Staples promotes Faisal Masud to chief technology officer
December 19, 2016 04:25 PM
Office supplies chain Staples Inc.’s head of e-commerce just got a promotion.
Staples promoted Faisal Masud to the role of chief technology officer from executive vice president of global e-commerce. In announcing Masud’s promotion, Staples described his new job—a new position for the retailer—as being a sort of hybrid position wherein he’ll be responsible for overseeing the growth of the company’s technology and its online sales. “Aligning our e-commerce and global technology organizations under one leader will speed execution so we can more rapidly bring digital solutions to market, and drive even greater innovation within the business as we continue to enhance our B2B customer experience,” CEO Shira Goodman said. Goodman herself was promoted in September to the chief executive role after more than 23 years at Staples.
Earlier this month, Staples announced the sale of a majority stake of its European business, including its e-commerce business, to private-equity firm Cerberus Capital Management L.P. In November, it sold its U.K. business to Hilco Capital Ltd. At the time the company said it wants to make its North American business its focus.
This is the second time Staples, No. 5 in the Internet Retailer 2016 Top 500 Guide, has created a new position specifically for Masud. When Staples hired Masud away from Groupon Inc. in May 2013, it created the position of vice president of global e-commerce for Masud to fill, and charged him with putting the retailer’s cross-channel strategy into place. He’s credited with overseeing a number of innovations during his tenure at Staples, including the opening of five innovation and e-commerce centers known as Staples Labs, and the company’s newly launched Easy Button connected commerce initiative.
Since Masud joined Staples, the retailer has grown its online sales to $10.7 billion in 2015, up 2.9% from $10.4 billion in 2013.