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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): November 7, 2024
WAYFAIR INC.
(Exact name of registrant as specified in its charter)
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| Delaware |
001-36666 |
36-4791999 |
(State or other jurisdiction of
incorporation or organization) |
(Commission
File Number) |
(I.R.S. Employer
Identification No.) |
| 4 Copley Place |
Boston |
MA |
02116 |
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(Zip Code) |
(617) 532-6100
(Registrant’s telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Trading symbol(s) |
Name of each exchange on which registered |
| Class A Common Stock, $0.001 par value per share |
W |
The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 7, 2024, Wayfair Inc. (“Wayfair” or the “Company”) announced that Chief Operating Officer Thomas Netzer will step down from his role effective December 31, 2024. Mr. Netzer will remain with Wayfair for a transition period, serving as a strategic advisor through October 2025.
The Company also announced that Chief Commercial Officer Jon Blotner will assume the role of President, Commercial and Operations effective January 1, 2025 as Wayfair further integrates customer-and supplier-focused activities with supply chain capabilities together under Mr. Blotner’s leadership.
Item 7.01. Regulation FD Disclosure.
On November 7, 2024, the Company issued a press release regarding the above-described leadership transition. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
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| Exhibit No. |
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Description |
| 99.1 |
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| 104 |
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Cover Page Interactive Data File (embedded within Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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WAYFAIR INC. |
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Date: November 7, 2024 |
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/s/ ANDREW OLIVER |
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Andrew Oliver |
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Deputy General Counsel and Assistant Secretary |
EX-99.1
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a20241107pressrelease.htm
EX-99.1
Document
Wayfair Shares Leadership Update
COO Thomas Netzer Stepping Down After Six Years; Further Integration of Customer and Supplier Teams with Supply Chain Capabilities
BOSTON, November 7, 2024 – Wayfair, the destination for all things home, today announced Chief Operating Officer Dr. Thomas Netzer will step down from his role at the end of the year.
“Thomas’ impact on Wayfair was transformative, helping establish the company as synonymous with fast shipping, exceptional customer service and cost-efficiency,” said Niraj Shah, CEO, Co-Chairman and Co-Founder of Wayfair. “Under Thomas’ leadership, we expanded our network of fulfillment centers in North America and Europe and enhanced our CastleGate logistics offering, enabling lower cost and faster delivery. He also led our efforts to achieve over $500M of run-rate cost take outs over the last couple of years to optimize our operations. Thank you, Thomas, for your remarkable contributions.”
“Shaping and working alongside such a talented team over the past six years has been a true privilege, and I’m deeply grateful for all we’ve accomplished together,” said Netzer. “Wayfair is well positioned to keep growing in both market share and customer loyalty, and I’m proud to have played a meaningful role in our shared success.”
Upon Netzer’s departure, Wayfair will further integrate customer- and supplier-focused activities with supply chain capabilities. Effective January 1, 2025, Chief Commercial Officer Jon Blotner will assume the role of President, Commercial and Operations, overseeing these combined functions to reflect an integrated organizational model. Blotner, who has been with the company since 2016, has held a variety of leadership roles at Wayfair.
“We have a tremendous opportunity to bolster relationships and deliver even greater value across our customer and supplier experiences with our world-class logistics,” said Shah. “This integration will strengthen our decision-making and enhance our ability to lead in the market. Building on the momentum we’ve gained over the last two years to be at all-time highs in market share, I’m excited about this evolution and the role it will play in solidifying our position as the top destination in the Home category.”
About Wayfair
Wayfair is the destination for all things home, and we make it easy to create a home that is just right for you. Whether you’re looking for that perfect piece or redesigning your entire space, Wayfair offers quality finds for every style and budget, and a seamless experience from inspiration to installation.
Wayfair’s family of brands includes:
•Wayfair: Every style. Every home.
•AllModern: All of modern made simple.
•Birch Lane: Classic style for joyful living.
•Joss & Main: The ultimate style edit for home.
•Perigold: The destination for luxury home.
•Wayfair Professional: A one-stop Pro shop.
Wayfair generated $11.8 billion in net revenue for the twelve months ended September 30, 2024 and is headquartered in Boston, Massachusetts with global operations.
Contacts:
Wayfair PR
Tara Lambropoulos
pr@wayfair.com
Wayfair IR
James Lamb
ir@wayfair.com
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