Ben Zilberman, CEO and co-founder of Pinterest.
Arasia Vilalabas Getty Images
Longtime Pinterest CEO Ben Zilberman is resigning, the company announced Tuesday.
Shares jumped more than 5% in trading during non-business hours.
Bill Reddy, who was previously in charge of Google’s commercial business, has been taking over since Wednesday. Prior to joining Google, Reedy was the Executive Vice President and Chief Operating Officer of PayPal.
Pinterest has more than 400 million active users monthly and has long focused on its advertising business. But in recent years it has shifted to make e-commerce a higher priority.
Earlier this month, for example, the company announced the acquisition of The Yes, a trading platform for fashion brands based on artificial intelligence.
“In our next chapter, we focus on helping Pinners buy, try and act on all the great ideas they see. Bill is a great leader for this transition. He is a builder who has a deep understanding of commerce and payments,” he said. Zilberman. statement.
Zilberman, who co-founded the company in 2010 and published it in April 2019, will become the company’s first executive chairman.
“As a person who has spent most of his career in trading and payments, it’s so clear to me that Pinterest has the potential to create something unique – something special,” Reddy said in a message on LinkedIn.
Shares of Pinterest have fallen 45.8% since the beginning of the year and nearly 76% from a 52-week high.
Pinterest CEO Ben Zilberman is resigning, and shares are rising
Source link Pinterest CEO Ben Zilberman is resigning, and shares are rising