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Welcome to On the Move. In this hiring-focused weekly feature, The Current is rounding up recent arrivals and departures at brands and retailers across the ecommerce landscape.
This week brings C-suite shakeups in retail, new leadership hires at supply chain companies and a pair of prominent new roles focused on tech and sustainability. Here's a look at this week's moves:
Dollar General will have a new CEO
Jeffery Owen. (Photo via LinkedIn)
Dollar General announced a CEO transition plan on Tuesday.
Current CEO Todd Vasos will be retiring, effective Nov. 1. On that date, current Dollar General Chief Operating Officer Jeffery Owen will rise to the role of CEO.
Vasos joined Dollar General in 2008, and rose into the CEO role in 2015. During his tenure, the company said it added 7,000 stores and more than doubled its market capitalization to $58 billion.
Owen has been a Dollar General employee since 1992, and has held the role of Chief Operation Officer since 2019.
Vasos will remain with the company in a senior advisory role through April 2023, at which time he is expected to begin a two-year consulting stint with the company. Vasos will remain a member of the board of directors.
Victoria's Secret names new CEO, cuts 160 management jobs
Victoria's Secret & Co. is overhauling its leadership structure in a move that will result in the reduction of 160 management roles, which is 5% of the company's headquarters.
With this reorganization, the company named the following leaders:
- Amy Hauk, who is the CEO of the Pink brand, will lead both Pink and the Victoria's Secret brand. Hauk came to the company in 2018 after a decade at Bath & Body Works. She will report to VS&Co CEO Martin Waters.
- Christine (Chris) Rupp is being hired as chief customer officer, bringing store and digital channel operations under one purview. The former head of Fulfillment by Amazon and led Amazon Prime. Rupp served as chief customer and digital officer at Albertsons since 2019.
- Greg Unis was named chief growth officer after leading Victoria’s Secret and PINK Beauty since 2016. Unis will lead the VS&Co-Lab platform, new business development, international expansion and M&A.
Instacart makes a series of C-level promotions
Grocery ecommerce platform Instacart announced a series of leadership moves on Tuesday that will expand its C-suite. Here's a look:
- Chris Rogers was promoted from VP of retail to chief business officer. Rogers will oversee retail and brand partnerships in this role.
- Varouj Chitilian was promoted from VP of engineering to chief technology officer. This comes as CTO Mark Schaaf "is winding down his work with Instacart to take a break with family and pursue new opportunities," the company said.
- JJ Zhuang was promoted from head of infrastructure to chief architect. He has also previously served as VP of fulfillment.
- Daniel Danker was promoted from VP of shopper and fulfillment to chief product officer.
- Laura Jones was promoted from VP of brand and marketing to chief marketing officer. The former Uber executive joined the company in 2021.
Gap Inc. CEO Sonia Syngal is departing
Sonia Syngal. (Photo via Wikimedia Commons)
Sonia Syngal will leave the role of CEO at Gap Inc., the apparel retailer announced Monday. Effective immediately, Gap Inc. executive chairman and former Walmart International CEO Bob Martin will become interim CEO.
Gap Inc. also announced a new leader for Old Navy: Horacio “Haio” Barbeito, the former CEO of Walmart Canada, will become the CEO of the apparel brand on August 1. He succeeds Nancy Green, who left the company in April.
For the backstory, read The Current’s full brief on the news.
Former Asos CEO Nick Beighton to lead Matchesfashion
NIck Beighton. (Courtesy photo)
Nick Beighton, the former CEO of fast fashion leader Asos, is set to step into the CEO role at luxury online retailer Matchesfashion, according to Business of Fashion. Beighton will succeed Paolo De Cesare, who is set to depart the CEO role after less than a year. Matchesfashion was acquired in September 2017 by Apax Partners.
Blue Yonder names Angove as CEO
Duncan Angove. (Courtesy photo)
Digital supply chain and fulfillment company Blue Yonder named Duncan Angove as the company’s CEO. Bringing experience from Infor, Oracle and Retek, Angove succeeds interim CEO Mark Morgan. The appointment comes after a 2021 in which the company grew to over $1.1 billion in annual revenue, with SaaS annual recurring revenue of $475 million.
Lion Brothers company names Heyn as CEO
Christopher Heyn (Courtesy photo)
Custom apparel manufacturer Lion Brothers Company said Christopher Heyn is joining as president and CEO. Heyn brings experience as the CEO of apparel companies Southern Tide and Summit Golf Brands, as well as SVP of the NBA’s Global Merchandise Group and president of Nautica. Lion Brothers counts brands including Nike, Adidas, Hanes, Disney and Polo Ralph Lauren, as well as multiple professional sports leagues, as its partners.
CVS has a new C-level tech role
Tilak Mandadi. (Courtesy photo)
CVS Health appointed Tilak Mandadi to the newly created role of executive VP and chief data, digital and technology officer. Joining from MGM Resorts International, Mandadi also brings experience from Disney Parks, Experiences and Products, and American Express. He will oversee technology strategy, as well as growth and innovation of “all digital-led, consumer-focused experiences and services,” the company said.
GameStop fires CFO
Video game retailer GameStop fired Chief Financial Officer Michael Recupero, and appointed Chief Accounting Officer Diana Saadeh-Jajeh to the CFO role. It’s the latest change to be made as chairman and Chewy founder Ryan Cohen spurs a turnaround effort at the video game retailer. The change in CFO role accompanied layoffs on the corporate side of the company, CNBC reported.
Deckers Brands names former Nike exec to lead fashion lifestyle
Anne Spangenberg. (Courtesy photo)
Deckers Brands, which owns brands including Ugg and Koolaburra, appointed Anne Spangenberg as president of fashion lifestyle. Spangenberg most recently served as chief merchant at Nike, Inc. In the new role, she will focus on product diversification, consumer adoption and franchise evolution across the company’s omnichannel marketplace.
Hostess creates chief sustainability officer role
Darryl Riley. (Courtesy photo)
Sweet snacks maker Hostess Brands promoted Darryl Riley to become its first chief sustainability officer. Joining the company in 2016, Riley previously served as SVP of quality, food safety and R&D at the company. He also has experience at Kraft Heinz and Kellogg Company. Reporting to the company’s CEO, Riley will develop strategies to execute the company’s Environmental, Social and Governance (ESG) objectives, and educate employees on sustainability.
Shipbob hires chief people officer
Global omnifulfullment platform Shipbob named Lara Morgenthaler as its new chief people officer. Morgenthaler brings experience in human resources at Newell Rubbermaid, Amazon and Epic Games. Eight-year-old Shipbob supports automated ecommerce fulfillment for 60 retailers, including Target, Chewy, Neiman Marcus and Macy’s.
True Religion names CFO/COO
Sandip Grewal. (Courtesy photo)
Denim and sportswear brand True Religion named Sandip Grewal to the newly-created role of chief financial/operating officer. Grewal was formerly the CFO of housewares supplier Bradshaw International, which sold to Arbor Investments in 2021. He was also the CFO of Dr. Fresh, which sold to High Ridge Brands Co. in 2017.
Nintendo of America names Dawn Pritchard as EVP
Devon Pritchard. (Courtesy photo)
Video game company Nintendo of America promoted Dawn Pritchard to the role of EVP of sales, marketing and communications. A 16-year veteran of Nintendo of America, Pritchard held that role on an interim basis since November 2021. She will oversee strategy and execution across the US and Canada.
This story was updated at 8 p.m. on July 12 to add news from Victoria's Secret and Nintendo of America.
Trending in Careers
Campbell Soup Company CEO Mark Clouse offered thoughts on messaging amid inflationary shifts in consumer behavior.
After months of elevated inflation and interest rate hikes that have the potential to cool demand, consumers are showing more signs of shifting behavior.
It’s showing up in retail sales data, but there’s also evidence in the observations of the brands responsible for grocery store staples.
The latest example came this week from Campbell Soup Company. CEO Mark Clouse told analysts that the consumer continues to be “resilient” despite continued price increases on food, but found that “consumers are beginning to feel that pressure” as time goes on.
This shows up in the categories they are buying. Overall, Clouse said Campbell sees a shift toward shelf-stable items, and away from more expensive prepared foods.
There is also change in when they make purchases. People are buying more at the beginning of the month. That’s because they are stretching paychecks as long as possible.
These shifts change how the company is communicating with consumers.
Clouse said the changes in behavior are an opportunity to “focus on value within our messaging without necessarily having to chase pricing all the way down.”
“No question that it's important that we protect affordability and that we make that relevant in the categories that we're in," Clouse said. "But I also think there's a lot of ways to frame value in different ways, right?”
A meal cooked with condensed soup may be cheaper than picking up a frozen item or ordering out. Consumers just need a reminder. Even within Campbell’s own portfolio, the company can elevate brands that have more value now, even if they may not always get the limelight.
The open question is whether the shift in behavior will begin to show up in the results of the companies that have raised prices. Campbell’s overall net sales grew 5% for the quarter ended April 30, while gross profit margins held steady around 30%. But the category-level results were more uneven. U.S. soup sales declined 11%, though the company said that was owed to comparisons with the quarter when supply chains reopened a year ago and expressed confidence that the category is seeing a longer-term resurgence as more people cook at home following the pandemic. Snacks, which includes Goldfish and Pepperidge Farm, were up 12% And while net sales increased overall, the amount of products people are buying is declining. Volumes were down 7%.
These are trends happening across the grocery store. Campbell is continuing to compete. It is leading with iconic brands, and a host of different ways to consume them. It is following that up with innovation that makes the products stand out. Then, it is driving home messaging that shows consumers how to fit the products into their lives, and even their tightening spending plans.
Campbell Soup is more than 150 years old, and has seen plenty of difficult economic environments. It is also a different business today, and will continue to evolve. At the end of the day, continued execution is what’s required.
“If it's good food, people are going to buy it, especially if it's a great value,” Clouse said.