WEST CHESTER, PA — Qurate Retail Group recently announced a significant expansion of Chief Financial Officer Bill Wafford’s responsibilities, promoting him to the role of Chief Administrative Officer (CAO) and CFO. This strategic reorganization within Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP) aims to more closely integrate finance, transformation, and people functions under Wafford’s leadership, enhancing the company’s ability to navigate its ongoing turnaround and growth trajectory.
David L. Rawlinson II, President and CEO of Qurate Retail, Inc., highlighted the company’s recent achievements, noting consecutive growth in adjusted OIBDA (Operating Income Before Depreciation and Amortization) and free cash flow during the second half of 2023 as pivotal moments in the company’s revitalization efforts. “As we build on this progress, the reorganization of business segments to align under Bill’s guidance is a natural step forward,” said Rawlinson. He praised Wafford’s financial strategy expertise, his experience in business transformation, and his strong cross-functional relationships as key factors in his readiness to lead in this expanded capacity.
The Transformation Office, dedicated to embedding best practices and supporting the company’s turnaround, will continue its operations under the leadership of Chief Transformation Officer Bill Hunter, who will now report directly to Wafford. Additionally, with Chief People Officer Linda Aiello’s impending departure for a new opportunity, a search has commenced for a new People leader to join Wafford’s team, ensuring a seamless transition and continued focus on aligning People strategies with the company’s overarching goals.
Rawlinson expressed gratitude for Aiello’s contributions, particularly in advancing leadership development programs and enhancing the organization’s approach to team member experience during her tenure. Her efforts have laid a solid foundation for the company’s future initiatives in these areas.
Wafford’s promotion is effective immediately, bringing to the role his extensive experience as CFO of notable companies including Everlane, Vitamin Shoppe, and JC Penney since joining Qurate Retail in March of 2023. His comprehensive background positions him well to spearhead the integrated management of financial, transformational, and human resources strategies, driving Qurate Retail Group toward sustained success.
This reorganization reflects Qurate Retail Group’s adaptive strategy in response to the evolving retail landscape, emphasizing the importance of agility, fiscal discipline, and a cohesive operational approach. By consolidating these critical functions under Wafford’s leadership, Qurate Retail Group aims to enhance its competitive edge, foster innovation, and ultimately deliver greater value to its stakeholders. As the company continues to refine its operations and pursue growth opportunities, this strategic alignment is poised to play a crucial role in achieving its long-term objectives.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and Microsoft Start.