- Push-out Score determined
- After around 11 years in the position
- Praise and thanks for Wainwright
- Rati Sahi Levesque and Robert Julian taking over temporarily
- Search for a successor
- Wainwright said 99 words
(exechange) — San Francisco, California, June 7, 2022 — Julie Wainwright, chief executive of RealReal, leaves. As announced by RealReal Inc. in a news release and in a regulatory filing published on Tuesday, June 7, 2022, Julie Wainwright leaves her post as chief executive officer at the luxury consignment retailer, after around 11 years in the role, effective immediately.
RealReal will undertake a search for a successor.
Julie Wainwright’s duties as CEO will be taken over temporarily by Rati Sahi Levesque and Robert Julian, most recently President and Chief Operating Officer (Rati Sahi Levesque) and Chief Financial Officer (Robert Julian) at RealReal Inc., as Co-Interim Chief Executive Officers.
“Now is the right time”
Julie Wainwright’s departure from the CEO post is explained as follows. Julie Wainwright said: “The RealReal continues to make progress on its path to profitability, and I feel now is the right time for the next generation of leadership to guide the company through its next chapter.”
Precise information regarding Julie Wainwright’s future plans was not immediately available.
RealReal said: “[A]fter 11 years of leadership, its Founder Julie Wainwright has decided to step down from her role as Chief Executive Officer (“CEO”), Chairperson and member of the board of directors (the “Board”) of the Company, effective June 7, 2022.”
RealReal further said: “On June 6, 2022, Founder of The RealReal, Inc. (the “Company”) Julie Wainwright resigned from her role as Chief Executive Officer, Chairperson and member of the board of directors (the “Board) of the Company, effective June 7, 2022.”
“Not due to any disagreements”
“Ms. Wainwright’s decision to resign was not due to any disagreements with the Company,” RealReal said.
Share price decline since June 2021
The announcement follows a decline in RealReal Inc.’s share price of 83% since June 2021.
In the position of CEO since 2011
Julie Wainwright became CEO of the Company in 2011.
Julie Wainwright founded The RealReal in March 2011 and has served as the Company’s Chief Executive Officer and the Chair of the Company’s Board since March 2011.
Previously, Wainwright served as Chief Executive Officer of SmartNow.com, an online health and wellness company, from February 2008 to January 2011, as President and Chief Executive Officer of Bellamax, a photo-editing software company, from August 2003 to November 2006, and as Interim Chief Executive Officer of OntheFrontier, a firm providing strategic consulting for emerging growth countries, from 2001 to 2002.
Prior to OntheFrontier, she served as Chief Executive Officer of Pets.com, an online pet supply company, from February 1999 to January 2001.
Wainwright holds a B.S. in General Management from Purdue University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Julie Wainwright’s move on a scale of 0 to 10.
exechange reached out to RealReal and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 24.2022 ($).