Rue La La has a new CEO.

Steve Davis takes over for Ben Fischman, who had held the job since founding the company in 2008, the flash sale e-retailer says. Rue La La gave no reason for Fischman’s departure, though a source says Davis was hired at Rue La La with the succession in mind.

Davis has worked as Rue La La’s president since 2010. Before that, he was at GSI Commerce, an e-commerce technology and services firm that eBay Inc. bought in 2011. He was most recently president of GSI International, a position he held from 2006 until 2011, according to his LinkedIn profile. Before that, he was a GSI senior vice president.

“We founded Rue La La five years ago to offer consumers the most engaging online retail experience, and I leave the company in the hands of Steve and a brilliant team who share and will continue that vision,” Fischman says.

In the new 2013 Internet Retailer Top 500 Guide, released this week, Rue La La advanced to No. 76 from No. 84 last year. The members-only e-retailer focuses on lifestyle and fashion products.

In 2012, Rue La La had Internet Retailer-estimated sales of $399.9 million, up 30.3% from $307.0 million in 2011.  The Top 500 data for the e-retailer also show that its customers spend, on average, an estimated $150 per order.