Sew Repair Inc.’s
new finance chief,
is becoming a member of a cohort of former
executives who’ve left the e-commerce large to turn out to be CFOs elsewhere, strengthening the corporate’s popularity as a breeding floor for finance expertise.
San Francisco-based Sew Repair, which gives a private on-line styling service, on Monday stated Mr. Jedda will take over as chief monetary officer on Dec. 9. Mr. Jedda replaces former interim CFO
the corporate’s president and chief working officer, who in November introduced he would go away Sew Repair to launch a venture-capital agency.
Mr. Smith had been within the position for practically a yr following the departure of
Sew Repair’s former everlasting CFO, who was appointed in 2017 and introduced his plan to go away final December.
Mr. Jedda joins Sew Repair from
the place he spent greater than 15 years in finance, together with as divisional CFO of the corporate’s digital video, digital music and promoting companies. He was additionally chargeable for Amazon’s company improvement group.
“Dan brings in depth expertise funding and scaling a few of the most revolutionary companies at Amazon,” Sew Repair Chief Government
In his new position, Mr. Jedda shall be tasked with serving to to broaden the corporate’s personalization platform and to spice up the corporate’s development, Ms. Lake stated.
Sew Repair, which was based in 2011 and listed on the general public markets in 2017, on Monday reported internet income of $490.four million for the quarter ended Oct. 31, up 10% in contrast with the prior-year interval.
Analysts had forecast quarterly gross sales of $481.2 million, based on information supplier FactSet. Shares rose greater than 34% in after hours buying and selling. Sew Repair’s stock is up practically 40% to date this yr.
Mr. Jedda’s appointment follows the instance set by different firms within the client and expertise industries that employed finance executives from Amazon.
“There have been numerous sturdy CFOs from Amazon,” stated
a principal at recruitment agency Lancor. “I think they can attract top finance talent, being the fastest-growing, most innovative tech company world-wide,” Mr. Baskins stated.
Ford Motor Co.’s
funds till October have been led by
a former Amazon government who additionally served as CFO of
Mr. Stone left Ford after about 18 months and is now the finance and operations chief of Asapp Inc., an artificial-intelligence software program firm. “At Amazon, you must study a talent rapidly,” Mr. Stone stated in an interview in July.
Home rental firm Airbnb Inc., on-line map supplier Mapbox Inc. and digital promoting agency
Commerce Desk Inc.
additionally employed their finance chiefs from Amazon or one in every of its subsidiaries. So did Snap, when it recruited its present CFO
final yr took over the funds at Commerce Desk, after practically 11 years in Amazon’s finance division. Mr. Grayson stated he discovered methods to scale a enterprise at Amazon and methods to stay calm beneath stress. “There are not that many companies out there that can provide these kinds of experiences to their folks,” Mr. Grayson stated, pointing to Amazon’s explosive development in recent times.
A spokeswoman for Amazon confirmed that a number of senior members of its finance group have taken on CFO roles exterior the corporate.
Sew Repair declined to make Mr. Jedda accessible for an interview or to remark past the press launch.
—Kristin Broughton contributed to this text.
Write to Nina Trentmann at [email protected]
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