Sonder Holdings Inc. has revealed that cofounder Francis Davidson has stepped down as the company’s CEO and as a member of the board of directors. Janice Sears, chairperson of the board, has been appointed interim CEO, effective immediately.
Sears will continue to serve as Sonder’s board chairperson. The board intends to immediately initiate a search process to identify the next CEO.
“I am incredibly proud of the brand Sonder has become since we launched the company just over a decade ago,” said Davidson. “What started as an idea as a first-year university student in Montreal has now become a leading global brand providing our guests with unique technology and design-forward accommodations. With the foundation that we have built, I know it will be an exciting next chapter for Sonder fueled by growth, innovation and delighting our guests every day. I have worked closely with Janice over the years and believe that she is best positioned to lead as interim CEO. It has been a privilege to work with such a passionate, driven and innovative group of colleagues at Sonder to help fulfill my dream for what Sonder can be.”
During his tenure, Davidson grew Sonder into a hospitality brand generating several hundred million dollars of annual revenue, serving millions of guests across more than 40 markets in nine countries across North America, Europe and the UAE.
“Sonder was built on Francis’ vision to create a new, alternative hospitality brand,” said Sears. “His entrepreneurial spirit and visionary leadership have made Sonder into the global company and recognizable brand it is today. On behalf of the board and all of our employees, I want to thank Francis for his tireless work and steadfast leadership. The board is focused on identifying an outstanding executive to be Sonder’s next CEO to best position the company to capitalize on the positive trends we are seeing across the business. Sonder has an immensely talented team, and I will continue to work closely with the board and management to advance our initiatives during this interim period.”
Sears has served on the Sonder board since 2021, as chairperson since January and previously as lead independent director and audit committee chair. She has previously served as a director of Legacy Sonder since August 2021. From April 1988 to January 2009, Sears served in a variety of positions at Bank of America Securities, including most recently as the managing director, Western region lead in the Real Estate, Gaming & Lodging Investment Banking Group. She concurrently served as the San Francisco market president for Bank of America.