The longtime CEO recently exited the Boston-based online footwear and accessories retailer after 14 years of leadership positions. He took on the role in the summer of 2011, when the company still held the ShoeBuy.com domain name. Prior to that, he served as chief financial officer for six years.
CFO and executive VP John Foristall has been named interim CEO. Sorabella’s departure also comes around the same time as EVP of merchandising Trisha Sweeney’s exit from the company. Shoes.com spokesperson Alex Proelss explained that the two transitions were both personal decisions and unrelated.
In an email sent to FN, Proelss said: “Our business remains strong, and this provides an opportunity for Mike to take a break and spend time with his family.”
Sorabella leaves the company almost two years after it was snapped up by Walmart-owned Jet.com in January 2017 as ShoeBuy.com. Three months after the acquisition, it purchased the domain name from its now-defunct Canadian parent company. (It did not buy any of the business’ other assets.)
“We plan to maximize Shoes.com as the gold standard of category websites,” Proelss said following the move. “We have made a commitment to modernize how people shop for shoes, and this is [an extension] of that.”
ShoeBuy.com was founded in 2000. It offers more than a thousand big-name brands including Adidas, Aerosoles, Ugg, New Balance, Puma, Reebok and Timberland.
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