The online sneaker and collectibles marketplace StockX will have a new CEO in 2025. Detailing the upcoming transition, the company’s board of directors named a familiar executive to step into the role.

Greg Schwartz, who co-founded StockX and currently serves as its president and chief operating officer, is scheduled to replace Scott Cutler, the marketplace’s outgoing CEO, on Jan. 1.

StockX is No. 23 in the Global Online Marketplaces Database. The database is Digital Commerce 360’s ranking of the 100 largest such marketplaces by third-party gross merchandise value (GMV). Digital Commerce 360 projects that StockX’s GMV will reach $8.04 billion in 2024.

StockX total GMV by year

StockX CEO Scott Cutler to depart

On Nov. 8, StockX announced that Cutler would step down as CEO, effective Dec. 31. Cutler, who was previously an early investor and advisor for StockX, became CEO in June 2019. He plans to stay on as an advisor in the new year as Schwartz becomes CEO on New Year’s Day.

“As a co-founder of the company, I have had the opportunity to work with an incredible team across different functions and have worn a number of hats in addition to my role as COO but there is no role that I feel more honored to assume than that of StockX’s CEO,” said Schwartz in a released statement. “From the moment we launched the business in Detroit in 2016, we knew we were building something special and to see how far we’ve come has been one of the achievements of which I’m most proud.”

Looking ahead, StockX cited Schwartz’s early priorities when he becomes chief executive in 2025. Those include extending its “reach through brand growth, category diversification and market expansion.”

“I am grateful to have been able to attract a talent like Scott and to have had the benefit of his leadership,” Schwartz noted. “As we look to the next phase of the StockX journey, I intend to double down on our brand growth and product innovation to deliver best-in-class customer experiences that will help us to continue to scale globally.”

StockX’s future

“There is no more qualified individual to step into the office than Greg — from day one, he served as a partner to me in scaling the business, advancing its operations, and strengthening its brand position,” Cutler said. “As an early investor and advisor, taking on the role of CEO was a truly full circle moment for me and I couldn’t be prouder of all that we accomplished over the last five years.”

StockX credited Cutler with guiding the company through the COVID-19 pandemic, growing its business and building out its leadership team. A board representative also praised him for positioning StockX in a strong place for the next CEO.

“On behalf of the board, I want to thank Scott for his valuable contributions to StockX over the past five years,” said Stacy Brown-Philpot, a StockX board member and chair of its nominating, governance and impact committee. “During his tenure, we made significant strides in solidifying operational excellence and cementing the company’s leadership position in an increasingly competitive space.”

In addition, Brown-Philpot expressed confidence in Schwartz, given his capabilities and history at StockX.

“Without question, Greg is ready to take the reins as our CEO — he will work tirelessly to strengthen our foundation and move StockX into its next chapter with the fervor that only a founder brings to the table,” she stated.

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