Shares of Blue Apron soared Friday, a day after the meal-kit company announced that co-founder Matt Salzberg stepped down as CEO.
The move comes less than six months after Blue Apron became a public company. Its stock is down nearly 70 percent since the end of June, and the company announced layoffs in October that cut 6 percent of its workforce.
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The New York company said late Thursday that Salzberg was replaced as CEO by Chief Financial Officer Brad Dickerson. Salzberg, who co-founded the company 5 years ago, will be the company's executive chairman and will remain chairman of the board. The company is searching for a new chief financial officer.
Shares of Blue Apron Holdings Inc. rose 23 cents, or 7.7 percent, to $3.22 in morning trading.