Online grocer FreshDirect LLC has announced that its chairman, Rick Braddock, is expanding his role to become the company’s new CEO. Braddock has been chairman of the New York-based company since 2004 and is also a significant investor in the business.
“I chose to increase my involvement with the company because I love the business and I think it has great growth potential,” Braddock says. Braddock previously worked at private equity firm MidOcean Partners and travel services retailer Priceline.com where he also served as chairman and CEO. FreshDirect which is No. 58 in the Internet Retailer Top 500 Guide posted sales of $240 million in 2007 up 20% from $200 million in 2006.
Former CEO Steve Michaelson has left the company to become chief marketing officer for Minneapolis-based Supervalu supermarkets.
FreshDirect delivers groceries and food in the New York metropolitan region. Earlier this year, the company launched an initiative with the New York City food bank and food delivery non-profit City Harvest. The program called “City Harvest/FreshDirect Buying Club” gives residents of certain areas of the South Bronx a 20% discount on food they order from FreshDirect catalogs which is then distributed at City Harvest locations.
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