Kevin Ryan, one of the founding investors of the leading US private shopping club Gilt Groupe, will now be taking over the operative business.
"Gilt Groupe, the invitation-only online retailer of women’s fashion, announced today that its chairman and CEO were swapping roles.
CEO Susan Lyne will become chairman while Kevin Ryan will relinquish his role as chairman to take over as CEO.Ryan, a former CEO of online advertising technology provider DoubleClick, was among the founders of Gilt Groupe in 2007.
Lyne, former CEO of Martha Stewart Living Omnimedia, joined Gilt as CEO in September 2008."
Kevin Ryan has been receiving consultation since the beginning of September.
The change of personnel could be related to a pending IPO. Kevin Ryan has experience with the stock market and successfully brought Doubleclick public.
Gilt is targeting revenues this year between $400 – 500 million.
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- How the Gilt Groupe Wants to De-Throne Vente-Privée
Originally posted in German by Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.
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