Amazon Top Aggregator Thrasio Loses CEO, 5 Other Senior Execs Following Bankruptcy Filing

By Jace Dela Cruz

Apr 25, 2024 01:50 AM EDT

Thrasio, a major aggregator of Amazon third-party sellers, is undergoing drastic leadership changes. Following the company's recent bankruptcy filing, its CEO and five other senior executives are departing. 

The logo of e-commerce company Amazon is pictured on parcels in Manta, Northwestern Italy, on March 29, 2024.
(Photo : MARCO BERTORELLO/AFP via Getty Images)

Amazon Aggregator Thrasio CEO Steps Down

According to an internal memo seen by CNBC, Greg Greeley, the CEO of Thrasio, announced his resignation to staff on Tuesday. Alongside Greeley, the company's finance chief Josh Burke and several other key executives are also leaving their positions.

In the wake of these departures, Stephanie Fox, currently Thrasio's chief operating officer, is set to take over as CEO. The departing executives will remain onboard temporarily to ensure a smooth transition during the company's emergence from Chapter 11 bankruptcy in the coming weeks.

Thrasio gained prominence for acquiring successful Amazon brands and consolidating them under its umbrella, using its data and operational expertise to drive sales growth. Thrasio recently faced financial challenges despite its previous success, leading to a bankruptcy filing.

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Amazon Aggregator Thrasio Will Also Conduct Layoffs

The company is also implementing layoffs across all levels of its workforce, although specific details regarding the extent of the layoffs were not disclosed. In the memo, Greeley cited the need for further restructuring to align operating expenses with revenue projections and future financial obligations.

Thrasio is also exploring divesting some of its smaller or more complex brands to streamline its operations and improve financial performance. 

READ MORE: Amazon Hired Ex-Trader Joe's Employee to Replicate Products for Wickedly Prime Brand, WSJ Reports

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