Blue Apron Appoints Brad Dickerson as CEO

11/30/17

NEW YORK--(BUSINESS WIRE)--Blue Apron Holdings, Inc. (NYSE:APRN) today announced that the Company’s Board of Directors has appointed Brad Dickerson as President and Chief Executive Officer. He will assume day-to-day leadership of the Company and will also join Blue Apron’s Board of Directors. Dickerson, a consumer and capital markets veteran, has served as Blue Apron’s Chief Financial Officer since he joined the Company in February 2016. Matt Salzberg, Blue Apron’s co-founder, has stepped down from his role as President and Chief Executive Officer and has been named Executive Chairman. Salzberg will also continue to serve as Chairman of the Board of Directors. The Company has commenced a search for a new Chief Financial Officer.

“It has been a tremendous honor to serve as the CEO of Blue Apron since founding the company and I am incredibly proud of everything our team has accomplished together in just five years,” said Salzberg. “We’ve made meaningful progress toward our top company priorities. Since we completed the transition of volume to our fulfillment center in Linden, New Jersey less than two months ago, our most recent On-Time-In-Full rates have improved to be in line with our other fulfillment centers. Additionally, as expected, our margins since the end of the third quarter have significantly improved.”

“The Board and I are confident that Brad is the right person to build on this momentum,” Salzberg continued. “He is a seasoned leader with significant experience working with the public markets, operating efficiently at scale, and delivering value to shareholders. We are lucky to have him as our next CEO.”

Before joining Blue Apron, Dickerson, 52, spent eleven years at Under Armour in senior leadership roles including as Chief Financial Officer and Chief Operating Officer. As one of Under Armour’s most tenured executives, Dickerson helped advance the company’s growth strategy, leading strong teams around him that took Under Armour from $200 million to $4 billion in net revenue. As Under Armour’s Chief Operating Officer, he was also instrumental in driving operational efficiencies across the company’s global supply chain that included multiple distribution channels.

“I know that I speak for everyone at Blue Apron in thanking Matt for his leadership and tireless dedication to the company,” said Dickerson. “I am incredibly excited to assume this new role and for the future of the company. We have an exceptionally talented team at Blue Apron that is focused on taking decisive actions to transform the business, continuing to innovate our product in new and diverse ways, and unlocking future growth opportunities. We remain confident in our previously stated financial guidance for the second half of 2017, and I believe we are taking the right steps to move the business forward.”

Dickerson will participate in the Raymond James Technology Investors Conference in New York on Monday, December 4, 2017 at 1:15 p.m. Eastern Time. He will also speak at the KeyBanc Capital Markets Consumer Conference featuring Convergence on Wednesday, December 6, 2017 and the Company will meet with investors throughout the day.

A live webcast and replay of the Raymond James session will be available on Blue Apron’s Investor Relations website at investors.blueapron.com.

About Blue Apron

Blue Apron’s mission is to make incredible home cooking accessible to everyone. Launched in 2012, Blue Apron is reimagining the way that food is produced, distributed, and consumed, and as a result, building a better food system that benefits consumers, food producers, and the planet. The Company has developed an integrated ecosystem that enables the Company to work in a direct, coordinated manner with farmers and artisans to deliver high-quality products to customers nationwide at compelling values.

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