Business
Wix Announces Changes to Board of Directors to Support New Phase of Value Creation
Gavin Patterson, previously of Salesforce and Francesco de Mojana, previously of Permira, to join Wix's Board of Directors NEW YORK, March 8, 2023
About this update from Wix.com Ltd.
[{"type":"text","content":"Gavin Patterson, previously of Salesforce and Francesco de Mojana, previously of Permira, to join Wix's Board of Directors\nNEW YORK, March 8, 2023 /PRNewswire/ -- Wix (Nasdaq: WIX), today announced changes to its Board of Directors. The announced changes are part of Wix's track record of regularly refreshing and enhancing its board to closely align with the changing operating environment as well as its current strategic objectives, balancing stability and expertise with change and adaptability. Additionally, these changes support Wix's continued transition to a new phase of value creation focused on product-led growth with sustained profitability and a commitment to achieving \"Rule of 40\" in 2025.\n\n \n \n \n \n \n \n\n \nIn these efforts, Wix announced the appointment of Gavin Patterson and Francesco de Mojana to Wix's Board of Directors. In addition to their general board responsibilities, de Mojana will join the Audit Committee and Patterson will join the Compensation Committee. This reinforces Wix's commitment to a strong, independent board focused on the long-term performance of the Company.\nWix also announced the resignation of Yuval Cohen and Roy Saar from the Board after many years of dedicated service. These changes are effective as of March 8, 2023.\nThese new board members were carefully and strategically chosen to guide and support the Wix management team with key incremental skill sets. Gavin's history of operating experience and strategic execution as well as his expertise in enterprise software will be invaluable in guiding the Wix executive team as the company continues to grow. With a strong track record of implementing operating efficiencies and cost management, Francesco will bring a valuable set of skills to Wix's management at a time when improving margins is a key priority. These added diverse experiences support the Company's continued focus on balancing growth and sustained profitability and will help maximize Wix's long-term potential.\nGavin Patterson brings to Wix decades of extensive operating experience across software, media, telecommunications and technology. Patterson has a proven track record of strategic execution and leadership as the former President and Chief Revenue Officer at Salesforce, where he led worldwide sales and distribution of Salesforce products and services. In addition, as ...