The company's long-time CEO is stepping down after 8.5 years, marking a leadership transition. Under the outgoing CEO, the company navigated a significant turnaround in 2017, managed rapid pandemic growth, and is now steering back towards growth with a focus on app-centric discovery. The company is entering a new phase in its third decade, strategically prioritizing the use of AI to create a more personalized and transformative shopping experience, aiming to harness previously unimaginable capabilities for e-commerce.