Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Mark Vadon founded the online jeweler in 1999.
The founder of online jeweler Blue Nile Inc. has joined the board of The Home Depot Inc., the retail chain said today. Mark Vadon will sit on the board’s audit and finance committees.
Vadon co-founded Blue Nile in 1999 and was its president until 2007 and its CEO until 2008, when Diane Irvine took over that job. Vadon continues to serve at Blue Nile’s chairman, while Harvey Kantar became CEO in March.
In 2009, Vadon founded Zulily Inc., an e-commerce operator that offers limited-time, discounted sales on children’s clothes and related products. He is chairman of Zulily’s board.
Blue Nile is No. 71 in the Internet Retailer Top 500 Guide. The Home Depot is No. 42.
"Mark's expertise in developing and implementing successful online strategies will be a benefit to our company and an asset to our board," said Frank Blake, Home Depot’s chairman and CEO. "I am pleased to welcome him to the board and look forward to his contributions."
Home Depot recently announced plans to close its seven large-format stores in China and emphasize online sales there.