You can add RedEnvelope (NASDAQ:REDE) to the list of companies that have gone through changes at the top in recent months. President and CEO Ken Constable has resigned from the company, with remaining executives stepping up to take on the hats Constable is leaving behind.

But that doesn't necessarily mean investors should grab their hats and run. Wait and see if a seasoned outsider is brought in to shake things up. New thinking can only help at this point.

Powered by its gimmick of selling unique gifts delivered in signature red gift boxs, the former Motley Fool Hidden Gems recommendation was an early dot-com darling. But the online gifts specialist has struggled.

Unlike e-tail bellwether (NASDAQ:AMZN), RedEnvelope just hasn't been able to turn a profit outside of the seasonally potent third quarter. Even when the holidays prove robust -- as they did this past quarter -- RedEnvelope grew its sales just 8% higher.

When you're not growing as fast as the Internet retailing market, you've got problems. Constable is apparently leaving on his own terms to pursue other interests, but it was probably time to see if new thinking could transform the company back into a growth stock.  

So even as we can applaud the fact that lower sales are the result of the company selling fewer items with fatter margins, it's just one more retailer's CEO out, in what has been a very busy 2007. 

Gap (NYSE:GPS), Home Depot (NYSE:HD), and Sharper Image (NASDAQ:SHRP) are just some of the retailers being guided by a new chieftain. Shareholders can be as fickle as shoppers, it seems.

Consistent profitability? Now that is something I would love to see wrapped up in a RedEnvelope box.

Amazon and Gap have been recommended to Motley Fool Stock Advisor newsletter subscribers. Home Depot and Gap have made the cut as Inside Value recommendations. A free 30-day trial of either newsletter won't come in a red gift box, but red boxes are for sissies.

Longtime Fool contributor Rick Munarriz has been shopping online for ages, but he has never been swayed by a RedEnvelope offer. He does not own shares in any of the companies in this story. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.