A source says Deshpande has another role lined up with a publicly-traded company, though he has not yet announced which
Kedar Deshpande is stepping down as chief executive of online shoe retailer Zappos, a little over a year after replacing Tony Hsieh, the company’s leader who died last year. A company-wide email was sent out on Tuesday evening from Deshpande announcing his resignation, according to three sources. A source toldthat the company’s vice president of finance, Scott Schaefer, will take over as interim CEO. The company plans to host a live Q&A with employees Wednesday morning.
Deshpande, previously chief operating officer for Zappos, took over as CEO in August 2020, shortly after the company abruptly announced Hsieh’s retirement after 21 years at the helm. Three months later, Hsieh, 46, died after sustaining injuries from a house fire in New London, Connecticut. Born in India, Deshpande arrived in the United States to attend the University of Nevada, Reno, where he received a graduate computer engineering degree. He joined Zappos in 2011 after working at PepsiCo and General Electric in various product management and engineering roles. After nearly a decade at Zappos, he was seen as one of Hsieh’s top deputies, andThe new CEO faced an enormous challenge filling the shoes of his predecessor.
Deshpande was appointed by the Zappos board, composed of Zappos and Amazon employees, in August 2020. From the beginning of Deshpande’s tenure, there were questions of whether he could replace Hsieh, a CEO whose personality was the face of the company’s culture. Deshpande emphasized to thethat Zappos was not reliant on Hsieh’s image. “The culture is not just one person or two people,” he said.
But now that he is departing — and Amazon’s intentions for the future of Zappos unknown — it appears that Deshpande’s assertion has yet to be proven for the company Hsieh built.
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