New COO at Moo
Wednesday, June 21, 2017
Moo has appointed a former Vistaprint executive as its new chief operating officer.
Nick Ruotolo joined the online digital print and design business earlier this month. He has worked in e-commerce since 1999 and was most recently chief commercial officer at luxury private rental business Onefinestay, which was sold to AccorHotels in a £167m deal earlier this year.
Ruotolo said he had long admired the Moo team and the company’s growth trajectory. “Moo is a company with an impressive history and even more potential, and I look forward to being part of its continued growth and success,” he said.
He replaces John Kennedy, who is now chief executive at adjustable focus glasses business Adlens.
Ruotolo worked at Vistaprint for seven years, and spent four years as president of its European business where he oversaw a period of substantial growth. He subsequently moved to Cleverbug.
Moo founder and chief executive Richard Moross said he was “extremely excited” to have Ruotolo on board at the London-headquartered business. “His considerable growth and deep sector experience will significantly add to Moo’s commercial and operational edge, helping us accelerate through our second decade of hyper-growth."
In its most recent financial filings, for the year ending December 2015, Moo recorded its ninth consecutive year of sales growth, with sales jumping by just under 42% to £54.5m, and topping the £50m barrier for the first time.
In his commentary Moross said Moo was edging “ever-closer to profitability”, with an EBITDA margin of -1.8%. It made an operating loss of £3.6m (2014 operating loss: £4.2m). The US is Moo’s biggest market, and 82% of sales come from overseas.
During 2015 Moo raised a further £6m from its investors to support its “multi-year growth strategy”.
The firm appointed a new chairman earlier this year.
Moo also launched a new range of Cotton business cards earlier this month, the result of a collaboration with Mohawk Fine Papers to produce cotton paper from the offcuts created during the production of white T-shirts.
Moross said the firm was “attempting to create a new classic out of an iconic item of clothing”.
Pricing starts at £19.19 for a pack of 50 Cotton business cards.