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Wish Appoints Veteran Finance Executive Vivian Liu as New CFO
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
ContextLogic Inc. (WISH) has appointed Vivian Liu as Chief Financial Officer, effective November 10, 2021. Liu, who has over 20 years of experience, will oversee global financial operations and lead the merchant acquisition team. Her previous role at Shutterfly involved pivotal transformation and growth management. The CEO, Piotr Szulczewski, expressed confidence in Liu's capabilities to navigate strategic goals and enhance technology investments. This appointment is part of a series of C-suite changes aimed at strengthening Wish’s leadership.
Positive
Vivian Liu brings over 20 years of financial experience, enhancing leadership.
Liu's background includes successful transformation initiatives at Shutterfly.
Her strategic insights are expected to bolster Wish's growth and technology investments.
Negative
Transitioning to a new CFO may pose initial challenges in continuity.
Potential experience gaps in the new leadership team could affect operational cohesion.
Finance leader brings more than 20 years of private and public company experience to Wish
SAN FRANCISCO--(BUSINESS WIRE)--
ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world’s largest mobile ecommerce platforms, today announced the appointment of Vivian Liu as Chief Financial Officer, effective November 10, 2021. This is the latest in a series of C-suite appointments at Wish this year.
Vivian Liu, CFO, Wish (Photo: Business Wire)
In this role, Ms. Liu will oversee Wish’s global financial operations, including financial planning and analysis, controllership, tax, treasury, audit, reporting and investor relations. She will also lead Wish’s merchant acquisition team as Wish continues to diversify and strengthen its merchant base.
“Vivian is a seasoned CFO with extensive experience in scaling and transforming both privately and publicly held companies,” said Wish Founder and CEO, Piotr Szulczewski. “Vivian will bring a valuable perspective as we execute on our strategy and provide additional insight on our investments in technology and innovation to fuel further growth. We are delighted to welcome another high-caliber executive to our leadership team.”
Ms. Liu currently serves as Chief Financial Officer and Senior Vice President of Shutterfly, Inc., a leading platform for photography-based personalized products, where she oversees the global finance function. She played a critical role in helping Shutterfly navigate the pandemic, while transforming the business to achieve accelerated topline growth and EBITDA improvement. She re-established the corporate development function, which successfully completed the acquisition of global marketplace Spoonflower, Inc. in 2021, which significantly expanded Shutterfly’s addressable market. During her tenure, Ms. Liu also focused on driving operational efficiencies, including co-leading the company-wide implementation of an SAP platform.
“I am excited to be joining Wish at such a transformational time,” said Ms. Liu. “In the highly competitive ecommerce sector, Wish has achieved tremendous success by offering a unique mobile shopping experience that is fun, value-oriented and personalized. I look forward to applying my knowledge and expertise to help Wish deliver on its strategic goals.”
Prior to joining Shutterfly, Ms. Liu served as CFO and SVP at the printing and imaging solution company, Lexmark International, and had previously been VP of Finance, Enterprise BG at the global information and technology company, Huawei Technology Inc. Prior to Huawei, Ms. Liu spent eight years at Cisco Systems, Inc. where she held a number of senior finance positions. Earlier in her career, Ms. Liu held finance positions with Deloitte Financial Advisory Services, Goldman Sachs, and Deloitte & Touche LLP. She began her career at China Merchants Bank in Shanghai, China. Ms. Liu holds an M.B.A from the University of Washington and a B.A. from the Shanghai University of Finance and Economics. She is a chartered financial analyst and a certified public accountant.
Ms. Liu will report directly to Founder and CEO, Mr. Szulczewski. Brett Just and Jennifer Oliver will continue in their previous roles, reporting to Ms. Liu.
About Wish:
Wish brings an affordable and entertaining shopping experience to millions of consumers around the world. Since our founding in San Francisco in 2010, we have become one of the largest global ecommerce platforms, connecting millions of value-conscious consumers in over 100 countries to over half a million merchants globally. Wish combines technology and data science capabilities and an innovative discovery-based mobile shopping experience to create a highly-visual, entertaining, and personalized shopping experience for its users. For more information about the company or to download the Wish mobile app, visit www.wish.com or follow @Wish on Facebook, Instagram and TikTok or @WishShopping on Twitter and YouTube.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding Wish's outlook, priorities, strategic direction, expectations regarding partnerships, and growth opportunities. In some cases, forward-looking statements can be identified by terms such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “guidance,” “intends,” “may,” “outlook,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” “would” or similar expressions and the negatives of those terms. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Further information on these and additional risks that could affect Wish’s results is included in its filings with the Securities and Exchange Commission (“SEC”), including its Annual Report for 2020 on Form 10-K filed on March 25, 2021 and its Form 10-Q for the second quarter of 2021 filed on August 12, 2021, and future reports that Wish may file with the SEC from time to time, which could cause actual results to vary from expectations. Any forward-looking statement made by Wish in this news release speaks only as of the day on which Wish makes it. Wish assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.
What is the significance of Vivian Liu's appointment as CFO of WISH?
Vivian Liu's appointment as CFO is significant as she brings extensive financial expertise and a successful track record in transforming businesses, which may enhance Wish's operational strategy and growth.
When does Vivian Liu officially start as CFO of WISH?
Vivian Liu officially starts as CFO of ContextLogic Inc. (WISH) on November 10, 2021.
What are Vivian Liu's responsibilities as the new CFO at WISH?
As CFO, Vivian Liu will oversee Wish's global financial operations, including financial planning, tax, treasury, and the merchant acquisition team.
How might Vivian Liu’s experience impact WISH's future?
Liu's experience in scaling companies and achieving operational efficiencies may positively impact WISH's strategic growth and financial performance.
What prior roles did Vivian Liu hold before joining WISH?
Before joining WISH, Vivian Liu served as CFO at Shutterfly, and held senior finance positions at Lexmark, Huawei, and Cisco.
