Shutterstock announced on Oct. 29 that founder Jon Oringer had returned as chief executive, effective Oct. 28, while Hichame Assi became president and chief operating officer on the same date. Oringer returns to the CEO office he held until 2020. He remains board chair and will focus on long-term strategy, strategic investments and future opportunities; Assi will lead day-to-day operations, operational performance and the transformation the company says is needed for sustainable growth. MarketWatch’s report by Josh Beckerman confirms the changes and describes the accompanying review of Shutterstock’s direction.
The arrangement gives each executive a defined lane. Oringer founded Shutterstock in 2003 and served as CEO until 2020; he will continue as board chair. His new remit is the company’s longer-term direction, not only daily management. Assi has led Envato since 2020, before that business became part of Shutterstock in its 2024 acquisition. Earlier, he served as chief executive of HotelsCombined, which was acquired by Booking Holdings. Shutterstock said Assi brings experience scaling global digital businesses and a strong understanding of the industry and its customers. The appointment pairs a founder with a leader who has run a digital unit and now receives responsibility for execution across the wider company.
The change follows an interim period. MarketWatch reported that Paul Hennessy stepped down as chief executive in July and that CFO Rik Powell took over on an interim basis. The company thanked Powell for his leadership during the transition. Shutterstock’s Oct. 29 announcement also said it would not hold the previously scheduled third-quarter 2026 earnings call on Nov. 5 while it reviews strategic direction and priorities. It still intends to report results in line with applicable reporting requirements. The company has not said that the review caused the executive appointments, so the two developments should be read as concurrent rather than as cause and effect.
What the announcement makes clear is the division of responsibility: Oringer directs long-term strategy and investments, while Assi leads the daily business and operational transformation. The company did not give a date for further details on its strategic review. For a related founder-to-CEO return, see Info Edge founder Sanjeev Bikhchandani’s return to the top job; the circumstances differ, but both moves place a founder back in an operating seat.
