Sonder Holdings (SOND) Appoints President and CFO Sanjay Banker to Board

Sonder Holdings Inc. (NASDAQ: SOND), a leading next-generation hospitality company that is redefining the guest experience through technology and design, announced today that Sanjay Banker will transition from his role as President and Chief Financial Officer to join Sonder’s Board of Directors, effective January 1, 2023, and become a Senior Advisor to the company for a one-year period.

As a Senior Advisor, Banker will advise Management on the company’s strategic direction and progress on its Cash Flow Positive Plan.

In his time as President and CFO at Sonder, Banker led the company through multiple funding rounds, raising over $800 million of capital. He provided critical leadership during the coronavirus pandemic, helping stabilize the business while skillfully navigating the worst downturn in the history of the hospitality industry. Additionally, he led a successful public listing earlier this year and established the foundations to operate as a public company.

“We’re delighted to welcome Sanjay to the Board of Directors. He’s been a strong leader and we look forward to working with him as a member of our Board as we execute our plan,” said Francis Davidson, Co-Founder and CEO and Chair of the Board. “Sanjay's deep experience, capabilities and considerable knowledge of our strategy and operations will make him a great asset to the Board.”

“It’s been an immense privilege to serve as President and CFO over the last four years. I have deep confidence in Sonder and I look forward to continuing to work with Management to execute the company’s strategic plan as a member of the Board of Directors,” said Banker.

A formal search process has been launched for the position of Chief Financial Officer. Banker will continue to remain in the role through to the end of the year to ensure an orderly transition and support the recruitment of a new CFO.

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