Vitacost.com Turns To Vitamin Shoppe Founder To Right Ship
This article was originally published in The Tan Sheet
Executive Summary
Vitacost.com CEO Ira Kerker steps down and Jeffrey Horowitz takes the post after logistics challenges and a proxy fight shook up the company's board of directors
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Vitacost stockholder shakes up board
Great Hill Equity Partners, the largest holder of stock in Vitacost.com, will replace four company directors following a vote by Vitacost investors. An independent inspector of election confirmed the results July 21. Ira Kerker, CEO of Boca Raton, Fla.-based Vitacost, said, "The company's stockholders have spoken and we respect their decision." Great Hill offered its director nominees after communicating disppointment with the supplement retailer's flat sales growth and troubled manufacturing (1"The Tan Sheet" May 31, 2010, In Brief)