Shutterstock Announces Leadership Transition

Shutterstock (NYSE: SSTK) announced that Paul Hennessy has stepped down as Chief Executive Officer and as a member of the Board of Directors, effective immediately.

Rhea-AI Summary

Shutterstock (NYSE: SSTK) announced that Paul Hennessy has stepped down as Chief Executive Officer and as a member of the Board of Directors, effective immediately. The Board appointed Chief Financial Officer Rik Powell as Interim CEO, also effective immediately; he will retain his CFO role during the transition.

Hennessy, CEO for 4 years and Board member for 11 years, will serve in a non-executive advisory capacity through August 7, 2026 to support a seamless transition. The Board plans to engage a strategic advisor to help shape Shutterstock's go-forward strategy. The company’s second quarter 2026 earnings call is scheduled for August 6, 2026 at 8:30am ET.

Positive

• Interim CEO appointed immediately, maintaining leadership continuity
• Rik Powell retains dual Interim CEO and CFO roles during transition
• Departing CEO remains advisor through August 7, 2026
• Board plans to engage strategic advisor for go-forward strategy

Negative

• CEO and Board member stepping down effective immediately
• Company enters period with interim CEO and ongoing search for permanent leader

News Explained

Shutterstock has immediate interim leadership and a board change, with the permanent CEO search still pending.

On July 13, 2026, Paul Hennessy stepped down immediately as Shutterstock’s CEO and board member, and CFO Rik Powell became interim CEO while retaining the CFO role. This immediately changes the company’s executive and board composition, but does not establish a permanent CEO.

Powell will lead the company in an interim CEO/CFO capacity while the board begins a process to identify a permanent CEO. Hennessy will remain with Shutterstock only as a non-executive adviser through August 7, 2026, and the board plans to engage a strategic adviser for its go-forward strategy.

The next disclosed milestone is the company’s second-quarter earnings call, scheduled for August 6, 2026.

Argus Jul 14 session 16 alerts

-7.76% close to close 0.9x rel. volume Open Argus

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News Market Reaction – SSTK

-18.6% Trough in 24 hr 16 min

$320.72M Market Cap

In the Jul 14 session, SSTK declined 7.76%, reflecting a notable negative market reaction. Argus tracked a trough of -18.6% from its starting point during tracking. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

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Paul Hennessy to Step Down as Chief Executive Officer and Board Member; Rik Powell Appointed as Interim CEO 

NEW YORK, July 13, 2026 /PRNewswire/ -- Shutterstock, Inc. (NYSE: SSTK) (the "Company"), a family of brands delivering scalable creative and GenAI solutions to help customers fuel great work, today announced that Paul Hennessy has stepped down as the Company's Chief Executive Officer and as a member of the Board of Directors, effective immediately. The Board has appointed Rik Powell, the Company's Chief Financial Officer, to serve as Interim Chief Executive Officer, effective immediately. Powell has served as the Company's Chief Financial Officer since November 2024 and started with the Company in June 2024 as Senior Vice President, Finance and Investor Relations. He will continue to serve as the Company's CFO during this transition.

The Company is grateful for Paul Hennessy's contributions to Shutterstock over the last 4 years as CEO and for the 11 years he has been a member of the Board of Directors. As is true across the technology industry, leadership evolution is critical to innovation and growth. The Board has full confidence in the Shutterstock leadership team to champion the business through its next chapter and believes Rik Powell is well equipped to serve as Interim CEO/CFO while the Board commences a process to identify the Company's next permanent Chief Executive Officer.

To facilitate a seamless leadership transition, Hennessy will remain with the Company in a non-executive advisory capacity through August 7, 2026. The Board is also planning to engage a strategic advisor to assist the Company in formulating its go-forward strategy.

The Company's second quarter 2026 earnings results call is currently scheduled for Thursday, August 6, 2026 at 8:30am ET.

ABOUT SHUTTERSTOCK
Shutterstock is in the business of turning ideas into impact. Powered by a global network of millions of creators and our cutting-edge technology, we provide businesses, creatives, and brand leaders with the essential, universal ingredients to make their work more effective. Shutterstock offers access to one of the world's largest and most diverse collections of high-quality licensable assets, specialized training datasets, evaluation tools, and end-to-end strategic partnerships for the full model training lifecycle, as well as advertising and distribution solutions, exclusive editorial content, and full-service studio production—delivering unparalleled resources to fuel great work.

Discover our impact at www.shutterstock.com and connect with us on LinkedIn, Instagram, X, Facebook and YouTube.

View original content to download multimedia:https://www.prnewswire.com/news-releases/shutterstock-announces-leadership-transition-302824175.html

SOURCE Shutterstock, Inc.

FAQ

What leadership change did Shutterstock (SSTK) announce on July 13, 2026?

Shutterstock announced that Paul Hennessy stepped down as Chief Executive Officer and board member effective immediately. According to Shutterstock, Chief Financial Officer Rik Powell has been appointed Interim CEO while continuing as CFO during the transition and while the Board seeks a permanent CEO.

Who is Rik Powell, the new Interim CEO of Shutterstock (SSTK)?

Rik Powell is Shutterstock’s Chief Financial Officer and newly appointed Interim CEO. According to Shutterstock, he became CFO in November 2024 after joining in June 2024 as Senior Vice President, Finance and Investor Relations, and will hold both CEO and CFO roles during the transition period.

Will Paul Hennessy remain involved with Shutterstock (SSTK) after stepping down as CEO?

Yes. Paul Hennessy will remain with Shutterstock in a non-executive advisory role through August 7, 2026. According to Shutterstock, this advisory period is intended to support a seamless leadership transition following his departure as CEO and board member effective immediately.

Is Shutterstock (SSTK) starting a search for a new permanent CEO?

Yes. Shutterstock’s Board is beginning a process to identify the next permanent Chief Executive Officer. According to Shutterstock, Rik Powell will serve as Interim CEO and CFO while this process is underway, and the Board also plans to engage a strategic advisor on go-forward strategy.

When is Shutterstock’s (SSTK) Q2 2026 earnings call scheduled?

Shutterstock’s second quarter 2026 earnings results call is scheduled for Thursday, August 6, 2026, at 8:30am ET. According to Shutterstock, this timing remains in place alongside the announced leadership transition and advisory support period for outgoing CEO Paul Hennessy.

What does the Shutterstock (SSTK) CEO transition mean for company leadership structure?

Shutterstock will be led by Interim CEO and CFO Rik Powell while the Board searches for a permanent CEO. According to Shutterstock, Paul Hennessy will advise in a non-executive capacity through August 7, 2026, and the Board plans to engage a strategic advisor.