European Wax Center, Inc. announced that President and Chief Operating Officer David Willis will succeed David Berg as Chief Executive Officer (?CEO?) as part of the Company?s succession plan, effective September 30, 2023. Mr. Willis will also join the Company's Board of Directors at that time. David Berg will assume the newly created role of Executive Chairman of the Board of Directors (?Board?) on September 30, 2023.

Since joining European Wax Center in 2018, Mr. Berg has led the Company?s expansion from nearly 700 centers to over 1,000 centers today. Under Mr. Berg?s leadership, the Company has increased network sales at double-digit rates and more than doubled its bottom-line performance. Since its successful IPO in 2021, the Company has consistently met or exceeded its earnings guidance, and in 2022, returned over $200 million to shareholders through dividends and share repurchases.

Mr. Willis, age 52 has served as European Wax Center?s President since March 2023 and Chief Operating Officer since September 2019. He served as Chief Financial Officer from January 2022 to March 2023 and from July 2016 until December 2020. Prior to joining the Company, Mr. Willis served as an Operating Partner for Riata Capital Group, LLC from October 2014 to July 2016, during which he provided consulting services to the Company on supply chain, finance, and operations matters.