Qurate Retail Group appoints new Chief Operating Officer
In a series of recent announcements, Qurate Retail Group, the parent company of QVC and HSN, has been making changes to its leadership team as it pushes forward with its turnaround strategy.
One of the most significant changes is the appointment of Scott Barnhart as the company's Chief Operating Officer, effective immediately. Before joining Qurate, Barnhart served as the president of global medical products and supply chain at Cardinal Health. In his new role, Barnhart's expertise will be crucial in helping Qurate accelerate Project Athens, their strategic growth plan. He will lead supply chain, procurement, global business services, corporate real estate, workplace services, customer service, and experience for all Qurate brands. Barnhart also oversees QVC and HSN's U.S. fulfillment operations and the transformation management office for the company's three-year turnaround plan, Project Athens.
Another notable change is the promotion of William Hunter to the role of Chief Transformation Officer. The person who was earliest appointed to this position at Qurate Retail Group in any August remains unidentified.
Meanwhile, declining sales are being seen across nearly every section of Qurate's business. The latest quarter showed a 16% decrease in revenue. This, coupled with ongoing supply chain constraints and lower discretionary spending, led to Qurate being downgraded to B+ at S&P Global Ratings.
In response to these challenges, Qurate Retail Group's CEO, David Rawlinson, stated that the company is augmenting its leadership team with new talent. Stacy Bowe took over as chief merchandising officer for QVC U.S., and Soumya Sriraman was named president of Qurate's streaming unit. James Hathaway was named as interim CFO of Qurate Retail Group in August, following the resignation of Jeffrey Davis from his position as CFO.
The analysts' statement suggests these issues will weigh on the company's efforts to turn around operations. However, with the new leadership in place and a clear focus on strategic growth, Qurate Retail Group continues to transform its C-suite as it navigates through these challenging times.
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