FreshDirect Promotes Jason Ackerman To Chief Executive Officer

FreshDirect Inc., an online grocer in New York that also operates a vending service, has named Jason Ackerman, FreshDirect founder and CFO, as chief executive officer, effective immediately.

Jim Manzi, chairman, said: "Jason Ackerman is the right person to lead FreshDirect into its next phase of growth.  Jason is a proven leader with a combination of financial and operational expertise and a deep understanding of all aspects of the business. He has been a driving force behind FreshDirect's unique business model and is highly respected within our organization.  As a senior leader, he has helped develop and deliver on FreshDirect's growth strategy, most recently with our new investment and partnership with Morrisons. With this appointment, FreshDirect is better positioned for the future than ever before."

Jason Ackerman is a founder of FreshDirect, which was created in 1999, and is a member of its Board of Directors. He has served as its Chief Financial Officer for the past seven years.  Before founding FreshDirect, he was an investment banker with Donaldson Lufkin & Jenrette and Crown Capital Group, where he specialized in mergers and acquisitions and corporate financings primarily for the supermarket and specialty retail space.

Ackerman said in a prepared statement, "I am honored to be selected as FreshDirect's CEO. I look forward to continuing to work closely with the talented group of people here as we continue to seek ways to improve our business and expand our customer base. I am committed to continuing our strategy of making great customer service and quality fresh food the priority throughout our organization. I am excited about our future and committed to ensuring that FreshDirect is well-positioned for continued success."

In March 2011, Wm Morrison Supermarkets plc (LON: MRW), Britain's fourth largest food retailer, invested $50 million in FreshDirect Holdings LLC and acquired an approximately 10 percent equity stake in FreshDirect. Dalton Phillips, Morrisons CEO, and a member of the FreshDirect Board, commented on Ackerman's appointment, "Jason has already won our confidence and as he leads FreshDirect forward, Jason and the management team will continue to have my full support."