The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
Online grocer Peapod, without a CEO since the abrupt resignation of William Mallory in March, has a new chief: Marc van Gelder, an executive from Royal Ahold's Stop & Shop supermarket chain in the Boston area. The company says van Gelder, who will move to the Peapod position immediately, has more than a decade of experience in grocery operations and logistics.
Royal Ahold late last month bought a 51% stake in Peapod worth $73 million, amounting to an 11th hour rescue of the Internet grocery pioneer. Mallory's departure had led investors to withdraw an offer for $102 million in financing, touching off a cash crisis at Peapod and sending its board in search of suitors. Ahold's Stop & Shop and Edward's stores, both situated along the Eastern seaboard, are Peapod suppliers in the region.
Van Gelder, who has worked in New England as well as the Netherlands, had been senior vice president of supply chain management and logistics at Stop & Shop.