QRTEP - What Is Going on With Qurate Retail (QRTEA) Stock Today?
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Qurate Retail (NASDAQ:QRTEA,QRTEB,QRTEP) stock is in the news today after the company announced changes to its leadership team.
The first bit of news is current CFO Jeffrey Davis resigning from the company. Replacing him is the new CFO, James Hathaway. Davis will stick around at Qurate Retail during the transition process to ensure a smooth change of hands.
In addition to that, Qurate Retail also announced the creation of the Chief Transformation Officer position today. Taking on that role at the video commerce company is William Hunter. Hunter is being promoted to this position from his prior role as Senior Vice President of Business Transformation & Shared Services.
Qurate Retail is Focusing on a Transformation Plan
The creation of the CTO position will give Hunter more tools to execuite Qurate Retail’s Project Athens. This is a three-year transformation plan with the goal of stabilizing revenue, expanding adjusted OIBDA margin, and generating incremental free cash flow.
David Rawlinson II, president and CEO of Qurate Retail, said the following about the new executives.
“Bill and Jim and are both hands-on, high-energy leaders who are committed to driving change, exactly the qualities we need as we look to successfully execute Project Athens. I look forward to working closely with them.”
Investors will also note that QRTEA has been a hot topic among speculators lately. As such, the company’s shares have seen a bit of volatility over the last month. That resulted in a rally last month with shares slipping in August.
QRTEA stock is down 5.1%, QRTEB stock is slipping slightly, and QRTEP stock is up 1% as of Wednesday afternoon.
There’s more stock market news for traders to dive into below!
InvestorPlace is home to all of the latest stock market news for Wednesday! Among that is what has shares of Intuit (NASDAQ:INTU), Tattooed Chef (NASDAQ:TTCF), and Nerdy (NYSE:NRDY) stock on the move. You can get up to speed on that news at the following links!
More Wednesday Stock Market News
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- Tattooed Chef (TTCF) Stock Jumps 10% on Walmart Deal
- CEO Charles Cohn Just Bet Big on Nerdy (NRDY) Stock
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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