Shutterstock CEO Hennessy steps down weeks after failed Getty deal

Shutterstock, Inc.
Getty Images Holdings, Inc. Class A
Shake Shack, Inc. Class A

Shutterstock, Inc.

SSTK

0.00

Getty Images Holdings, Inc. Class A

GETY

0.00

Shake Shack, Inc. Class A

SHAK

0.00

July 13 (Reuters) - Shutterstock SSTK.N said on Monday Paul Hennessy had stepped down as chief executive officer and board member, effective immediately.

Here are some details:

  • Last month, Shutterstock's planned $3.7 billion merger with rival Getty Images GETY.N collapsed after the UK competition regulator required it to sell its editorial business to secure approval.

  • Shutterstock's finance chief Rik Powell will take over as interim CEO while continuing as CFO during the transition.

  • In an SEC filing, the company said Hennessy's departure was not related to any disagreements with the company over its operations, policies or practices.

  • Hennessy leaves the company after four years as CEO, having joined Shutterstock in 2022, prior to which he was chief executive of pre-owned car retailer Vroom.

  • Shutterstock's board plans to engage an adviser to help it plan the way forward.


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