Google Executive Bill Ready To takeover As Pinterest CEO Silbermann Resigns

Pinterest Inc said that long-time CEO Ben Silbermann will resign, turning over the social media network to Google commerce executive Bill Ready. In extended trading on June 28, the company's shares rose 9 percent as a result of the announcement. It emphasized Pinterest's transition away from its advertising-based economic model and toward e-commerce operations. Ready joins the firm as an executive who formerly led commerce and payment operations at Google.