StockX announced that Scott Cutler has chosen to step down as Chief Executive Officer (CEO) effective December 31, 2024. The Board of Directors has selected Greg Schwartz, the company’s co-founder, president & COO, as the next StockX CEO. Cutler — who is one of StockX’s earliest investors and served as an advisor to the company prior to 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.
Having co-founded the company in 2016 with Dan Gilbert, Josh Luber, and Chris Kaufman, Schwartz has served as StockX’s COO since its inception. Under his leadership — with oversight of key functions such as product & tech, global operations, and marketing — the company delivered industry-leading features, deepened relationships with buyers and sellers, and advanced its vision and values. In his role as CEO, he will continue to extend the company’s reach through 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.”
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Over the last five years, StockX saw rapid growth as the company expanded operations into new categories, entered new markets, and scaled to serve tens of millions of customers annually. Cutler helmed the company through periods of hypergrowth, managed through a global pandemic, and made the tough calls required to mitigate the impacts of macroeconomic headwinds. A longtime veteran of marketplaces, he joined StockX to scale it for growth with the ultimate goal of returning it to being a founder-led company. During his time as CEO, he built a leadership team ready to take StockX into its next chapter and worked closely with Schwartz in preparation for the eventual transition.
“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 & 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.”
SOURCE: PRNewswire