at no cost to families because it is paid for by the senior living communities and home care providers in its network. For more information, please visit aplaceformom.com.
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