RealReal founder steps down as CEO, shares rise

Realreal

07/06/2022 16:21

** Shares in luxury goods resale marketplace RealReal
 REAL.O  rise 9.7% to $3.18 amid broader market gains  .N 
    ** REAL says its founder Julie Wainwright has decided to
step down as CEO, chairperson and member of the board after 11
years  urn:newsml:reuters.com:*:nASA03EFI
    ** The board has appointed President and COO Rati Sahi
Levesque and CFO Robert Julian as co-interim CEOs - REAL
    ** Credit Suisse analyst Michael Binetti calls the
announcement "mixed" in a note, saying Wainwright's departure
hurts confidence in the 2022 analyst day plan  urn:newsml:reuters.com:*:nFWN2VP0QA
    ** REAL adds Wainwright will serve in an advisory role as
the founder through the end of 2022
    ** Shares have lost nearly three-fourths of their value this
year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))