Ben Silbermann, the co-founder, CEO and president of Pinterest, will transition to the new executive chairman role, a press release from the social media company said Tuesday (June 28).
In his place, Bill Ready, an eCommerce expert, will be the new CEO, and will be on the board of directors, as of Wednesday.
Ready has been Google’s president of commerce since 2020, and was in charge of the company’s vision, strategy and delivery of commerce products.
Ready was also in charge of various leadership roles for PayPal, including being executive vice president and chief operating officer.
“There’s no better time to join Pinterest,” Ready said. “I have long admired the brand and platform that Ben and the Pinterest team have created and everything the company stands for. I am excited to build on that foundation to further scale the company’s ecosystem and drive increased value for shareholders.
“Having built multiple businesses from zero and operated at the scale of billions of users, I have a deep appreciation for what it takes to scale a business like this to the next level.”
Meanwhile, Silbermann said the next chapter of Pinterest will be focused on “helping Pinners buy, try and act on all the great ideas they see.”
“Bill is a great leader for this transition. He is a builder who deeply understands commerce and payments. And he shares our passion for creating a positive corner of the Internet. I’m confident he’s going to be an outstanding CEO.”
See also: Pinterest Aims to Improve Product Discovery With New Ad Tools
PYMNTS wrote that Pinterest recently debuted two ad products, one, Idea Ads, which allows brands to use Idea Pins as full-screen, multi-page presentations with custom links.
The company will also add a Paid Partnership tagging process, which will add another way for creators to monetize their Pins.
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