Wayfair on Thursday announced that Chief Operating Officer Thomas Netzer will step down from the role at the end of 2024. He has been in the position since 2019 and with the company for about six years.
"Under Thomas' leadership, we expanded our network of fulfillment centers in North America and Europe and enhanced our CastleGate logistics offering, enabling lower cost and faster delivery,” CEO Niraj Shah said in a statement. “He also led our efforts to achieve over $500 [million] of run-rate cost take outs over the last couple of years to optimize our operations.”
The online home retailer will further integrate its customer and supplier-focused operations with its supply chain upon Netzer’s departure. On Jan. 1, Jon Blotner will take on the role of president of commercial and operations and will oversee those combined functions. Blotner has been with Wayfair since 2016 and is currently the company’s chief commercial officer, according to a company press release.
Earlier this month, the company released its third-quarter earnings, which saw net revenue fall 2% year over year to $2.9 billion. However, the company narrowed its losses — operating loss declined 51% to $74 million while net loss fell 55% to $74 million.
The company also recently announced plans to lay off over 200 employees as it closes its returns center and outlet store in Florence, Kentucky, at the end of 2025.
