Online photo printing leader will next year have a new leader for the first time in over a decade. Effective February 2016, Jeff Housenbold, will step down as president, CEO and board member effective February, 2016, of Shutterfly Inc. Housenbold, who joined the company in January, 2015, will continue with the company full-time to ensure a smooth transition, the company says. The board of directors has hired Spencer Stuart to assist the search committee in recruiting a new CEO.
Under Housenbold’s tenure – which included taking the company public – Shutterfly has grown from a start-up with a single brand, 103 employees, and $54 million in revenue to the fifth largest standalone ecommerce company in the U.S. with a market share estimated to be eight times the size of its closest online competitor, a portfolio of seven brands, an enterprise business, 2,000 full-time employees and more than one billion dollars in annual revenue.
“After 11 years as CEO, the time has come to recharge my batteries and find a new career adventure,” he said. “Over the next few months, I am committed to helping ensure a smooth transition, assisting the Board in finding my successor, and leading the company through our important fourth quarter. Looking ahead, I am fully confident the team will successfully execute the rollout of Shutterfly 3.0, setting the stage for the next phase of growth for the company.”
The past year has been tempestuous one for the company, as activist shareholders vied for seats in the board and