Booktopia has announced the appointment of former Amazon and Barnes & Noble Executive David Nenke as its new Chief Executive Officer.
Online book retailer Booktopia has appointed a new Chief Executive Officer. David Nenke will commence in the role on 8 May 2023, and he brings with him more than 25 years of executive experience. Previously, Mr Nenke held executive roles in the US as a general manager of Amazon Explore, and as President of Digital Student Solutions at book retailer Barnes & Noble.
According to today’s announcement, Mr Nenke has a strong track record of driving enterprise value through strategic and operational innovation and bringing to companies his multi-faceted executive experience across finance, management, sales, marketing, product development, business development, web services, logistics and supply chain management.
“David was the standout candidate from a very high calibre shortlist,” Booktopia Chairman Peter George said. “He has hands-on knowledge and extensive experience as a leader in technology-driven ecommerce businesses.”
“We are confident Mr Nenke has the experience, capabilities and attributes to ensure Booktopia reaches its full potential.”
He will replace Booktopia Acting CEO Geoff Stalley, who has held the role since July 2022.
In February, the company announced it had secured its $12 million new CFC, set to be operational at the end of FY24. February also saw the company release its underwhelming first half results, with revenue down 15.3 percent. Alongside the results, the company announced plans to curb this underperformance with a series of cost cutting initiatives set to deliver an up to $15 million earnings improvement.
Mr Nenke joins Booktopia at a key time for the retailer with the pressure already on to return to profitability. Just last month, fellow online book retailer Book Depository closed up shop due to mounting financial pressures and operational costs.
Commenting on his appointment, Mr Nenke said, “Booktopia is a pioneer of e-commerce in Australia and remains a highly respected brand that is trusted by millions of book buyers every year”.
“Steering the business through the post-COVID environment while transitioning to the Next Gen CFC presents a range of challenges and opportunities for the business. With the support of the Board and the senior management team, I am confident we will be able to make Booktopia even better.”
The ecommerce landscape is changing. With a Power Retail Switched On membership, you get access to current e-commerce revenue and forecasting, traffic levels, average conversion rate, payment preferences and more!