QVC introduces new business structure and executive team prior to HSN merger
Liberty Interactive-owned online and TV retailer QVC on Thursday announced a new organizational structure and senior executive team, in preparation for the closing of Liberty Interactive Corporation’s acquisition of Home Shopping Network (HSN).
QVC is introducing the new structure and leadership team to develop engaging, discovery-based shopping experiences and extend those experiences across all the digital and media platforms, ahead of the HSN merger later this year.
“The new QVC Group will generate $14 billion in annual revenue," QVC President and CEO Mike George said. "Our new group will bring together QVC, HSN, Zulily and the Cornerstone brands to create a premier global retailer with extraordinary reach and unlimited potential."
The new QVC group business units will be QVC US, led by Steve Hoffmann; QVC International; HSN; Zulily; and Cornerstone. Mike Fitzharris will be promoted from CEO, Representative Director and Chairman of QVC Japan to President of HSN; Lori Twomey will serve as interim President of Zulily; Claire Spofford, President of Garnet Hill, will be President of Cornerstone; and the company will announce a new leader of QVC International.
New global functions for the company will include Global Merchandising; Interactive Commerce Experiences; New Ventures; Operations; People; Communications & Community; Technology; Finance and Legal & Compliance.
The new functions will be led by Chief Merchandising Officer Doug Howe, previously EVP of Merchandising at QVC; Chief Interactive Experience Officer Mary Campbell; New Ventures President Darrell Cavens; COO Bob Spieth; Beth Rubino, Chief People Officer; Chief Information Officer Karen Etzkorn; CFO Ted Jastrzebski; and Larry Hayes, General Counsel, respectively.
Liberty Interactive, QVC’s parent company, said in July that it would purchase the remaining 62% of HSN and merge it with it QVC, an acquisition giving HSN a value of $2.6 billion. The combined group will broadcast 17 networks and is expected to reach as many as 360 million homes in nine countries and 2 billion annual global website visits.
George added, "Together, we will define a new generation of shopping that combines commerce, content, and multi-platform engagement to change the way She shops – all the while retaining the uniqueness of our well-known brands and continuing to build on our distinctive legacies."
All leaders at HSNi, QVC and Zulily will continue in their current roles until the transaction closes, and QVC and HSNi will continue to operate as separate companies.
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