Loss-making US meal-kit firm Blue Apron has announced chief executive and president Brad Dickerson is to resign, with Linda Findley Kozlowski set to step into his shoes.
New York-listed Blue Apron said in a statement that Dickerson plans to “pursue new opportunities”. Only last month, one of the company’s three founders and former chief operating officer Matt Wadiak, who left the firm in 2017, revealed he was forming a “next generation food business, Cooks Venture.
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And the New York-based business is also losing another executive in the form of another co-founder Ilia Papas, who currently holds the position of chief technology officer. He will leave the business on 3 May and also plans to pursue other opportunities.
The departures mark more management exits from the firm, which last November announced it was laying off 4% of its workforce as a means to shore up bottom-line earnings. The “reductions included certain members of management”, Dickerson said at the time.
Kozlowski will take up the CEO role on 8 April. She previously served as COO at e-commerce business Etsy and held the same position at software firm Evernote Corp. Meanwhile, Dickerson will stay on for “a period of time to assist with the transition”.
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In the year to 31 December, Blue Apron turned in a net loss of US$122m, which was down from a $210m loss in 2017, but was wider than a $55m loss posted the prior year.
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By GlobalDataRevenue fell 24% to $668m, while adjusted EBITDA losses narrowed to $61.3m from $138m.
Blue Apron noted in its statement announcing Dickerson’s departure: “Based on its current view of the business, Blue Apron also reaffirms its prior guidance of a significant improvement in net loss and achieving profitability on an adjusted EBITDA basis for the first quarter of 2019 and for full-year 2019.”
The company is scheduled to issue its first-quarter results on 30 April.
Dickerson joined Blue Apron as chief financial officer in 2016, before being appointed CEO and president in November 2017.
The departing CEO said in the statement: “Blue Apron has reached an important point in the company’s history, highlighted by a clear path towards adjusted EBITDA profitability and a sharpened focus on the strongest opportunities for the business, and the board and I believe this is an appropriate time to transition to a new leader who can optimise for growth. I am proud of the great things our team has accomplished and am confident that with Linda as CEO, Blue Apron will implement the appropriate strategies to create value for all of its stakeholders.”
Matt Salzberg, the chairman of Blue Apron’s board and the other co-founding member, added: “On behalf of the board, I would like to thank Brad for his leadership, and for the progress the team has achieved in the past year, including in driving operational optimisation, realising meaningful margin expansion, and evolving the company’s product portfolio and channel strategy.
“I’d also like to thank my co-founder Ilia for all of his contributions over the past seven years, particularly in developing Blue Apron’s technology infrastructure and capabilities as our chief technology officer.
“Linda’s exceptional leadership and marketing expertise, as well as her understanding of Blue Apron customers as a long-time customer herself, will help her advance the company towards sustainable, profitable growth.”
