Wish parent company Contextlogic Inc. announced Monday that it found its new chief executive at Foot Locker Inc., and shares gained in late trading.
Vijay Talwar, most recently the CEO for Foot Locker’s
FL,
efforts in Europe and other parts of the world, will take over the CEO role at Wish as of Feb. 1, Contextlogic
WISH,
revealed. The company said in November that founder Piotr Szulczewski would step down as soon as a replacement was found, or Feb. 1, whichever came first.
Wish has struggled since going public late in 2020. Shares were caught up in meme-stock madness early in 2021, but plunged as the e-commerce company reported disappointing financial performance through the year. In the third quarter, Wish revenue fell to $368 million from more than $600 million in the same…
