Dive Brief:

• Business holding company ContextLogic announced Monday that Intercontinental Exchange alum Scott Stewart has stepped in to the dual role of CFO and chief operating officer, effective immediately.
• Stewart will succeed interim finance chief and fellow Ernst & Young veteran Chad Chevalier, who took the seat in January following the departure of CFO Michael Scarola in December 2025, according to company securities filings.
• After logging 13 years at Intercontinental Exchange — the owner of stock and commodity exchanges, including the New York Stock Exchange — Stewart is joining the Oakland, California-based Intercontinental Exchange with a “career built around exactly what the company needs,” according to a Monday press release. That includes “acquiring businesses, integrating them cleanly, and building the financial infrastructure to support them in a public company context,” the company said.  

Dive Insight:

Stewart is joining ContextLogic after serving four years as CFO for Cantaloupe, a software development and payments company, which he joined in 2020 as its chief accounting officer before assuming the CFO role, according to his LinkedIn profile. He served as assistant controller during his tenure at Intercontinental Exchange, and began his career at Big Four firm EY.

The platform has tapped a new CFO as it looks to build out its executive leadership team following a tumultuous transition period from an e-commerce entity to a business holding company over the past two years. Previously the parent entity of e-commerce platform Wish, ContextLogic in April 2024 sold its assets and liabilities for $161 million in cash.

After the sale, the company continued as a publicly-traded entity under the new ticket symbol LOGC, with $2.7 billion of net operating loss carryfoward, according to a press release at the time.

The business has undergone numerous executive leadership changes, including the December 2025 departures of both Scarola as CFO and Rishi Bajaj as CEO, according to filings with the Securities and Exchange Commission at the time. The business, which has yet to name a successor for Bajaj in its top executive seat, is currently led by President Mark Ward.

The company earlier this year marked the completion of its “evolution from an e-commerce company into a distinctive business ownership platform,” with the acquisition of US Salt Parent Holdings, a processor of salt, in a transaction valuing US Salt at $907.5 million, “according to the Feb. 26 press release.

ContextLogic is also continuing to work on addressing a material weakness in US Salt’s internal controls it identified prior to closing the acquisition, noting remediation is a priority in a Q&A published May 15 alongside its results for the first quarter of 2026.

“Management, with oversight from the Audit Committee, is actively working to design and implement the necessary controls, processes, and personnel structure,” the company said in the Q&A. “We view this as a normal and expected part of integrating a long-held private company into a public company structure.”

For its Q1, ContextLogic reported non-GAAP net income of $17 million, an increase of $14.1 million compared to $2.9 million in the prior year period.