Purple hires first chief innovation officer - The Entrepreneurial Way with A.I.


Wednesday, March 23, 2022

Purple hires first chief innovation officer


Dive Brief:

  • Purple has added another executive to its leadership team with the appointment of Jeff Hutchings as its first chief innovation officer. He will report to CEO Rob DeMartini.
  • Starting May 1, Hutchings will manage the company's strategy and operations and map out its future growth plans, the company announced on Tuesday.
  • Hutchings brings more than two decades of experience leading corporate technology, engineering management, strategy and innovative operations and has held various positions at Skullcandy and Harman International, per the press release.

Dive Insight:

As Purple looks to drive future growth and innovation, the DTC mattress brand has been working to fill out its leadership team. Last June, Purple brought on Patrice Varni, who had experience at Dermstore, Levi's, Tempur Sealy Brands and Arhaus Furniture, as its new chief marketing and digital officer. And in December, the company initially brought DeMartini — who previously held roles at USA Cycling, New Balance and P&G — as acting CEO to replace Joseph Megibow, who stepped down as CEO and a member of the board. Earlier this month, the company sealed the deal and appointed DeMartini as its permanent CEO.

"I am thrilled to announce that Jeff Hutchings will be joining Purple as our chief innovation officer, bringing his deep experience in leading product strategy and development across different channels to spearhead Purple's innovation journey," DeMartini said in a statement. "I am confident that Jeff will strengthen our team at Purple and help lead us with innovative new products to help drive growth."

As the mattress brand brings on new executives to steer the company forward, it is trying to grow its revenue despite shifting demand during the COVID-19 pandemic. While the company's revenues fell 8.7% in the third quarter, which former CEO Megibow called "disappointing," the company bounced back in Q4, reporting revenue increases of 12% year over year and 69.5% from 2019. 

via https://www.aiupnow.com

Tatiana Walk-Morris, Khareem Sudlow