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Scott Savitz, founder and CEO of Shoebuy.com Inc., has stepped down as CEO of the Boston-based shoe retail website effective today.
Savitz announced the resignation in an email blast, essentially saying he was going out at the top, by touting the company’s average of 50 percent growth rate since it was founded in 2000, and the double digit growth it has been experiencing in 2011. Savitz declined to say what he would be up to next, stating simply, “There may well be interesting speculation by some about the next chapter in my life; I will let you know in due course.” The email did not include informatino about Shoebuy's succession plan.
Shoebuy.com was acquired by IAC/InterActiveCorp of New York in January of 2006 for an undisclosed amount.
In April 2010, Savitz was one of the dozen founders of the “12x12” initiative, which matches 12 leading CEOs in Massachusetts with 12 leading venture capitalists in the state to create 12 new startups in a year. The initiative was co-founded by Michael Greeley, founder and general partner at Flybridge Capital Partners, and Andy Ory, founder and CEO of Acme Packet Inc., following discussions with digital technology leaders at the Tech Hub Collaborative.
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