Rewritten Article
Newly appointed marketing chief for Wayfair announced.
Swapping Roles in Wayfair's C-Suite
Let's dish about some corporate shuffle at Wayfair! According to a recent post from CEO Niraj Shah, their Chief People Officer (CPO) has recently swapped roles, taking on the Chief Marketing Officer (CMO) position, effective starting Monday.
Sadly, CMO Bob Sherwin decided to call it quits on Aug. 11, after a decade with the home company. Stepping into Sherwin's shoes as the new CMO, we've got Paul Toms on deck, previously serving as the CPO at Wayfair for over a year. Toms will now report to incoming Chief Commercial Officer Jon Blotner.
Entering the scene as Wayfair's new CPO is Ryan Gilchrist, who's been with the company since 2016. Chief Financial and Administrative Officer Kate Gulliver will be Gilchrist's new boss.
Sherwin's departure marks the end of a career spent growing various aspects of Wayfair's business, such as expanding its omnichannel presence. CEO Niraj Shah had nothing but praise for Sherwin's contributions to the company, crediting him with the growth of Wayfair from $900 million in direct revenue to over $12 billion during his tenure.
Taking on the CMO role, Toms brings over 15 years of experience with Wayfair under his belt. Gilchrist, on the other hand, has served in various positions at Wayfair since 2016, most recently as the vice president and global head of central talent since January 2022.
In June, Wayfair announced that Steve Oblak, the Chief Commercial Officer, planned to retire after 14 years with the company. Blotner took over as successor, bringing over six years of experience at the company, including leadership roles in global merchandising, private labels and more.
With the change in role for the Chief Commercial Officer, Wayfair also revealed that its quarter-to-date gross revenue had shown some improvements, landing in the negative mid-single-digit percentage range year over year.
The latest C-suite change comes a couple of months after Wayfair reported its first-quarter earnings, with their net revenue dropping 7.3% year over year to $2.8 billion and their net loss increasing 11.3% to $355 million. Additionally, Wayfair's active customer base declined 14.6% to 21.7 million.
We'll keep you posted on any further updates from Wayfair's C-suite! Stay tuned. 😊🛋️
- The transition in Wayfair's C-suite continues, as the former Chief Marketing Officer, Bob Sherwin, has resigned after a decade, making way for Paul Toms to take over, who was previously the Chief People Officer.
- The vacated Chief People Officer position has been filled by Ryan Gilchrist, who has been with Wayfair since 2016 and will now report to Chief Financial and Administrative Officer Kate Gulliver.
- Toms, bringing over 15 years of experience with Wayfair, will now lead the marketing division and report to the incoming Chief Commercial Officer Jon Blotner.
- Sherwin's departure marks the conclusion of a career at Wayfair, during which he contributed significantly to the growth of the company's business, including the expansion of its omnichannel presence.
- The latest C-suite change comes amidst a challenging financial period for Wayfair, following the reporting of a drop in net revenue and an increase in net loss in their first-quarter earnings.
- As Wayfair navigates these financial challenges, it has announced some improvements in its quarter-to-date gross revenue, landing in the negative mid-single-digit percentage range year over year.
