RealReal launches search for new CEO after founder steps down

RealReal Inc. said Tuesday its chairwoman, founder and chief executive officer Julie Wainwright is stepping down on Tuesday, 11 years after she launched the company. “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,” Wainwright said. The San Francisco-based online marketplace for luxury goods re-sales named two interim CEOs while the company hires an executive search firm to identify a new CEO. Wainwright will remain in an advisory role through the end of 2022. CFO Robert Julian and COO Rati Sahi Levesque were named interim CEOs. RealReal’s lead independent director Rob Krolik said Wainwright has been a “true pioneer” in the business. Shares of RealReal are down 75% so far in 2022, compared to a drop of 22.9% by the Nasdaq .

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