Business
Aterian Announces Management Promotions and Changes
Company is Benefiting from Improved Shipping Costs and Continues to Target Adjusted EBITDA Profitability in the Second Half of 2023 NEW YORK, Feb. 06, 2023
About this update from Aterian, Inc.
[{"type":"text","content":"Company is Benefiting from Improved Shipping Costs and Continues to Target Adjusted EBITDA Profitability in the Second Half of 2023\nNEW YORK, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”) today announced it has made several management promotions and changes that the Company believes will further streamline its operations as it continues to target Adjusted EBITDA profitability in the second half of 2023. Mihal Chaouat-Fix has been promoted to Chief Supply Chain Officer. Ms. Chaouat-Fix joined the Company in 2014 and has served as Aterian’s Chief Product Officer since September 2018. Ms. Chaouat-Fix’s role has been expanded to include oversight of all aspects of the Company’s supply chain. Tim Stanton has been promoted to Chief E-Commerce Officer. Mr. Stanton joined Aterian in September 2017, most recently serving as Aterian’s Senior Vice President of E-commerce. Prior to that, Mr. Stanton was Vice President of Marketplaces. Phil Lepper has been promoted to Senior Vice President of Revenue and is responsible for brand strategy and management of Aterian's portfolio of brands. Mr. Lepper joined Aterian in June of 2021 and most recently served as the Company’s Vice President of Revenue for hOmeLabs and Vremi Brands. “These individuals have made countless invaluable contributions to Aterian during their tenure. I am looking forward to their continued successes here,” commented Yaniv Sarig, CEO of Aterian. “We believe these changes combined with the improved shipping cost environment and our efforts to execute on our previously announced plan to liquidate higher cost inventory and protect market share allow us to remain on track to achieving Adjusted EBITDA profitability in the second half of 2023,” continued Mr. Sarig. As part of these changes, the Company also announced that it has eliminated the position of Chief Operating Officer. Anton von Rueden, who served in that position, will continue to assist the Company with the transition of responsibilities during the next few months. \"I want to thank Anton for his contributions to Aterian. We wish him success in his future endeavors,” said Mr. Sarig. Non-GAAP Financial MeasuresThe most directly comparable financial measure presented in accordance with GAAP to Adjusted EBITDA is net loss. We are unable to reconcile the forward-looking state...