CEO David Willis departs, David Berg returns as CEO; Q2 net income up 7.3% but guidance slashed

European Wax Center, Inc.

David Willis stepped down as CEO on Aug 12, 2024; replaced by Executive Chair David Berg, who was CEO from 2018-2023.
Q2 revenue $59.9M (+1.3% YoY); GAAP net income $6.0M (+7.3%); adjusted EBITDA $20.6M (-2.6%);
FY 2024 guidance cut: total revenue $216-221M (down from $225-232M), same-store sales (1.5%) to 0.5% (prev. 2%-5%).
Net new center openings outlook reduced to 27-32 from 75-80; company repurchased $10M of stock in Q2.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

David Willis

Chief Executive Officer

EWCZ · European Wax Center, Inc.

Effective: 2024-08-12
Successor: David Berg
Filed: August 14, 2024, 7:59 PM ET

David Willis departed from his position as Chief Executive Officer of the Company, effective August 12, 2024.

Appointed

David Berg

Chief Executive Officer

EWCZ · European Wax Center, Inc.

Effective: 2024-08-12
Filed: August 14, 2024, 7:59 PM ET

David Berg, who has served the Company as Executive Chair since 2023 and previously served as the Company’s Chief Executive Officer, assumed the role of Chief Executive Officer effective as of August 12, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

David Willis departed as Chief Executive Officer at European Wax Center, Inc..

Action: departed
Role: Chief Executive Officer

Exact text from the filing

David Willis departed from his position as Chief Executive Officer of the Company, effective August 12, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

David Berg changed role as Chief Executive Officer at European Wax Center, Inc..

Action: assumed the role
Role: Chief Executive Officer

Exact text from the filing

David Berg, who has served the Company as Executive Chair since 2023 and previously served as the Company’s Chief Executive Officer, assumed the role of Chief Executive Officer effective as of August 12, 2024.

View on SEC.gov

European Wax Center, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-096630

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