Shutterstock names Jonathan Oringer CEO, Hichame Assi president and COO

Shutterstock has appointed founder Jonathan Oringer as chief executive officer and chairman of the board, while Hichame Assi will take over as president and chief operating officer. Both appointments took effect on 28 October 2026, according to the company’s filing with the US Securities and Exchange Commission (SEC).

The leadership changes end Rik Powell’s tenure as interim CEO. Powell will continue as Shutterstock’s chief financial officer.

Oringer returns to the CEO role

Oringer founded Shutterstock in 2003 and served as its CEO until 2020. He has held the position of executive chairman since then.

His latest appointment brings him back to the company’s top executive role, alongside his responsibilities as chairman of the board.

The SEC filing also records an amendment to Oringer’s employment agreement. Key terms include:

• His annual base salary has increased from US$1 to US$1 million.

• He will not be eligible for annual cash incentive consideration for the remainder of fiscal 2026 or during fiscal 2027.

The filing does not specify the reason for Oringer’s return to the CEO position.

Assi appointed president and COO

Hichame Assi has been appointed president and chief operating officer, effective 28 October. He previously served as CEO of Envato and held leadership positions at HotelsCombined, including its chief executive role.

His earlier experience also includes roles at OctopusTravel.com.

Under his new executive agreement, Assi will receive fixed annual remuneration of AUD 775,000. The agreement also sets out performance-linked and equity compensation provisions:

• He is eligible for a discretionary annual bonus of up to 60%, beginning in fiscal 2027.

• He will receive two restricted stock unit (RSU) awards with an aggregate target value of US$1.5 million.

• His contract includes provisions covering severance and the vesting of equity awards.

Powell continues as CFO

Powell has ceased serving as interim CEO but will remain CFO. The SEC filing confirms the change in responsibilities from 28 October, without providing further details about the reason for the transition.

The appointments establish a revised leadership structure, with Oringer taking charge as CEO and chairman, Assi overseeing the president and COO responsibilities, and Powell retaining the finance portfolio.

The filing does not outline any accompanying changes to Shutterstock’s business strategy or operational priorities. The impact of the leadership transition will become clearer through the company’s subsequent announcements and financial disclosures.