Shutterstock, Inc. has announced leadership changes effective October 28, 2026, involving the return of founder Jon Oringer to the Chief Executive Officer role and the appointment of Hichame Assi as President and Chief Operating Officer.
The Board of Directors approved the appointment of Jonathan Oringer as CEO and Chairman of the Board. Concurrently, Rik Powell will cease serving as Interim CEO but will continue in his role as Chief Financial Officer. Mr. Oringer’s annual base salary was increased from $1.00 to $1,000,000. He is not eligible for an annual cash incentive bonus for fiscal 2026 or fiscal 2027, though eligibility may be determined by the Board or Compensation Committee thereafter.
In a separate appointment, the Board named Hichame Assi as President and Chief Operating Officer. Mr. Assi, currently the CEO of Envato Pty Limited (a wholly-owned subsidiary acquired by Shutterstock in 2024), will lead the company's day-to-day business and operational performance. His fixed remuneration is set at AUD 775,000 per annum, less tax, exclusive of superannuation contributions.
As part of his compensation package, Mr. Assi is set to receive two awards of restricted stock units (RSUs) with a combined target value of $1.5 million. The first award has a target value of $625,000, and the second award, valued at $875,000, is expected to be granted in the first half of fiscal 2027. Vesting for the first award occurs over three years, with 33.3% on the first and second anniversaries and 33.4% on the third anniversary.
The Company also disclosed that it will not hold its previously scheduled third quarter 2026 earnings conference call on November 5, 2026, as it evaluates its strategic direction and priorities.
