Please ensure Javascript is enabled for purposes of website accessibility

Why Blue Apron Holding Inc. Stock Jumped Today

By Jeremy Bowman - May 17, 2018 at 3:10PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Shares of the meal-kit service were gaining after the company named a new CFO.

What happened

Shares of Blue Apron Holding Inc. (APRN 17.07%) were getting a boost today after the meal-kit service named a new CFO, tapping Tim Bensley to replace Brad Dickerson, who had held both roles since being named CEO last December. As a result, the stock was up 7.6% as of 2:45 p.m. EDT.

A selection of ingredients and recipe cards from Blue Apron

Image source: Blue Apron.

So what

Bensley will fill a key executive role for the company as it struggles to win back customers, after operational miscues hampered its expansion into a new fulfillment facility last year.

Bensley most recently served as CFO of Acosta, Inc., a privately held company with 30,000 employees that provides business intelligence services for food and consumer packaged goods companies. Prior to that, he worked for 29 years at PepsiCo, the majority in the Frito-Lay North America division.

CEO Brad Dickerson said: "Following a rigorous search for a CFO who can make an immediate impact on our business, I am thrilled to have Tim join our team. Tim brings over three decades of exceptional leadership experience, including a track record of delivering against a growth agenda with a positive impact on business results, and relevant expertise in the food and consumer packaged goods space."

Now what

Leadership is an often underrated component of a company's performance, but any brand is only as strong as the people running it. We don't know exactly what kind of impact Bensley will have on Blue Apron, but his experience with packaged food seems promising, especially as the meal-kit provider tries to break into supermarkets.

At the very least, relieving Dickerson from fulfilling double duty as both the CEO and CFO should help him focus on long-term solutions for the company.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Blue Apron Stock Quote
Blue Apron
$4.80 (17.07%) $0.70

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 07/06/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.