Shutterstock appoints Jon Oringer as CEO and Hichame Assi as President and COO
Founder Oringer returns to lead strategy while Assi manages operations. Shutterstock cancels its Q3 earnings call amid strategic review.
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In short: Shutterstock's Getty merger collapsed, triggering a CEO transition, a $155.9M loss, and a $35M FTC settlement.
Founder Oringer returns to lead strategy while Assi manages operations. Shutterstock cancels its Q3 earnings call amid strategic review.
Results will be released before the market opens. A live webcast conference call occurs at 8:30 a.m. ET for discussion.
Net loss was $155.9 million after a $173.7 million goodwill impairment, and management withdrew guidance after terminating the Getty Images merger.
The Board aims to reduce debt and strengthen financial flexibility for long-term shareholder value.
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