- After about five years in the position
- Accolades, praise and thanks for Berg
- David Willis taking over
- Berg will remain as Executive Chairman at European Wax
- Berg said 112 words
(exechange) — Plano, Texas, August 9, 2023 — David Berg, chief executive of European Wax, leaves his position. As announced by European Wax Center Inc. in a news release and in a regulatory filing published on Wednesday, August 9, 2023, David P. Berg leaves his post as chief executive officer at the franchisor and operator of out-of-home waxing services, after about five years in the role, effective September 30, 2023.
Generally speaking, it raises questions when a CEO leaves his post at short notice.
David Berg’s duties as CEO will be taken over by David Willis, currently President and Chief Operating Officer at European Wax Center Inc.
David Berg’s move coincides with a management shake-up also involving the position of Chief Administrative Officer.
“Succession plan”
The management change is explained as follows. European Wax stated: “President and Chief Operating Officer David Willis will succeed David Berg as Chief Executive Officer (“CEO”) as part of the Company’s succession plan, effective September 30, 2023.”
Berg will remain as Executive Chairman at European Wax
European Wax stated: “David Berg will assume the newly created role of Executive Chairman of the Board of Directors (“Board”) on September 30, 2023.”
“Depart”
European Wax said: “David Berg will depart from his position as Chief Executive Officer of the Company, effective September 30, 2023.”
Share price decline since August 2021
The announcement follows a decline in European Wax Center Inc.’s share price of 16% since August 2021.
In the position of CEO since 2018
David Berg became CEO of the Company in 2018.
David P. Berg has served as the Company’s Chief Executive Officer since October 2018 and a member of the Company’s board of directors since April 2021.
Prior to joining the Company, Berg served as Chief Executive Officer of Carlson Hospitality Group from May 2015 to March 2017, where he led the Carlson corporate center and managed the global hotel business.
He also served as Chief Operating Officer of Carlson from January 2014 to April 2015.
Previously, he served as Chief Executive Officer and Chief Customer Service Officer of Z Wireless from June 2013 to January 2014, as Executive Vice President and President of Outback Steakhouse from September 2011 to May 2013, as Chief Operating Officer of GNC Holdings Inc. from September 2009 to September 2011, and as Executive Vice President and Chief Operating Officer of Best Buy International from 2002 until 2009.
He also served on the board of directors of Planet Fitness from September 2015 to May 2020.
Berg received a B.A. in Economics from Emory University, and a J.D. with honors from the University of Florida College of Law.
112 words by David Berg
In the news release announcing his departure as CEO of European Wax Center Inc., David Berg received accolades, praise and thanks.
In announcing his departure, David Berg said 112 words.
“David Willis has been my key partner”
David Berg stated: “It has been an honor to serve as European Wax Center’s CEO and I am so proud of our accomplishments that have positioned us for continued growth. Most importantly, I am thankful for the best-in-class culture we have created – where our Associates live our values, can be their authentic selves and are able to do their best work. David Willis has been my key partner in setting forth and executing our strategic roadmap. He is a world-class leader with extensive franchisee relationships and deep knowledge of our business model. I look forward to continuing to work with him and the rest of European Wax Center’s exceptional leadership team in my new role.”
Push-out Score for David Berg’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that David Berg was pushed out or felt pressure to leave his position.
exechange reached out to European Wax and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 33.2023 ($).