Changes to the leadership at online meal-kit company Blue Apron Holdings Inc. went to the top Thursday.
The e-commerce firm has named Brad Dickerson as its new president and CEO, replacing company co-founder Matt Salzberg, who has been named executive chairman and will continue as Blue Apron’s board chairman.
Dickerson has served as Blue Apron’s chief financial officer, joining the company in February 2016. Before joining Blue Apron, Dickerson, 52, spent 11 years at Under Armour (No. 36) in senior leadership roles, including CFO and chief operating officer. Blue Apron says it has started a search for a new CFO.
Salzberg’s shift follows the departure of co-founder and COO Matt Wadiak, who left in July. Human resources executive Kate Muzzatti followed in August.
In October, Lainie Cooney joined Blue Apron as chief human resources officer. She most recently had held the same title at DPI Specialty Foods, a specialty food distributor.
Blue Apron, No. 198 in the Internet Retailer 2017 Top 500, has been plagued by upheaval since Amazon.com Inc. (No. 1) announced its bid to buy Whole Foods Market. By acquiring Whole Foods, well-capitalized Amazon showed it was serious about dominating online fresh-food sales and added to the intense competition Blue Apron already faced in the narrower meal-kit space.
That $13.7 billion Amazon-Whole Foods deal overshadowed Blue Apron’s planned initial public offering and cut its valuation. After the Whole Foods acquisition was announced in June, target market valuation of Blue Apron shrunk to $2.1 billion from $3.2 billion.
Since going public in late June, Blue Apron has lost about two-thirds of its value, reflecting increasing competition from Amazon, upstarts like HelloFresh and challenges in Blue Apron’s warehouses.
In October, Blue Apron cut its workforce by about 6%. The job cuts affected at least 300 people in both corporate and fulfillment center roles.Favorite