Scoop: Retail software maker Optoro swaps CEOs
Tobin Moore is stepping down as CEO of Optoro, a maker of retail returns software that's raised over $250 million in venture capital funding, Axios has learned.
Driving the news: Moore, who co-founded the Washington, D.C.-based company 15 years ago, will give way to Amena Ali, a veteran SaaS executive who most recently led Airside, an identity management platform.
- Moore will remain with the company as a principal focused on strategic initiatives, and as a member of its board of directors.
- Fellow Optoro co-founder Adam Vitarello will transition from company president to chief strategy officer, while also retaining his board seat.
Why it matters: Optoro's software helps power returns for large brands like Best Buy, Staples, American Eagle, and Ikea (which also is an investor in the company).
- Earlier this year, it added Libby Johnson McKee, Amazon's former head of worldwide returns and Recommerce, to its board.
What they're saying: Moore and Ali tell Axios that conversations began early in the fall, and that the company has no plans to raise new funding early in 2023.