QVC Inc. president and CEO Doug Briggs will retire next March, QVC parent Liberty Media Corp. announced Monday.
Briggs has been president and CEO since 1995, and he has been with the home shopping service since its inception in 1986.
Liberty said it expects to name a successor in six to nine months.
“QVC has been an important and fun part of my life for almost 20 years, but there are other things in life that I would like to do," Briggs said in a prepared statement.
“I am looking forward to spending more time with my family and friends and to enjoying all of the things I have postponed as I focused on running the QVC business,” he added.
“QVC, under Doug's leadership, has been an amazing success story, growing revenue from $1.5 billion in 1994 to $5.7 billion in 2004,” Liberty CEO Robert Bennett said in a prepared statement.
“This excellent financial performance is the result of the very strong culture of integrity and respect for the customer that Doug has nurtured over many years,” he added. “We are going to miss his leadership. However, I am very pleased that we will have the benefit of Doug's guidance for the next year and his invaluable input as we search for his replacement.”
