CEO of QVC parent company to retire next year
Qurate Retail Group is losing its longtime CEO.
Qurate Retail Group, which includes the QVC, HSN, Zulily, Ballard Designs, Frontgate, Garnet Hill and Grandin Road brands, announced that president and CEO Mike George has extended his employment agreement through the end of 2021, at which time he will retire.
The early announcement allows ample time for transition planning and an executive search process, the company said, adding that it has strong internal candidates and will also consider external candidates.
“Mike George has provided strong leadership at Qurate Retail for fifteen years and successfully led the business through many challenges and changes, including most recently COVID-19,” said Greg Maffei, Qurate executive chairman. “I’m very pleased that he has agreed to stay on for another year during which time the Board, Mike and I will work together to find the next leader of Qurate Retail. I want to thank Mike for being a great partner over these many years and for his dedication to growing Qurate Retail to the benefit of our teams, customers, and shareholders.”
George is currently the chairman of the National Retail Federation board of directors. He assumed the two-year position in January 2020.
“After leading QVC and Qurate Retail for nearly half the life of the company, I will be retiring at the end of 2021,” George said. “This decision was made with careful consideration for our company, team members, partners and shareholders. The company is well-positioned to thrive in this new era of retail by providing differentiated experiences across traditional commerce and new media platforms.”