HSN Inc. top exec quits, takes new job

ST. PETERSBURG — HSN Inc. CEO Mindy Grossman will step down to become the president and CEO of Weight Watchers International.

Grossman's resignation will be effective May 24. Until then, she will work with senior management and the board of directors on the transition, according to a statement.

“I'm extremely proud of what we've accomplished at HSNi and believe that the company is well positioned for the future,” says Grossman in a press release. “It has been an honor to work with such an inspired team over the past decade as we transformed the business to lead the future of boundaryless retail.”

The HSN board retained a national search firm to find a successor. The search will include internal and external candidates. The board also established the Office of the Chief Executive whose members will manage the company's day-to-day operations until a successor is named.

“On behalf of the board, we thank Mindy for her visionary leadership and many contributions to our company during a transformative period in its history,” says Board Chairman Arthur Martinez in a statement. “She has been a committed partner to the board in the development of important initiatives that have created a solid foundation for the future.”

HSN Inc. is a multichannel retailer. Net sales for the first quarter of 2017 were $785.4 million, a decrease of 4% compared to the first quarter of 2016.