Dive Brief:
- Online luxury resale marketplace The RealReal announced last week its chief financial officer, Robert Julian, will step down from the position after two years.
- The decision is effective Jan. 31 or until a new CFO assumes the role. If a new CFO is chosen before January, Julian will remain an employee and serve as an executive adviser to The RealReal through Jan. 31.
- Julian agreed to offer limited consulting services to the retailer after his departure until June 30. The company’s board of directors will hire an executive search firm to find a new CFO, the company said.
Dive Insight:
After two years as The RealReal's CFO and a brief stint as its interim co-CEO, Julian is exiting the company.
The announcement follows leadership changes earlier this year. At the beginning of 2023, The RealReal hired John Koryl as its CEO, filling an eight-month long vacancy for a permanent replacement left by founder Julie Wainwright, who stepped down from the role in June 2022.
“Robert and I have worked closely together since my arrival as CEO earlier this year, and I have deeply appreciated his counsel and leadership,” Koryl said in a statement. “As we announced last quarter, we remain committed to our key initiatives and believe we are on the right path.”
The RealReal has introduced several initiatives as it works toward reaching profitability. The retailer in February announced layoffs impacting 7% of its workforce and in March said it was winding down its beauty sales.
The company also announced it would close stores in San Francisco, Chicago, Atlanta and Austin, Texas. The RealReal also shuttered two consignment offices in Miami and Washington, D.C., as well as reduced office space in both San Francisco and New York City.
