After an eight-year tenure that included a high profile spin-off and acquisition, FTD’s president and CEO, Rob Apatoff, will be stepping down. This change was announced prior to the company’s third quarter results, which showed improved profitability despite modest declines in consolidated revenues (excluding foreign currency fluctuations and other factors).
Christopher W. Shean, one of FTD’s directors, is now interim president and chief executive officer. He succeeds Robert S. Apatoff, who stepped down from these positions but will continue in a transitional advisory role through December 31, 2016. The FTD Board of Directors will conduct a formal executive search for this position and is not enforcing any deadline.
Shean has served as one of FTD’s directors since December 2014. He is CEO of Liberty Expedia Holdings. He serves on the board of directors of Expedia Inc. and the Atlanta Braves, along with the advisory committee for the Pamplin School of Business at Virginia Tech, where he earned a bachelor of science degree in accounting in 1987.
Robert Berglass, chairman of FTD’s board praised Apatoff’s leadership, especially during the company’s “spin-off from United Online and the acquisition of Provide Commerce,” which began two years ago. “I believe that FTD has tremendous opportunities to aggressively pursue growth initiatives,” commented Mr. Shean. “We have a talented management team, world class brands, and now that we have nearly finalized the integration of Provide Commerce, we have a strong foundation from which to build.”
“With our integration of Provide Commerce nearly complete, the board and Rob mutually agreed to this change,” commented Tom Moeller, who leads the company’s Florist segment. Apatoff’s departure, Moeller added, “will not impact our day-to-day operations.”
“We are very fortunate to have an outstanding leadership team in place and passionate and committed people that will continue to enthusiastically purse our mission to delight, inspire and support our customers when expressing life’s most important sentiments and helping our member florists take their business higher,” he said
