Blue Apron Appoints Brad Dickerson as Chief Executive Officer

Co-Founder Matt Salzberg Named Executive Chairman

Dickerson Brings Proven Record Leading Public Consumer Companies

Company Reaffirms Previously Stated Financial Guidance

NEW YORK–(BUSINESS WIRE)–
Blue Apron Holdings, Inc. (NYSE:APRN) today announced that the Company’s
Board of Directors has appointed Brad Dickerson as President and Chief
Executive Officer. He will assume day-to-day leadership of the Company
and will also join Blue Apron’s Board of Directors. Dickerson, a
consumer and capital markets veteran, has served as Blue Apron’s Chief
Financial Officer since he joined the Company in February 2016. Matt
Salzberg, Blue Apron’s co-founder, has stepped down from his role as
President and Chief Executive Officer and has been named Executive
Chairman. Salzberg will also continue to serve as Chairman of the Board
of Directors. The Company has commenced a search for a new Chief
Financial Officer.

“It has been a tremendous honor to serve as the CEO of Blue Apron since
founding the company and I am incredibly proud of everything our team
has accomplished together in just five years,” said Salzberg. “We’ve
made meaningful progress toward our top company priorities. Since we
completed the transition of volume to our fulfillment center in Linden,
New Jersey
less than two months ago, our most recent On-Time-In-Full
rates have improved to be in line with our other fulfillment centers.
Additionally, as expected, our margins since the end of the third
quarter have significantly improved.”

“The Board and I are confident that Brad is the right person to build on
this momentum,” Salzberg continued. “He is a seasoned leader with
significant experience working with the public markets, operating
efficiently at scale, and delivering value to shareholders. We are lucky
to have him as our next CEO.”

Before joining Blue Apron, Dickerson, 52, spent eleven years at Under
Armour in senior leadership roles including as Chief Financial Officer
and Chief Operating Officer. As one of Under Armour’s most tenured
executives, Dickerson helped advance the company’s growth strategy,
leading strong teams around him that took Under Armour from $200 million
to $4 billion in net revenue. As Under Armour’s Chief Operating Officer,
he was also instrumental in driving operational efficiencies across the
company’s global supply chain that included multiple distribution
channels.

“I know that I speak for everyone at Blue Apron in thanking Matt for his
leadership and tireless dedication to the company,” said Dickerson. “I
am incredibly excited to assume this new role and for the future of the
company. We have an exceptionally talented team at Blue Apron that is
focused on taking decisive actions to transform the business, continuing
to innovate our product in new and diverse ways, and unlocking future
growth opportunities. We remain confident in our previously stated
financial guidance for the second half of 2017, and I believe we are
taking the right steps to move the business forward.”

Dickerson will participate in the Raymond James Technology Investors
Conference in New York on Monday, December 4, 2017 at 1:15 p.m. Eastern
Time. He will also speak at the KeyBanc Capital Markets Consumer
Conference featuring Convergence on Wednesday, December 6, 2017 and the
Company will meet with investors throughout the day.

A live webcast and replay of the Raymond James session will be available
on Blue Apron’s Investor Relations website at investors.blueapron.com[1].

About Blue Apron

Blue Apron’s mission is to make incredible home cooking accessible to
everyone. Launched in 2012, Blue Apron is reimagining the way that food
is produced, distributed, and consumed, and as a result, building a
better food system that benefits consumers, food producers, and the
planet. The Company has developed an integrated ecosystem that enables
the Company to work in a direct, coordinated manner with farmers and
artisans to deliver high-quality products to customers nationwide at
compelling values.

Forward-Looking Statements

This press release includes statements concerning Blue Apron Holdings,
Inc. and its future expectations, plans and prospects that constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. For this purpose, any
statements contained herein that are not statements of historical fact
may be deemed to be forward-looking statements. In some cases, you can
identify forward-looking statements by terms such as “may,” “should,”
“expects,” “plans,” “anticipates,” “could,” “intends,” “target,”
“projects,” “contemplates,” “believes,” “estimates,” “predicts,”
“potential,” or “continue,” or the negative of these terms or other
similar expressions. Blue Apron has based these forward-looking
statements largely on its current expectations and projections about
future events and trends that it believes may affect its business,
financial condition and results of operations. These forward-looking
statements speak only as of the date of this press release and are
subject to a number of risks, uncertainties and assumptions including,
without limitation, risks related to its announced management and
organizational changes, the continued service and availability of key
personnel, its ability to expand its product assortments by offering
additional products for additional consumer segments, the Company’s
anticipated growth strategies, anticipated trends and challenges in its
business, and its expectations regarding, and the stability of, its
supply chain, and the risks more fully described in the Company’s
Quarterly Report on Form 10-Q for the quarter ended September 30, 2017
filed with the U.S. Securities and Exchange Commission (the “SEC”) on
November 3, 2017 and other filings that Blue Apron may make with the SEC
in the future. Blue Apron assumes no obligation to update any
forward-looking statements contained in this press release as a result
of new information, future events or otherwise.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171130006234/en/[2]

Blue Apron
Investors:
Felise Glantz Kissell,
347-560-5636
felise.kissell@blueapron.com
or
Media:
Nisha
Devarajan, 512-965-2827
nisha.devarajan@blueapron.com[3][4]

Source: Blue Apron Holdings, Inc.

References

  1. ^ investors.blueapron.com (cts.businesswire.com)
  2. ^ http://www.businesswire.com/news/home/20171130006234/en/ (www.businesswire.com)
  3. ^ felise.kissell@blueapron.com (investors.blueapron.com)
  4. ^ nisha.devarajan@blueapron.com (investors.blueapron.com)

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