viewProactive Group

Blue Apron co-founder Matt Salzberg steps down as chief executive

Blue Apron has started the search for a new chief financial officer

blue apron
Blue Apron's shares have plunged since going public earlier this year

Blue Apron Holdings Inc. (NYSE:APRN) co-founder Matt Salzberg has stepped down from his role as chief executive of the meal-kit company and will be replaced by chief financial officer Brad Dickerson.

Salzberg will become executive chairman and a search is underway for a new CFO, the group announced.

“It has been a tremendous honour to serve as the CEO of Blue Apron since founding the company and I am incredibly proud of everything our team has accomplished together in just five years," Salzberg said in a statement.

Dickerson joined the group as CFO in February 2016 after previously holding the same position at Under Armour.

Shares in the company rose 7.02% to US$2.99 each in US pre-market trading.

The news comes amid struggles at the company, which has seen its share price fall from initial public offering price of US$10.00 in June.

The group went public at a third less than it had hoped as Amazon.com Inc.’s (NASDAQ:AMZN) acquisition of Whole Foods Market Inc. weighed on the sector.

The deal sparked speculation that Amazon will launch its own meal-kit delivery service.

Blue Apron reported a loss of 47 cents per share in the third quarter the costs involved in trying to attract and keep customers rose. The number of customers fell 6% in the quarter. 

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Loop Insights getting ready to rumble as platform wallet being used by the...

Loop Insights (CVE: MTRX- OTCQB: RACMF) CEO Rob Anson joined Steve Darling from Proactive with big news that Loop's Wallet pass platform will engage global boxing fans during the WBC super-middleweight championship fight, featuring champion Saul "Canelo" Alvarez and challenger Avni...

1 day ago

2 min read