WEST CHESTER, Pa. – QVC Group emerged from Ch. 11 bankruptcy late last week with an interim CEO and a new board whose directors include former execs from Walmart, Amazon and Pixar.
The company – whose properties include QVC U.S., HSN, Cornerstone Brands and QVC International – exited bankruptcy with a new $600 million asset-based lending facility led by funds managed by Strategic Value Partners and its affiliates along with Oaktree Capital. The company plans to expand its position in live social shopping across social platforms, streaming apps, e-commerce sites, retail stores and television networks.
President and CEO David Rawlinson, who joined QVC Group in 2021, has stepped down and is being succeeded by Mike George as interim CEO and chair of the board of directors. The company is now seeking a permanent CEO.
“I am energized by the opportunity to return to QVC Group at such an important moment in its journey,” said George. “I am excited to work closely with the new board and current management team, and to reconnect with our team members, building upon the strong foundation that has been established.”
George spent almost 16 years as president and CEO of QVC Group (formerly Qurate Retail Group). He currently sits on the boards of AutoZone and Ralph Lauren, serves on the executive committee and is past chair of the National Retail Federation. Prior to QVC Group, he held leadership roles at Dell and McKinsey & Company, where he led the firm’s North American Retail Practice.
In addition to George, QVC Group’s new board of directors includes:
David Charles Boone, CEO of The Michaels Companies, former interim CEO of Essendant and former CEO of Staples Canada
Nicolas Le Bourgeois, former leader of TikTok Shop in the United States and former Amazon executive
Jason Lee Horowitz, former global head of marketing and media at Mattel;
James A. Marcum, executive chair and former CEO of David’s Bridal and a former director at Iconix Brand Group
Ann Mather, former CFO of Pixar and experienced public company director, including service on the boards of Netflix, Alphabet, Airbnb and Pattern Group, and as Board Chair of Bumble
Richard Andrew Mayfield, senior advisor at McKinsey and former EVP/CFO of Walmart International
Jonathan Seth Zinman, managing member of JZ Advisors LLC and former managing director at Silver Point Capital
QVC Group’s current executive leadership team will remain in place and work closely with George to accelerate growth, according to the company.
