Blue Apron CEO Brad Dickerson Resigns, Former Etsy Executive To Succeed;Stock Up

(RTTNews) - Shares of Blue Apron Holdings Inc. (APRN) surged 16% on extended trading session on Tuesday after the company said its CEO Brad Dickerson resigned. The company appointed former Etsy Inc.'s executive Linda Kozlowski as Chief Executive Officer, effective as of April 8, 2019.

Kozlowski most recently served as Chief Operating Officer of Etsy and prior to that as COO of Evernote Corporation.

The company said Dickerson, who joined Blue Apron as Chief Financial Officer in February 2016 and was appointed as President, CEO and a member of the Board of Directors in November 2017, decided to resign in order to pursue new opportunities.

"This is an exciting time to join Blue Apron," said Kozlowski. "Over the past year, the company has made significant product, platform and operational advancements, and now has the right foundation for growth. I look forward to working closely with the team to focus on the best opportunities to attract and engage consumers and drive the business to new levels of performance."

Ilia Papas, Blue Apron's co-founder and Chief Technology Officer, will also be departing the company to pursue new opportunities.

Moving ahead, Blue Apron reaffirms its guidance of a significant improvement in net loss and achieving profitability on an adjusted EBITDA basis for the first quarter of 2019 and for full year 2019.