Mindy Grossman is stepping down as chief executive officer of HSNi to join Weight Watchers International as president and ceo.
Grossman’s resignation will be effective on May 24 and she will join Weight Watchers in July.
In the interim, she is to work with senior management and the board to ensure a smooth transition. The board has retained a search firm to find a successor. HSNi said internal and external candidates would be considered.
In addition, the board has established an office of the chief executive whose members are to manage the company’s day-to-day operations and engage with the board on a regular basis until a successor is named. The office will consist of Rod R. Little, chief financial officer; William C. Brand, chief marketing officer of HSNi and president of HSN, and Judy A. Schmeling, chief operating officer of HSNi and president of Cornerstone Brands Inc.
Chairman Arthur C. Martinez said, “On behalf of the board, we thank Mindy for her visionary leadership and many contributions to our company during a transformative period in its history. She has been a committed partner to the board in the development of important initiatives that have created a solid foundation for the future. We will miss her energy, creativity and passion for our company, and wish her success in her future endeavors.”
“With a focus on customer engagement, digital innovation, product excellence and immersive and community-oriented content, HSNi will be able to thrive in the modern retail environment, where consumers are looking for experiences and meaning,” Grossman said.
Grossman will also join the Weight Watchers board.
Grossman, one of the retail industry’s most popular and visible executives, was HSNi’s ceo since 2008. She grew the company and raised its profile to become a $4 billion lifestyle network, in the process launching several digital innovations and forming partnerships with brands and celebrities from different fields. She is widely recognized for her leadership in workplace diversity and equality, having been named three times by Forbes magazine as one of the world’s 100 most powerful women, among other recognitions. She also is the chairperson of the National Retail Federation.
“She reinvented HSN and will reinvent Weight Watchers, too,” said jewelry designer R.J. Graziano, who is a regular on HSN selling products. “Mindy is a tremendously bright force always moving in the right direction,” he added.
Ray Debbane, chairman of the Weight Watchers board, cited Grossman’s “track record of bringing bold and transformative ideas to businesses to unlock their potential.…Weight Watchers has returned to growth and Mindy is the right person to take our business to a whole new level and empower the brand to realize its full potential.”
Oprah Winfrey, an HSNi stakeholder and board member, said, “Mindy is proven as a successful visionary and entrepreneurial force in business and I look forward to working with her. She has the experience, the passion and the positive energy to take Weight Watchers to exciting new places.” Winfrey has recently touted Weight Watchers for getting her to lose 40 pounds.