Dive Brief:
- Adding another new C-Suite executive to its leadership team, Purple, the direct-to-consumer mattress company, has appointed Keira Krausz as its chief marketing officer, according to a Tuesday press release. Krausz will manage the brand's marketing efforts and support its growth strategy.
- Upon entering the position on Nov. 1, Krausz will replace Patrice Varni, who stepped down to “pursue other interests.”
- Before joining Purple, Krausz served as the chief marketer of HealthPlanOne and chief marketer of Nutrisystem.
Dive Insight:
Purple has undergone multiple recent leadership changes.
In June 2021, the brand hired Varni to become its chief marketing and digital officer. Varni brought more than 25 years of experience at brands like Levi's, The Walt Disney Company, Tempur Sealy Brands and Arhaus Furniture to the DTC company.
Earlier this year, Purple appointed Robert DeMartini as its new CEO after Joseph Megibow departed the company. DeMartini previously held leadership roles at companies like P&G and USA Cycling.
With a new chief executive at the helm of the mattress brand, the C-Suite changes continued. In late March, Purple hired Jeff Hutchings to become its first chief innovation officer, a role in which he's tasked with overseeing the company's strategy, operations and future growth plans. About two months later, the company hired Eric Haynor as its COO after John Legg left the position in April.
In the announcement, Krausz was credited with playing a role in doubling Nutrisystem's revenue and quadrupling its EBITDA. Now, Krausz wants to help Purple "take the next step forward," she said in a statement.
"Keira's decades-long track record of successful marketing management will be a welcome addition to Purple," DeMartini said in a statement. "As we continue to mature our marketing efforts, Keira will provide significant experience in advancing our marketing strategies to grow our revenue and profitability."
Aside from reshaping its executive leadership, the brand has also been evaluating whether it should change its ownership. In September, the company received an unsolicited bid from Coliseum Capital Management to buy the company. The offer included buying its common stock for $4.35 a share, more than the value of the stock of $2.79 around that time.
Soon after receiving the bid, Purple created a special committee of independent directors to consider the proposal. The company also launched a limited-duration shareholder rights plan, or poison pill, to expire in September 2023.
