The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
ShopNBC has named Bob Ayd president. Ayd, who had been executive vice president and chief merchandising officer at QVC, will report to CEO Keith Stewart, another QVC alumnus.
ShopNBC, which has been overhauling its senior management for the past year and a half, has again recruited a top executive from competing TV and web retailer QVC Inc.
ShopNBC has named as its new president Bob Ayd, who had been executive vice president and chief merchandising officer at QVC. Ayd will report to CEO Keith Stewart, who joined ShopNBC in August 2008, also from QVC.
"We are excited to welcome Bob to the ShopNBC family,” Stewart says. “His fluent understanding of our business and world-class multichannel retailing expertise, coupled with the building blocks already in place at the company, will help accelerate our timeline to drive increased sales and profitability. Equally invaluable are Bob`s strong vendor relationships and industry contacts, which span the globe."
During his tenure at QVC, Ayd also was senior vice president of design development and global sourcing and brand development, and senior vice president of jewelry and fashion. Prior to QVC, he was a senior vice president in women’s sportswear at Macy’s.
ShopNBC says it has awarded Ayd options to purchase 350,000 shares of the company’s stock at today’s closing price.
Other QVC alumni who have joined ShopNBC in the past year include Bill McGrath, hired last month as vice president of quality assurance, and Randy Ronning, who was named chairman of the board last June. ShopNBC is owned by Value Vision Media Inc., which tried unsuccessfully to sell ShopNBC last year.
The TV and online retailer, which says its televised shopping shows reach 73 million homes, reported a 12% decline in total sales in the first nine months of 2009 compared with the same period in 2008. The company no longer breaks out web sales. QVC is No. 11 (a PDF version of each company’s financial and operating profile can be ordered by clicking on its name.)