Sonder Holdings Inc. Announces CFO Transition

Rhea-AI Summary

Sonder Holdings (NASDAQ:SOND) announced the resignation of Chief Financial Officer Michael Hughes, effective August 15, 2025. This leadership change comes while the company is already conducting a CEO search, with a permanent chief executive expected to be appointed by the end of 2025.

Interim CEO Janice Sears acknowledged Hughes' contributions in strengthening the company's financial position. The incoming CEO, once appointed, will play an active role in selecting the new CFO as part of Sonder's long-term leadership succession plan.

Positive

• Company has a structured leadership succession plan in place
• New CEO expected to be appointed by end of 2025

Negative

• Simultaneous vacancies in both CEO and CFO positions
• Potential disruption in financial leadership during transition period

News Market Reaction

-2.50%

1 alert

-2.50% News Effect

On the day this news was published, SOND declined 2.50%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SAN FRANCISCO, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Sonder Holdings Inc. (Nasdaq: SOND) (“Sonder” or the “Company”) today announced that Michael Hughes, Sonder’s Chief Financial Officer, has resigned from his position, effective August 15, 2025.

The Company’s previously announced CEO search process remains underway and the Board of Directors expects to appoint a permanent successor by the end of 2025. It is expected that Sonder’s new CEO, once appointed, will be actively involved in the CFO search process.

“On behalf of the Sonder team, I want to thank Michael for his contributions as we have done important work to strengthen our financial position,” said Janice Sears, Sonder’s Interim Chief Executive Officer. “As the next step in our long-term leadership succession plan, we are looking forward to identifying world-class executives to enable Sonder to achieve its full growth potential and maximize value.”

About Sonder

Sonder (NASDAQ: SOND) is a leading global brand of premium, design-forward apartments and intimate boutique hotels serving the modern traveler. Launched in 2014, Sonder offers inspiring, thoughtfully designed accommodations and innovative, tech-enabled service combined into one seamless experience. Sonder properties are found in prime locations in over 40 markets, spanning nine countries and three continents. The Sonder app gives guests full control over their stay. Complete with self-service features, simple check-in and 24/7 on-the-ground support, amenities and services at Sonder are just a tap away, making a world of better stays open to all.

To learn more, visit http://www.sonder.com or follow Sonder on Instagram, LinkedIn or X.

Download the Sonder app on Apple or Google Play.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based upon current expectations or beliefs, as well as assumptions about future events. Forward-looking statements include all statements that are not historical facts and can generally be identified by terms such as “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potentially,” or “will” or similar expressions and the negatives of those terms. These statements include, but are not limited to, statements regarding Sonder’s executive management and the timing of the recruitment of candidates. These forward-looking statements are based on management’s current expectations, estimates, and beliefs, as well as a number of assumptions concerning future events and are not guarantees of future performance, conditions, or results. Actual results could differ materially from those expressed in or implied by the forward-looking statements due to a number of risks and uncertainties, including the risks and uncertainties described in the Company’s reports filed with the SEC and under the heading “Risk Factors” in its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available at www.sec.gov. These forward-looking statements are only as of the date of this press release. Except as required by law, the Company does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this press release.

Media:
press@sonder.com

Investor:
ir@sonder.com

FAQ

When is Sonder Holdings (SOND) CFO Michael Hughes leaving the company?

Michael Hughes is leaving his position as CFO of Sonder Holdings effective August 15, 2025.

Who is currently serving as CEO of Sonder Holdings (SOND)?

Janice Sears is currently serving as Interim Chief Executive Officer of Sonder Holdings.

When does Sonder (SOND) expect to appoint a new permanent CEO?

Sonder's Board of Directors expects to appoint a permanent CEO by the end of 2025.

How will Sonder (SOND) handle the CFO replacement process?

The incoming permanent CEO, once appointed, will be actively involved in the CFO search process as part of the company's leadership succession plan.

What is the current status of Sonder's (SOND) executive leadership?

Sonder currently has an interim CEO and will have a CFO vacancy as of August 15, 2025, with searches underway for permanent replacements for both positions.