StockX announced that its CEO, Scott Cutler, has chosen to step down at the close of the year, succeeded by the online sneaker marketplace’s Co-founder, President and Chief Operating Officer, Greg Schwartz.
Cutler, one of StockX’s earliest investors and served as an advisor to the company before joining as CEO in June 2019, will resume his role as advisor and will work closely with Schwartz for the balance of the year to ensure a smooth transition. Schwartz will assume the role effective January 1, 2025.
Schwartz, who co-founded the company in 2016 with Dan Gilbert, Josh Luber, and Chris Kaufman, has served as its COO since then. During this time, he has been credited with delivering “industry-leading features” and deepening relationships with buyers and sellers. As CEO, he will drive brand growth, category diversification and market expansion.
“As a co-founder of the company, I have had the opportunity to work with an incredible team across different functions and have worn a number of hats in addition to my role as COO, but there is no role that I feel more honored to assume than that of StockX’s CEO,” said Schwartz. “From the moment we launched the business in Detroit in 2016, we knew we were building something special and to see how far we’ve come has been one of the achievements of which I’m most proud. I am grateful to have been able to attract a talent like Scott and to have had the benefit of his leadership. As we look to the next phase of the StockX journey, I intend to double down on our brand growth and product innovation to deliver best-in-class customer experiences that will help us to continue to scale globally.”
StockX reported “rapid growth” over the last five years as the company expanded operations into new categories, entered new markets, and scaled the business.
Cutler said his “ultimate goal” over his tenure has been to return the company to being a founder-led company.
“There is no more qualified individual to step into the office than Greg— from day one, he served as a partner to me in scaling the business, advancing its operations, and strengthening its brand position,” said Cutler. “As an early investor and advisor, taking on the role of CEO was a truly full-circle moment for me, and I couldn’t be prouder of all that we accomplished over the last five years. I have every confidence that Greg will build on the work that we started and take StockX to the next level.”
Stacy Brown-Philpot, StockX board member and chair of its Nominating, Governance & Impact Committee said, “On behalf of the board, I want to thank Scott for his valuable contributions to StockX over the past five years. During his tenure, we made significant strides in solidifying operational excellence and cementing the company’s leadership position in an increasingly competitive space. He efficiently scaled the business with an eye toward putting it in a strong position for his successor. Without question, Greg is ready to take the reins as our CEO—he will work tirelessly to strengthen our foundation and move StockX into its next chapter with the fervor that only a founder brings to the table.”
Image courtesy StockX
