Blue Apron taps former Ann Taylor CFO

Dive Brief:

Meal kit service Blue Apron Holdings has hired Randy Greben as CFO, effective Jan. 6, it announced Monday. He succeeds CFO since 2018, Tim Bensley, who resigned on December 31.
Greben, a veteran finance leader in the consumer products space, will be the New York-based company's principal financial and accounting officer, reporting to CEO Linda Findley Kozlowski. Greben was previously CFO at ANN Inc., a subsidiary of Ascena Retail Group, which included brands Ann Taylor, LOFT and Lou & Grey.
"Randy has helped drive growth in new business operations across different sales channels, while also implementing strategies to efficiently manage business operations," Kozlowski said in a statement. "We believe his experience across direct-to-consumer, e-commerce, and the food industry will be an asset to our senior management team and finance department."

Dive Insight:

Greben, a retail and e-commerce veteran, will face expectations to help the brand become profitable. "Blue Apron has built a solid foundation and made progress against its growth strategy over the past year and a half," Greben said. "I am excited ... to help drive the next phase of the company's growth strategy as it leans into product innovation, scale and marketing investment."

Despite the uptick in demand for home delivery meal services amid the pandemic, Blue Apron has struggled to create a model for long-term success. It went public in June 2017 and has yet to reach profitability; its share price has dropped 89% over the past three years.

It reported a $34.3 million loss on $345.2 million in revenue between January and September 2020, compared with a $39.2 million loss and $360.5 million in revenue for the same period a year earlier, according to its most recent quarterly filing.

At ANN, Greben oversaw corporate and brand finance, strategic planning, e-commerce product management, credit and loyalty programs, and several new business activations for the Ann Taylor, LOFT, and Lou & Grey brands, according to Blue Apron's press release.

Prior to ANN, Greben served for approximately four years first as CFO and then as CFO-General Manager at Amazon.com subsidiary Quidsi, which includes flagship websites Diapers.com, Soap.com, and Wag.com.

At Quidsi, Greben led approximately 1,300 associates across four locations in finance, accounting, tax, inventory management, operations, logistics, and customer care.

Greben has also worked on the finance teams for Tesco's U.S. venture, Fresh & Easy Neighborhood Markets, and Taco Bell.

Representatives for Blue Apron and for Greben declined to comment beyond the release and 8-K form.