- Push-out Score determined
- After 14 years in the position
- Praise for Silbermann
- Bill Ready taking over
- Silbermann will remain as Executive Chairman at Pinterest
- Silbermann said 120 words
(exechange) — San Francisco, California, June 28, 2022 — Ben Silbermann, chief executive of Pinterest, leaves his position. As announced by Pinterest Inc. in a news release and in a regulatory filing published on Tuesday, June 28, 2022, Benjamin (Ben) Silbermann leaves his post as chief executive officer at the image sharing and social media service, after 14 years in the role, effective June 29, 2022.
Ben Silbermann’s duties as CEO will be taken over by William J. (Bill) Ready, most recently President of Commerce, Payments & Next Billion Users at Google.
The fact that Ben Silbermann’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
No reason given
In the announcement, Pinterest did not explicitly explain the reason for the move.
Silbermann will remain as Executive Chairman at Pinterest
“[C]o-founder, Chief Executive Officer and President, Ben Silbermann will transition to the newly created role of Executive Chairman, and online commerce expert Bill Ready will become Chief Executive Officer and a member of the Board of Directors, effective June 29, 2022,” Pinterest said.
Share price decline since June 2021
The announcement follows a decline in Pinterest Inc.’s share price of 68% since June 2021.
In the position of CEO since 2008
Ben Silbermann became CEO of the Company in 2008.
Benjamin Silbermann is a Co-Founder of Pinterest and has served as the Company’s Chief Executive Officer since 2008 and also the Company’s President since 2012.
Prior to co-founding Pinterest, Silbermann worked at Google, a technology company, from 2006 to 2008.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Ben Silbermann’s move on a scale of 0 to 10.
exechange reached out to Pinterest and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 27.2022 ($).
