ContextLogic Appoints Finance Executive Michael Scarola as New Chief Financial Officer
ContextLogic (OTC: LOGC) has appointed Michael Scarola as its new Chief Financial Officer, effective June 30, 2025. Scarola, who currently serves as CFO, COO, and Chief Compliance Officer at Altai Capital, brings 17 years of experience in back-office operations, fund accounting, compliance, and investor relations.
The appointment aligns with ContextLogic's strategy to streamline operations while pursuing value maximization through organic growth and acquisitions. Scarola, a Certified Public Accountant with a BS in Commerce from the University of Virginia, will report directly to CEO Rishi Bajaj, with whom he has previously worked for over 14 years at Altai Capital.
ContextLogic (OTC: LOGC) ha nominato Michael Scarola come nuovo Chief Financial Officer, con effetto dal 30 giugno 2025. Scarola, attualmente CFO, COO e Chief Compliance Officer presso Altai Capital, porta con sé 17 anni di esperienza in operazioni di back-office, contabilità dei fondi, conformità e relazioni con gli investitori.
La nomina è in linea con la strategia di ContextLogic di ottimizzare le operazioni perseguendo al contempo la massimizzazione del valore attraverso la crescita organica e le acquisizioni. Scarola, Commercialista Certificato con una laurea in Commercio conseguita all'Università della Virginia, riporterà direttamente al CEO Rishi Bajaj, con cui ha collaborato per oltre 14 anni presso Altai Capital.
ContextLogic (OTC: LOGC) ha nombrado a Michael Scarola como su nuevo Director Financiero, con efecto a partir del 30 de junio de 2025. Scarola, quien actualmente es CFO, COO y Director de Cumplimiento en Altai Capital, aporta 17 años de experiencia en operaciones de back-office, contabilidad de fondos, cumplimiento y relaciones con inversores.
El nombramiento se alinea con la estrategia de ContextLogic de optimizar las operaciones mientras persigue la maximización del valor mediante crecimiento orgánico y adquisiciones. Scarola, Contador Público Certificado con una licenciatura en Comercio de la Universidad de Virginia, reportará directamente al CEO Rishi Bajaj, con quien ha trabajado durante más de 14 años en Altai Capital.
ContextLogic (OTC: LOGC)는 2025년 6월 30일부로 마이클 스카롤라를 신임 최고재무책임자(CFO)로 임명했습니다. 현재 Altai Capital에서 CFO, COO, 최고준법감시책임자(CCO)를 맡고 있는 스카롤라는 백오피스 운영, 펀드 회계, 준법감시 및 투자자 관계 분야에서 17년의 경력을 보유하고 있습니다.
이번 임명은 유기적 성장과 인수를 통한 가치 극대화를 추구하면서 운영 효율성을 강화하려는 ContextLogic의 전략과 일치합니다. 버지니아 대학교에서 상업학 학사 학위를 취득한 공인회계사인 스카롤라는 CEO 리시 바자지에게 직접 보고할 예정이며, 두 사람은 Altai Capital에서 14년 이상 함께 일한 경험이 있습니다.
ContextLogic (OTC : LOGC) a nommé Michael Scarola en tant que nouveau Directeur Financier, à compter du 30 juin 2025. Scarola, qui occupe actuellement les postes de CFO, COO et Directeur de la Conformité chez Altai Capital, possède 17 ans d’expérience dans les opérations back-office, la comptabilité des fonds, la conformité et les relations investisseurs.
Cette nomination s’inscrit dans la stratégie de ContextLogic visant à rationaliser ses opérations tout en recherchant une maximisation de la valeur via la croissance organique et les acquisitions. Scarola, expert-comptable diplômé avec un Bachelor en Commerce de l’Université de Virginie, reportera directement au CEO Rishi Bajaj, avec qui il a déjà collaboré pendant plus de 14 ans chez Altai Capital.
ContextLogic (OTC: LOGC) hat Michael Scarola zum neuen Chief Financial Officer ernannt, wirksam ab dem 30. Juni 2025. Scarola, der derzeit als CFO, COO und Chief Compliance Officer bei Altai Capital tätig ist, bringt 17 Jahre Erfahrung in den Bereichen Back-Office-Operationen, Fondsbuchhaltung, Compliance und Investorenbeziehungen mit.
Die Ernennung steht im Einklang mit ContextLogics Strategie, die Abläufe zu straffen und gleichzeitig durch organisches Wachstum und Akquisitionen eine Wertmaximierung anzustreben. Scarola, ein zertifizierter Wirtschaftsprüfer mit einem Bachelor in Commerce von der University of Virginia, wird direkt an CEO Rishi Bajaj berichten, mit dem er bereits über 14 Jahre bei Altai Capital zusammengearbeitet hat.
- Appointment of experienced executive with 17 years of diverse financial and operational expertise
- Strong existing working relationship between new CFO and CEO spanning 14 years
- Strategic alignment with company's focus on streamlining operations and pursuing growth
- Company trading on OTC markets rather than major exchange, indicating potential financial or compliance challenges
- Significant organizational changes during transformation period may create temporary instability
OAKLAND, Calif., June 25, 2025 (GLOBE NEWSWIRE) -- ContextLogic Inc. (OTC: LOGC) (“ContextLogic,” the “Company,” “we” or “our”) today announced the appointment of Michael Scarola as Chief Financial Officer, effective June 30, 2025.
“We are thrilled to appoint Michael Scarola to the position of Chief Financial Officer. This appointment reflects our strategy to streamline our business as much as possible while we pursue value maximation through organic growth and accretive acquisitions.” said Rishi Bajaj, Chief Executive Officer.
Mr. Scarola currently serves as the Chief Financial Officer, Chief Operating Officer, and Chief Compliance Officer of Altai Capital, and has developed a wide array of back-office skills and knowledge over his 17-year career. At Altai Capital, Mr. Scarola is primarily responsible for all non-investment functions including fund accounting, compliance, operations, legal, information technology and investor relations.
“Rishi and I have worked together for over 14 years at Altai Capital. I am excited to bring my skillset to bear at ContextLogic in order to ensure the Company continues to operate smoothly while it pursues its transformation,” said Mr. Scarola.
Prior to joining Altai Capital in 2011, Mr. Scarola served as an Associate in the Financial Services Taxation practice at KPMG. Mr. Scarola received a Bachelor of Science degree in Commerce with Concentrations in Accounting and Finance from the University of Virginia, McIntire School of Commerce in 2008. He is also a Certified Public Accountant.
Mr. Scarola will report directly to the Company’s CEO, Rishi Bajaj.
About ContextLogic Inc
ContextLogic Inc. is a publicly traded company currently seeking to develop and grow a de novo business and finance potential future bolt-on acquisitions of assets or businesses that are complementary to its operations. For more information on ContextLogic, please visit ir.contextlogicinc.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding ContextLogic’s CFO transition and integration of the new CFO, executive management transitions and integrations, outlook, priorities, strategic direction, and other quotes of management. In some cases, forward-looking statements can be identified by terms such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “foresees,” “forecasts,” “guidance,” “intends” “goals,” “may,” “might,” “outlook,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “targets,” “will,” “would” or similar expressions and the negatives of those terms. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Important factors, risks and uncertainties that could cause actual results to differ materially from those forward-looking statements include but are not limited to: the strategic alternatives considered by our Board of Directors, including the decisions taken thereto; our lack of operating revenues after the sale of substantially all of our assets in April 2024; our prior history of losses; our continuation as a publicly-traded and reporting company after the sale of substantially all of our assets; our ability to utilize our net operating loss carryforwards and other tax attributes; risks related to any future acquisition of a business or assets; currently pending or future litigation; risks if we are deemed to be an investment company under the Investment Company Act of 1940; impact of anti-takeover provisions in our charter documents, in our Tax Benefits Preservation Plan and under Delaware law; and the other important factors discussed in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Further information on these and additional risks that could affect ContextLogic’s results is included in its filings with the Securities and Exchange Commission (“SEC”), including the Annual Report on Form 10-K for the year ended December 31, 2024, as amended by Amendment No. 1 to the Annual Report on Form 10K/A, the Quarterly Report on Form 10-Q for the period ended March 31, 2025 and other reports that ContextLogic files with the SEC from time to time, which could cause actual results to vary from expectations. Any forward-looking statement made by ContextLogic in this news release speaks only as of the day on which ContextLogic makes it. ContextLogic assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.
Investor Relations:
Lucy Simon, ContextLogic
ir@contextlogicinc.com
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