Blue Apron founder Matt Salzberg is stepping aside as the company’s CEO,
It’s been a volatile past few months for the cooking kit company, which went public in June. Shares closed Thursday at just $2.99. Blue Apron had gone public at $10 per share, after originally hoping to go public between $15 and $17.
Blue Apron’s costly new warehouse also put a dip in investor enthusiasm, as it was revealed that the company would spend less on marketing to help finance it. Marketing had been a key element of Blue Apron’s growth.
Salzberg will be staying on as Executive Chairman and Chairman of the Board of Directors.
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