Blue Apron CFO Brad Dickerson is taking over the chief executive job from co-founder Matt Salzberg, the recipe kit delivery company said on Thursday.
Why it matters: This is an attempt to right a ship that has been sinking since Blue Apron went public in late June. Not only has its share price fallen by two-thirds, but it's also faced Amazon entering its market, layoffs and shareholder lawsuits. Shares climbed slightly in aftermarket trading on the announcement.
Dickerson will join the company's board of directors while Salzberg will become executive chairman and remain on its board. Prior to Blue Apron, Dickerson spent 11 years at Under Armor. Blue Apron is now searching for a new finance chief.