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WISH CEO Piotr Szulczewski to Stepdown to further grow the business?

ContextLogic Wish 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.

Microsoft founders, Apple Founders, Google Founders, and numerous other successful businesses followed the same approach of Founder’s stepping down and allowing intelligent CEO’s step up to succeed the business over the long term.” This can be a game-changing move that WISH has come up with since the management is the heart of the business.

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