Shutterstock announced a significant leadership transition, appointing its founder and Chairman, Jonathan Oringer, as Chief Executive Officer, effective October 28, 2026. Hichame Assi, the former CEO of Envato (acquired by Shutterstock), was concurrently appointed as President and Chief Operating Officer. Rik Powell, who served as Interim CEO, will resume his role as Chief Financial Officer. In conjunction with the leadership changes, the company canceled its upcoming Q3 2026 earnings call to evaluate its strategic direction.
Key Details
- CEO Appointment: Jonathan Oringer returns as CEO with an annual base salary of $1,000,000, an increase from his previous $1.00 salary. He will not be eligible for an annual cash bonus for the remainder of fiscal 2026 or for fiscal 2027.
- President & COO Appointment: Hichame Assi was appointed with a fixed annual remuneration of AUD 775,000. He will receive restricted stock unit (RSU) awards with a target value of $1.5 million and will be eligible for an annual bonus of up to 60% of his fixed pay starting in fiscal 2027.
- Strategic Review: The company canceled its previously scheduled third quarter 2026 earnings call on November 5, 2026, as it evaluates its strategic direction and priorities under the new leadership.