FTD Cos. (FTD) CEO Apatoff Resigns

November 4, 2016 8:56 AM EDT

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FTD Companies, Inc. (Nasdaq: FTD) announced that Christopher W. Shean, one of the Company’s directors, has been appointed interim President and Chief Executive Officer, effective immediately. Mr. Shean succeeds Robert S. Apatoff, who has stepped down from these positions and from FTD’s board of directors. Mr. Apatoff will continue in a transitional advisory role to the Company through December 31, 2016.

In conjunction with this leadership change, the Company has also created an Office of the Chief Executive Officer comprised of Becky A. Sheehan, Executive Vice President and Chief Financial Officer, Helen Quinn, Executive Vice President, U.S. Consumer Floral, and Scott D. Levin, Executive Vice President, General Counsel and Secretary, all of whom will report directly to Mr. Shean. The Board will conduct a formal executive search for the position of Chief Executive Officer.

“FTD is poised for future success and we have tremendous confidence in the leadership team to execute on our strategic growth initiatives which we believe will enhance value for our stockholders,” said Robert Berglass, Chairman of FTD’s Board of Directors. “On behalf of our employees and the Board, we would like to thank Rob for his commitment to FTD and numerous contributions over the last eight years, particularly through the spin-off from United Online and the acquisition of Provide Commerce. We wish him well in his future endeavors.”

Mr. Berglass continued, “Chris is a strong executive and proven leader with significant e-commerce industry experience. He has the Board’s full support to lead the Company as we transition into our next phase of growth.”

“I believe that FTD has tremendous opportunities to aggressively pursue growth initiatives,” commented Mr. Shean. “We have a talented management team, world class brands, and now that we have nearly finalized the integration of Provide Commerce, we have a strong foundation from which to build.”

Mr. Shean has served as one of FTD’s directors since December 2014. Mr. Shean is Chief Executive Officer of Liberty Expedia Holdings. Mr. Shean has been a Senior Advisor of Liberty Interactive Corporation (“LIC”) and Liberty Media Corporation (together with LIC, “Liberty”), since October 2016. Prior to this, he served as Liberty’s Chief Financial Officer from November 2011. Prior to being named the Chief Financial Officer Mr. Shean served as Liberty’s Controller for eleven years. Prior to joining Liberty, Mr. Shean was an audit partner with KPMG focusing mainly on clients operating in the media and entertainment industry. Mr. Shean serves on the board of directors of Expedia, Inc. and the Atlanta Braves. From February 2013 to December 2015, Mr. Shean served on the board of directors of TripAdvisor, Inc. Mr. Shean also serves on the advisory committee for the Pamplin School of Business at Virginia Tech. Mr. Shean received a Bachelor of Science degree in accounting from Virginia Tech in 1987.

FTD will report results for the third quarter ended September 30, 2016 on Monday, November 7, 2016 after market close. The Company will host a conference call to discuss these results with additional comments and details provided at that time. Participating on the call will be Christopher W. Shean, interim President and Chief Executive Officer, and Becky A. Sheehan, Executive Vice President and Chief Financial Officer.

The conference call is scheduled to begin at 5:00 p.m. ET on Monday, November 7, 2016. Live audio of the call will be webcast and archived on the investor relations section of the Company's website at http://www.ftdcompanies.com. In addition, you may dial 877-407-0784 to listen to the live broadcast.

A telephonic playback and archived webcast will be available from November 7, 2016, through November 21, 2016. Participants can dial 877-870-5176 to hear the playback. The passcode is 13647858.

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