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Wednesday, Jun 29, 2022

Stamps.com Chief Executive Steps Down After 20 Years, Names Replacement

Ken McBride, chief executive of El Segundo-based Stamps.com, has stepped down from his role after more than 20 years, the company announced Nov. 1.

McBride is succeeded by Nathan Jones, president and chief executive of Austin, Texas-based ShipStation, which was acquired by Stamps.com in 2014. McBride will remain at Stamps.com through the end of the year to assist the transition, the company said.

McBride will stay on Stamps.com’s board of directors. Jones will also join the company’s board.

“Our merchants depend on us to provide software products that provide simple solutions to complex logistical problems and Nathan (Jones) brings a merchant-focused vision and a superior level of proven results,” McBride said in a statement.

McBride first joined Stamps.com as its chief financial officer in 2000 and took on the role of chief executive in 2001. He joined the company’s board in 2012.

Jones became ShipStation’s chief executive and president in 2013. Prior to joining ShipStation, he served as president of Dallas-based Journey Education Marketing after its acquisition by Plano, Texas-based Academic Superstore. Jones is the founder and former president and chief executive of Academic Superstore.

“I am thrilled to take on this new role at Stamps.com and lead the company in its next chapter,” Jones said in a statement. “Under the visionary leadership of Ken McBride, Stamps.com has become the leader in solving shipping and logistics problems for merchants around the globe.”

The leadership shake-up comes about three months after Stamps.com’s $6.6 billion acquisition by Thoma Bravo, a Chicago-based private equity firm. The acquisition delisted Stamps.com from the Nasdaq. The company first went public in June 1999 amid the dot-com bubble.

Stamps.com saw earnings jump 33%, bringing in $758 million, in fiscal 2020 as package shipment and ecommerce sales boomed during the pandemic.

“We're excited that Nathan (Jones) will be the next CEO at Stamps.com, helping us as we continue to pursue our mission of providing merchants the tools to solve global shipping and logistics problems,” Charles Goodman, chairman of Stamps.com and operating partner at Thoma Bravo, said in a statement.

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