QVC Group, Inc 8-K, filed Mar 1, 2023
QVC Group, Inc. (QVCG)
8-K
2023-03-01
For: 2023-03-01
View Original
Added on
July 04, 2026
About this 8-K
QVC Group, Inc filed this 8-K on March 1, 2023.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): March 1, 2023
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (484 ) 701-1000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
On March 1, 2023, Qurate Retail Group ("Qurate Group"), a portfolio of brands including QVC, Inc. ("QVC"), HSN, Inc., Zulily, LLC and the Cornerstone Brands, issued a press release announcing that Bill Wafford will join Qurate Group and QVC as Chief Financial Officer. He will assume his new role on March 20, 2023 and will report to David Rawlinson, President and Chief Executive Officer of Qurate Retail, Inc, the parent company of QVC. James Hathaway, who had been serving as Interim CFO since August 2022, will become the CFO of QVC US.
Qurate Group also announced that Larry Hayes, Qurate Group’s General Counsel, is retiring and will be moving into a senior advisor role on the legal team effective March 2 and will serve in that role until his departure. Eve DelSoldo will serve as Deputy General Counsel and lead the Legal team effective March 2, as the company conducts a search to backfill the General Counsel role. The update was posted on the Qurate Group website (www.qurateretailgroup.com) and is included as Exhibit 99.2.
This Current Report on Form 8-K and the press release attached hereto as Exhibit 99.1 and the communication attached hereto as Exhibit 99.2 are being furnished to the Securities and Exchange Commission under Item 7.01 of Form 8-K in satisfaction of the public disclosure requirements of Regulation FD and shall not be deemed "filed" for any purpose.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |||||||
| 99.1 | ||||||||
| 99.2 | ||||||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| QVC, Inc. | |||||
| Date: March 1, 2023 | By:/s/ JOHN F. MISKO | ||||
John F. Misko | |||||
Senior Vice President and Controller | |||||
Exhibit 99.1
Item 7.01. Regulation FD Disclosure.
Qurate Retail Group Names Bill Wafford CFO
Executive Brings Proven Track Record in Retail, e-Comm and Large-Scale Growth Programs
WEST CHESTER, Pa., March 1 /PRNewswire/ -- Qurate Retail GroupSM, part of Qurate Retail, Inc. (Nasdaq: QRTEA, QRTEB, QRTEP), today announced the appointment of Bill Wafford as its Chief Financial Officer. Wafford has more than 25 years of experience in corporate finance, management consulting and executive leadership across retail, consumer goods and digital commerce businesses. He will report to David Rawlinson II, President and CEO of Qurate Retail, Inc. James Hathaway, who had been serving as Interim CFO since August 2022, will become the CFO of QVC® US.
“Qurate Retail is in the midst of a multi-year growth plan that touches every facet of our business and is focused on stabilizing the core business and expanding our leadership in video streaming commerce,” said Rawlinson. “As we execute our strategic plans, we are excited to add someone of Bill’s experience and talent to lead our finance team. He brings strong strategic insights on operations and transformations, a disciplined financial approach, and a commitment to a team-oriented culture that will enable us to sharpen our focus on the key areas that will drive our success.”
Added Rawlinson, “I want to thank Jim for stepping into the CFO role on an interim basis and maintaining a high-level of focus and attention to the business as we have pursued Project Athens with vigor. We are pleased he’s staying on as CFO of QVC US, our largest business unit, which will bring continuity and expertise as we implement our turnaround plans.”
Wafford joins Qurate Retail Group from Everlane, a digitally native apparel brand, where he was the Chief Financial Officer. Prior to Everlane, he served as Chief Financial Officer for retail companies such as JCPenney, The Vitamin Shoppe and Thrasio. He also previously served as Partner in the advisory practice group at KPMG, after holding various executive finance roles with Walgreens Boots Alliance, Target and Archstone Consulting. Wafford has an MBA in Finance / Strategy from Indiana University - Kelley School of Business and a BS in Economics from University of California, Riverside.
Commenting on his appointment Wafford said, “Qurate Retail is a company I have long admired within the retail industry. It’s platforms, products and approaches to connecting with consumers are unmatched and I’m very pleased to join David and the entire management team at this important time for the company.”
Wafford officially begins with the company on March 20. He will be based at the company’s global headquarters in West Chester, Pa.
About Qurate Retail Group
Qurate Retail GroupSM comprises seven leading retail brands – QVC®, HSN®, Zulily®, Ballard Designs®, Frontgate®, Garnet Hill® and Grandin Road® – all dedicated to providing a more human way to shop. Qurate Retail Group is the largest player in video commerce (“vCommerce”), which includes video-driven shopping across linear TV, ecommerce sites, digital streaming and social platforms. The retailer reaches more than 200 million homes worldwide via 14 television channels, which are widely available on cable/satellite TV, free over-the-air TV, and digital livestreaming TV. The retailer also reaches millions of customers via its QVC+ and HSN+ streaming experience, websites, mobile apps, social pages, print catalogs, and in-store destinations. Qurate Retail Group combines shopping and entertainment to curate products, experiences, conversations and communities for millions of highly discerning shoppers. Headquartered in West Chester, Pa., Qurate Retail Group has team members in the U.S., the U.K., Germany, Japan, Italy, Poland and China. For more information, visit qurateretailgroup.com, follow @QurateRetailGrp on Facebook, Instagram or Twitter, or follow Qurate Retail Group on YouTube or LinkedIn.
Qurate Retail, Inc. (NASDAQ: QRTEA, QRTEB, QRTEP) is a Fortune 500 company that includes the Qurate Retail Group portfolio of brands as well as other minority interests and green energy investments.
Exhibit 99.2
Item 7.01. Regulation FD Disclosure.
Larry Hayes to Retire as Qurate Retail Group’s General Counsel
CORPORATE
March 1, 2023: Larry Hayes, who leads Qurate Retail Group’s global legal organization, has announced his retirement after more than 30 years with the company. Larry will move into a Senior Advisor role effective March 3rd and will remain in this capacity into Q2 2023 when he will depart the organization.
“We thank Larry for his leadership over his 30--plus year tenure and wish him all the best as he begins his next chapter,” said David Rawlinson, President and CEO of Qurate Retail, Inc. “Larry has played a critical role in countless company milestones, including our growth into new markets and the expansion of our portfolio of brands.”
Larry joined QVC in 1992 in the role of Associate Counsel. During his time with the company, he held roles of increasing responsibility in the Legal team, ultimately taking on the role of General Counsel for Qurate Retail Group in December 2017, with responsibility for management of the Group’s Legal, Ethics and Compliance, Privacy, and Government Affairs functions. Previously he served as QVC’s General Counsel.
Eve DelSoldo will serve as Deputy General Counsel and lead the Legal team effective March 2, as the company embarks upon a formal search to backfill the General Counsel role.