This post was originally published on this site

ltechnologygroup.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.

http://tctechcrunch2011.files.wordpress.com/2017/06/gettyimages-803395768.jpg

Blue Apron founder Matt Salzberg is stepping aside as the company’s CEO, the company announced Thursday. CFO Brad Dickerson has been promoted to take his place.

It’s been a volatile past few months for the cooking kit company, which went public in June. Shares closed Thursday at just $2.99. Blue Apron had gone public at $10 per share, after originally hoping to go public between $15 and $17.

But Amazon purchased Whole Foods just days before its debut and investors were concerned that this would eventually impact Blue Apron. There was also skepticism about Blue Apron’s customer retention.

Blue Apron’s costly new warehouse also put a dip in investor enthusiasm, as it was revealed that the company would spend less on marketing to help finance it. Marketing had been a key element of Blue Apron’s growth.

Salzberg will be staying on as Executive Chairman and Chairman of the Board of Directors.

Blue Apron laid off 6% of its employees last month.

Earlier this month, Blue Apron reported earnings that disappointed investors.

Competitor HelloFresh recently went public in Europe.

Featured Image: Michael Nagle/Bloomberg via Getty Images

At L Technology Group, we know technology alone will not protect us from the risks associated with in cyberspace. Hackers, Nation States like Russia and China along with “Bob” in HR opening that email, are all real threats to your organization. Defending against these threats requires a new strategy that incorporates not only technology, but also intelligent personnel who, eats and breaths cybersecurity. Together with proven processes and techniques combines for an advanced next-generation security solution. Since 2008 L Technology Group has develop people, processes and technology to combat the ever changing threat landscape that businesses face day to day.

Call Toll Free (855) 999-6425 for a FREE Consultation from L Technology Group, https://www.ltechnologygroup.com.