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Wayfair announced this on Thursday Chief Operating Officer Thomas Netzer will resign from the role at the end of 2024. He did that has been in this position since 2019 and approximately six years with the company.
“Under Thomas’ leadership, we have expanded our network of fulfillment centers across North America and Europe and enhanced our CastleGate logistics offering, enabling lower costs and faster delivery,” said CEO Niraj Shah said in a statement. “He also led our efforts to realize more than $500 (million) in run-rate costs over the past several years to optimize our operations.”
The online home retailer will further integrate its customer and supplier-facing activities with its supply chain upon Netzer’s departure. On January 1, Jon Blotner will assume the role of President, Commercial and Operations, overseeing these combined functions. Blotner has been with Wayfair since 2016 and is currently the company’s Chief Commercial Officer, according to a company press release.
Earlier this month, the company announced its third-quarter results net sales are down 2% year over year to $2.9 billion. However, the company trimmed its losses: operating loss fell 51% to $74 million, while net loss fell 55% to $74 million.
The company also recently announced this plans to lay off more than 200 employees as it closes its returns center and outlet store in Florence, Kentucky, at the end of 2025.