Blue Apron Adds Another Executive to the Sinking Ship

Blue Apron Holdings Inc. (NYSE: APRN) shares have been absolutely devastated since the company came public in the summer of 2017. It seems that the company has tried everything to right the boat, and now it is adding a new executive.

Blue Apron shares have vastly underperformed the broad markets, with the stock down about 41% year to date. In the past 52 weeks, the stock is down 81%. And since the IPO, the stock is down roughly 94%.

The food delivery service company has announced the appointment of Irina Krechmer as chief technology officer, with an expected start date of June 17.

Krechmer brings over 20 years of experience designing, developing and implementing customer-focused technology solutions, primarily at e-commerce, media and consumer technology companies. She will be responsible for all aspects of the company’s technology strategy, focusing on enhancing its platform to drive growth, and will report to president and CEO Linda Findley Kozlowski.

Kozlowski, said:

We’re thrilled to welcome a technology executive of Irina’s caliber, an experienced and multifaceted leader with a drive for growth, to the Blue Apron team,” “Technology fuels our business, from our supply-demand coordination activities and operational effectiveness to how we connect with customers and arm them with tools to manage their relationship with us. As we chart our strategic roadmap, we’ve identified significant opportunities to enhance our technology platform to deliver the best possible experience to our customers. Irina’s leadership will be critical as we drive an integrated strategy that ensures engaging with Blue Apron is intuitive, convenient and flexible across all of our customer touchpoints.

Shares of Apron were last seen up about 1% at $0.60, un a 52-week range of $0.60 to $4.15. The consensus price target is $1.45.