This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Shutterstock Announces Yearend Departure Of President And COO Thilo Semmelbauer

Stocks in this article: SSTK

NEW YORK, Aug. 7, 2014 /PRNewswire/ -- Shutterstock, Inc. (NYSE: SSTK), a leading global provider of commercial digital imagery and music, today announced that President and Chief Operating Officer Thilo Semmelbauer has notified the Company  of his intention to step back from his day-to-day operating role at the end of the year.  Mr. Semmelbauer will remain fully engaged in his current role during the coming months to effect a smooth and successful transition.

Shutterstock Logo

Jon Oringer, Shutterstock's Founder and CEO, stated, "Over his nearly five year tenure, Thilo has accomplished amazing things.  Together, we've transformed a small, private company into a public market leader in our sector.  Thilo has helped to build a world-class executive team, and created a foundation that supports the delivery of market-leading products and innovation.  It is a testament to his contributions that we are able to today report yet another quarter of strong growth and profit.  

"Given the solid foundation that we've built and the years of dedicated service that Thilo has given to the company, I support him in his decision to take time for himself.  I am extremely confident that he and I have put the right team and organizational structure in place to continue to succeed for years to come, with strong senior leadership in each of our business areas. Over the coming months, Thilo and I will continue to work closely together with our executive team through this transition."  

"Following Shutterstock's impressive accomplishments over several years, with confidence in the impressive management team now in place, I have decided to transition out of my current role over the remainder of this year," said Mr. Semmelbauer. "The company has never been stronger, financially, operationally and strategically, and I look forward to working closely with Jon and the rest of the management team over the coming months and to the many successes ahead of Shutterstock."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs