Wayfair -2.6% as COO, CTO announce retirements

|About: Wayfair Inc. (W)|By:, SA News Editor

Wayfair (NYSE:W) shares are off 2.6% postmarket after announcing retirements in its C-suite.

Chief Operating Officer James Savarese and Chief Technology Officer John Mulliken will retire from the company this year after more than a decade of service each.

In a planned transition, Thomas Netzer (European COO) will succeed Savarese as the company's COO, and relocate from Berlin to Boston. Allan Lyall will be promoted to chief global supply chain officer.

Meanwhile, former Google exec and current Wayfair director Jim Miller will serve as interim CTO while the company conducts an external search.

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