QVC Group, CEO agree on new contract
QVC Group, Inc. has reached a deal to keep its chief executive in place until 2027.
David Rawlinson and the video commerce platform have reached a new agreement that would extend his term as president and CEO through Dec. 31, 2027. Rawlinson was first named CEO in July 2021, joining the company from NielsenIQ where he served a short stint as CEO after spending seven years in multiple roles at industrial supplier Grainger.
QVC Group, which recently changed its name from Qurate Retail, operates through its six brands: QVC, HSN, Ballard Designs, Frontgate, Garnet Hill and Grandin Road.
“I have been honored to serve as president and CEO of QVC Group and I am excited about the opportunity ahead for the company,” said Rawlinson. “Over the last three years, the team has successfully navigated a tragic fire, post-COVID retrenchment, and significant levels of cord-cutting, and still driven bottom-line results. Now, we can take a more nimble and more profitable QVC Group and target a return to growth. As shopping grows quickly on social and streaming platforms, we are well positioned to use our exceptional content creation and selling capabilities to capture market share. We still believe retail can be joyful and human.”
QVC Group’s rebrand is part of a new growth strategy to focus more on social media and live streaming to engage customers. It has set a goal to achieve $1.5 billion-plus run-rate revenue from streaming and social within three years.
[READ MORE: Parent company of QVC completes name change]
Through the WIN growth strategy, QVC Group says it aims to build on its legacy in TV and become a live social shopping company by accelerating its efforts in social and streaming.
“During David’s tenure, he has continued to lead with confidence and great vision, successfully architecting and delivering the company’s multiyear Project Athens initiative, which improved our profitability despite a challenging macro environment,” said Greg Maffei, executive chairman at QVC Group. “The board and I are confident he can lead QVC Group through its next chapter as we focus on growth and transforming into a live social shopping company.”
