Qurate Retail Inc. chief Mike George has revealed plans to retire at the end of next year.
The president and CEO said he has extended his employment agreement through the end of 2021 — and the announcement today will allow for a seamless transition and search process for his replacement.
“This decision was made with careful consideration for our company, team members, partners and shareholders,” said George in a statement. “The company is well positioned to thrive in this new era of retail by providing differentiated experiences across traditional commerce and new media platforms. We have many strong leaders and a committed and passionate team who will continue to grow our business by providing unique products and an incredible customer experience across every touchpoint.”
Greg Maffei, Qurate’s executive chairman, Qurate has strong internal candidates and will also consider external executives to fill the role at the company, which owns QVC and HSN.
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George has been a familiar face in the shoe industry, helping support and grow the “QVC Presents FFANY Shoes on Sale” event. Since its inception, Shoes on Sale has raised millions of dollars for charity through the hosting of a gala and an accompanying shoe sale on QVC, uniting footwear brands, QVC and shoppers all around the country.
“There’s a lot of pride that we’ve been doing this for 25 years,” said George, in 2019, when he accepted the Jodi & Jerome Fisher Humanitarian Award. “For me, it’s so powerful every year to connect with the researchers, doctors and scientists involved in the work and to connect with those in the industry who’ve supported it all these years,” he added. “Many QVC team members have been affected by breast cancer, [so it’s good] to hear those stories and be reminded that this is important and makes a difference.”