From Home Furnishing Business
Wayfair’s CFO Fleisher to Retire, Gulliver Named as CFO and CAO
Wayfair (NYSE:W), one of the world’s largest destinations for the home, has announced the upcoming retirement of Michael Fleisher, chief financial officer, and the planned appointment of Kate Gulliver to the role of chief financial officer and chief administrative officer in November.
“Michael has been a pivotal part of our leadership team for the past eight years, offering counsel far beyond his role as CFO,” said Niraj Shah, CEO, co-chairman and co-founder, Wayfair. “He helped us take the company public, stand up a world class corporate function, and navigate a global pandemic, and he has been a tremendous thought partner to me and Steve. As you would expect from Michael, he leaves us in a thoughtful way, with a transparent and long-planned timeline, a robust succession plan, and a strong team with tenured leaders.”
“It’s been an extraordinary privilege to be a part of Wayfair’s growth story and a member of this team,” said Fleisher. “I’m a 100% believer in Wayfair’s future and will proudly remain a long term shareholder. I made a commitment to myself and my family years ago to retire on this timeline and have been working to ensure a smooth transition to my successor. Kate is uniquely qualified to take on this role and to continue to propel Wayfair’s growth story.”
Gulliver joined the company as head of Investor Relations after a career at Bain Capital as an investor and at McKinsey as a consultant. She was a core part of Wayfair’s IPO and helped develop the company’s relationships with many of its current investors. Gulliver then built up the company’s Talent organization, and she has been responsible for global human capital management including recruiting, organizational design, talent management, talent analytics, compensation and learning and development. She has led the team safely throughout COVID-19. Kate holds an M.B.A. from Harvard Business School, and a B.A. from Yale University.
“Kate, Michael and I have been working side-by-side, literally, for the past eight years, and no one is better positioned to step into this role than Kate,” said Shah. “She is a trusted counselor and has been part of every major decision at the company since becoming head of Talent. She is exceptional at balancing strategic vision, financial discipline, business savvy and people leadership. I’m excited we will work even more closely together in her new capacity.”
Gulliver will formally assume the CFO and CAO role in November. At that point, Fleisher will stay on for a transition period until his retirement on January 15, 2023.
“It’s an honor to take on this role and serve Wayfair in a new capacity,” said Gulliver. “Michael has built an exceptional team and I look forward to working even more closely with the many talented individuals across finance, real estate, legal and our other key administrative functions. We have an exciting road ahead as we continue to drive the future of retail across an expansive home category and to deliver value for all of our stakeholders - including our employees, customers, suppliers and shareholders.”
With Gulliver’s move, Paul Toms, vice president, Marketplace, has been appointed to lead the Talent team as vice president, chief people officer. With more than 15 years at Wayfair, Toms is a seasoned business leader who understands the strategic importance of Talent to the company. He will assume the role on June 1 as Gulliver begins to transition roles.