Just two weeks on from the news that the Shutterstock merger with Getty Images was abandoned the Shutterstock Chief Executive Officer Paul Hennessy has stepped down from his role and from the company board of directors – ‘effective immediately’ – in what the agency is calling a ‘Leadership Transition’.
Stepping in as Interim Chief Executive Officer will be Rik Powell the agency’s Chief Financial Officer since November 2024 (see the 2024 PAN report on Rik) and will serve as CEO and CFO while the Board commences a process to identify the Company’s next permanent Chief Executive Officer.
Shutterstock say: ‘To facilitate a seamless leadership transition, Hennessy will remain with the Company in a non-executive advisory capacity through August 7, 2026. The Board is also planning to engage a strategic advisor to assist the Company in formulating its go-forward strategy.’