Pinterest co-founder Ben Silbermann has stepped down as the CEO after running the company for the past 12 year.
Silbermann is replaced by online commerce expert Bill Ready as the new Chief Executive Officer and a member of the board of directors.
Ready joins the company from Google where he saved as president of commerce and payments. He also severed in various senior leadership roles at PayPal, including Executive Vice President and Chief Operating Officer.
“Building Pinterest with such a wildly talented, kind and creative team has been the gift of a lifetime,” said Silbermann.
“Today, Pinterest inspires hundreds of millions of people with ideas for every aspect of their lives. We’ve built a growing global business that puts the well-being of our users at the core of everything we do. And we’re just getting started.”
Ready has shown his excitement about his new position at Pinterest.
“There’s no better time to join Pinterest,” said Ready.
“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. I look forward to working closely with Ben, the Board and the rest of the leadership team to capitalise on the many opportunities ahead and usher in Pinterest’s next chapter of growth and success.”
According to the company statement, “Silbermann will transition to the newly created role of Executive Chairman.”
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