The RealReal Inc. (REAL) Announces Founder Julie Wainwright to Step Down as CEO, Chairperson and Director

The RealReal (the “Company” or “The RealReal”) (Nasdaq: REAL)—the world’s largest online marketplace for authenticated, resale luxury goods—today announced that after 11 years of leadership, its Founder Julie Wainwright has decided to step down from her role as Chief Executive Officer (“CEO”), Chairperson and member of the board of directors (the “Board”) of the Company, effective June 7, 2022. As part of the transition, the Board has appointed Rati Sahi Levesque, the Company’s President and Chief Operating Officer, and Robert Julian, the Company’s Chief Financial Officer, as Co-Interim Chief Executive Officers, effective June 7, 2022.

The Board will retain an executive search firm to commence a comprehensive search process to identify a new Chief Executive Officer. To ensure a seamless transition, Ms. Wainwright has agreed to serve in an advisory role as the Founder through the end of 2022.

"On behalf of the entire Board, I want to thank Julie for her leadership and commitment to The RealReal,” said Rob Krolik, Lead Independent Director. “Julie is a true visionary and pioneer whose passion for sustainable retail and deep e-commerce expertise helped transform the luxury resale market and create the broader circular economy for the benefit of consumers across the country.”

On the appointment of Ms. Levesque and Mr. Julian, Mr. Krolik continued, “Rati and Robert bring complementary skillsets that together create a powerful combination of operational, financial and industry expertise. Rati has been with the Company since its founding and has worked side-by-side with Julie to grow the business from the ground up, creating our merchandising strategy, encouraging our sustainability efforts, and managing our operations. A valuable member of senior management since he joined The RealReal, Robert’s perspective and leadership have been instrumental in navigating challenges during the last year. They are exceptionally well suited to serve as Co-Interim CEOs while the search for a permanent CEO replacement is underway.”

Rati Sahi Levesque has served as the President of The RealReal since 2021 and Chief Operating Officer since 2019. She previously served as the Company’s Chief Merchant from 2012 to 2019. Before joining The RealReal in 2011, Ms. Levesque was the owner of Anica Boutique, a fashion and home store.

Ms. Levesque, Co-Interim CEO, commented, “I am honored to be appointed Co-Interim CEO and look forward to working closely with Robert, the management team and the Board as we focus on continuing to grow The RealReal, extend its industry leadership and execute on Vision 2025. I have been fortunate to work with Julie since our company’s founding 11 years ago. I am grateful for her leadership, vision and years of mentorship and friendship as we built The RealReal to transform the luxury resale market.”

Robert Julian has served as Chief Financial Officer of The RealReal since 2021 and has over 30 years of financial management experience, in both public and private companies, ranging in size from small-cap enterprises to Fortune 100 companies. Prior to joining The RealReal, Mr. Julian served in various executive leadership roles at Sportsman’s Warehouse, Deluxe Entertainment Services, Callaway Golf and Lydall, among others.

Mr. Julian, Co-Interim CEO, commented, “It is a privilege to serve as The RealReal’s Co-Interim CEO alongside Rati and I am thrilled to build upon Julie’s legacy at this extraordinary company. I look forward to continuing to work with The RealReal’s world-class team and positioning our unrivaled offerings and innovative platform to capitalize on our bright future ahead.”

“I am deeply proud of the company we have built and am honored to have worked with a team that champions our founding vision of creating a more sustainable future for fashion,” said Julie Wainwright, Founder and CEO. “The RealReal continues to make progress on its path to profitability, and I feel now is the right time for the next generation of leadership to guide the company through its next chapter. I am incredibly thankful for everyone who has worked tirelessly to support our journey, and I have deep trust in Rati, Robert and the rest of our management team to execute on Vision 2025.”

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