Aterian, a leading company in the consumer discretionary space, has appointed Joe Risico and Arturo Rodriguez as co-chief executive officers and board members. Additionally, William Kurtz, the current lead independent director, has been named chairman of the board.
Management Changes
Yaniv Sarig, the former CEO and board member, has resigned from his positions, with his departure being effective from Wednesday. The new co-CEOs bring a wealth of experience to Aterian and are expected to lead the company into its next phase of growth.
Divided Roles
Under the new leadership structure, Joe Risico will focus on strategy and revenue generation. He will play a pivotal role in driving the company’s overall vision and growth strategies. On the other hand, Arturo Rodriguez will spearhead technology and development initiatives while also overseeing supply chain and finance operations. It is worth noting that Rodriguez will continue to serve as the finance chief, maintaining continuity in this critical area.
Revised Revenue Outlook
Aterian has revised its revenue outlook for the second quarter, due to ongoing challenges in the consumer discretionary sector. The company now anticipates revenue to be in the range of $34.8 million to $35.4 million, as compared to the previously projected range of $37 million to $44 million. This adjustment reflects the continued softness in consumer spending.
Analyst Expectations
Financial analysts polled by FactSet are forecasting quarterly revenue of approximately $39.7 million. While the revised outlook falls slightly below these estimates, Aterian remains optimistic about its positioning in the market and is committed to delivering strong results.