‘We have no choice’: CEO of Wayfair to retire

CEO of the upscale hotel chain where the CEO left his job has announced he will retire from the company.In a statement, Eric Lofgren, Wayfair’s CEO, said he plans to retire from his position next month, but declined to disclose the reason.Wayfair’s move to hire a new CEO was announced in April.Wayfinder, which owns and…

Published by admin inSeptember 29, 2021
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CEO of the upscale hotel chain where the CEO left his job has announced he will retire from the company.

In a statement, Eric Lofgren, Wayfair’s CEO, said he plans to retire from his position next month, but declined to disclose the reason.

Wayfair’s move to hire a new CEO was announced in April.

Wayfinder, which owns and operates upscale resorts and hotels around the world, said Lofrengham would be replaced by Scott Kranz, a former employee.

Lofgren said in a statement that he had worked closely with Kranzo for nearly a decade.

He said he has no intention of leaving the company and will continue to serve as a board member and advisor to Wayfair.

“This is a significant time for us and our company, as we look to build on the momentum of our first quarter financial performance and accelerate our transformation to a more focused, agile and innovative company,” Lofgaard said.

WayFair said it expects to earn $8 billion in the first quarter, compared to $6.5 billion last year.

WayFairs revenue was up 6.4% year-over-year, driven by a 3.7% increase in the number of guest stays booked.

The company also said that its business of helping travelers save money by booking their own hotels was up 10% year over year.

The number of hotel rooms booked was up 14%.

WayFares average daily revenue was $2,764, down 1.5% from $2.965 a year earlier.

The company also reported revenue from its online hotel booking platform, which has been a popular source of revenue for the company for years.