Qurate Retail Group Promotes Bill Wafford to Chief Administrative Officer

Rhea-AI Summary

Qurate Retail Group announces the promotion of Bill Wafford to Chief Administrative Officer and CFO to oversee Business Transformation and People & Organizational Strategy. Wafford's new role aims to align finance, transformation, and people functions for continued growth and operational efficiency.

Wafford remains Chief Financial Officer with additional oversight of Business Transformation and People & Organizational Strategy to support growth strategies.

WEST CHESTER, Pa., April 10, 2024 /PRNewswire/ -- Qurate Retail Group^SM, part of Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP), today announced that Chief Financial Officer Bill Wafford has been promoted to the expanded role of Chief Administrative Officer and CFO. In addition to his current role as CFO, Wafford will also oversee the company's Transformation office, which remains focused on embedding best practices to support the company's turnaround and growth, and the global People function, which includes compensation & benefits, payroll, talent acquisition, and people & organizational effectiveness. Wafford will continue to report to David L. Rawlinson II, President and CEO of Qurate Retail, Inc.

"In the third and fourth quarters of 2023, we reached an inflection point in our turnaround – demonstrated by consecutive growth in adjusted OIBDA and free cash flow. As we continue to build on this progress in 2024, it is time to reorganize parts of the business to align," said David Rawlinson. "Bringing Finance, Transformation and People together under Bill allows the teams to work more closely as we evolve the way we operate while staying vigilant in how we manage spend and maintain rigor, discipline and agility. Bill's financial strategy leadership, experience in business transformation, and strong cross-functional relationships make him well positioned to lead in this new structure."

The Transformation Office will continue to be led by Chief Transformation Officer, Bill Hunter, who will now report to Wafford. Linda Aiello, who was appointed as Chief People Officer in October 2022, previously made the decision to depart Qurate Retail Group for a new opportunity. She will stay with the company through April to support the transition. A formal search for a People leader to report to Bill Wafford has commenced.

"Under Linda's leadership, we made meaningful progress in aligning People strategies to support our turnaround and further elevate our team member experience," continued Rawlinson. "This included new leadership development programs and greater structure around how we understand and approach organizational health. We thank Linda for her contributions and wish her well."

Wafford's appointment is effective immediately. Wafford joined the organization in March of 2023 as Chief Financial Officer. Prior to joining Qurate Retail, he held CFO positions with Everlane, Vitamin Shoppe, and JC Penney.     

About Qurate Retail Group

Qurate Retail Group^SM comprises six leading retail brands – QVC^®, HSN^®, Ballard Designs^®, Frontgate^®, Garnet Hill^® and Grandin Road^® – all dedicated to providing a more human way to shop. Qurate Retail Group is the largest player in video commerce ("vCommerce"), which includes video-driven shopping across linear TV, ecommerce sites, digital streaming and social platforms. The retailer reaches more than 200 million homes worldwide via 15 television channels, which are widely available on cable/satellite TV, free over-the-air TV, and digital livestreaming TV. The retailer also reaches millions of customers via its QVC+ and HSN+ streaming experience, websites, mobile apps, social pages, print catalogs, and in-store destinations. Qurate Retail Group combines shopping and entertainment to curate products, experiences, conversations and communities for millions of highly discerning shoppers. Headquartered in West Chester, Pa., Qurate Retail Group has team members in the U.S., the U.K., Germany, Japan, Italy, Poland and China. For more information, visit qurateretailgroup.com or follow Qurate Retail Group on YouTube or LinkedIn.

Qurate Retail, Inc. (NASDAQ: QRTEA, QRTEB, QRTEP) is a Fortune 500 company that includes the Qurate Retail Group portfolio of brands as well as other minority interests.

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SOURCE Qurate Retail Group

FAQ

Who has been promoted to the expanded role of Chief Administrative Officer and CFO at Qurate Retail Group?

Bill Wafford has been promoted to the expanded role of Chief Administrative Officer and CFO at Qurate Retail Group.

What additional responsibilities will Bill Wafford have in his new role?

In addition to his current role as CFO, Bill Wafford will also oversee the company's Transformation office and the global People function.

Who will Bill Wafford report to in his new role?

Bill Wafford will continue to report to David L. Rawlinson II, President and CEO of Qurate Retail, Inc.

Who will lead the Transformation Office under Bill Wafford's new structure?

The Transformation Office will continue to be led by Chief Transformation Officer, Bill Hunter, who will now report to Wafford.

When did Bill Wafford join the organization?

Bill Wafford joined the organization in March of 2023 as Chief Financial Officer.