(Reuters) – Blue Apron
Salzberg will become executive chairman, Blue Apron said.
His departure as CEO follows the exit of Matthew Wadiak, another Blue Apron co-founder, as chief operating officer in July.
New York-based Blue Apron’s shares have plunged 70 percent since their debut earlier this year amid poorly received financial results and brutal competition from startups including HelloFresh
The loss-making company is also spending heavily on building out a distribution facility in New Jersey by diverting funds from its advertising budget, a move that has slowed subscriptions from new customers.
Blue Apron, founded in 2012, had about 856,000 active customers in the third quarter, down 6 percent from a year ago, it reported earlier this month.
Incoming CEO Dickerson served at sportswear firm Under Armour
Blue Apron shares rose 2.7 percent to $3.07 in after-market trading on Thursday.
(Reporting by Uday Sampath and Karina Dsouza in Bengaluru; editing by Sai Sachin Ravikumar)