Door to Door Organics Appoints New CFO
Natural and organic online grocer Door to Door Organics has named David P. Maytubby as the company’s CFO, responsible for leading financial operations and investment strategy as the company continues its aggressive growth trajectory.
With an innovative customer-focused approach to the burgeoning online grocery industry, Louisville, Colo.-based Door to Door Organics works with 200 local farms and partners to deliver fresh, high-quality organic and natural food across nine states, and plans to expand into three additional markets by the end of 2014. The company is on track to achieve more than $40 million in revenue this year.
"Some of our biggest challenges in 2014 are continuing to manage our aggressive growth trajectory, infuse innovation into our core business and simultaneously maintain profitability," Maytubby told Progressive Grocer. "This food and tech market is evolving daily. Online grocery really is a complicated and multifaceted business. For us, the name of the game is to maintain strong, positive relationships with our customers, execute on our core business exceptionally well, maintain our high product standards and hire the right people to help drive the bus."
Maytubby joins Door to Door Organics’ team of veteran retail, natural foods and e-commerce technology executives, including CEO Chad Arnold and COO David Clark. Together the team will work to further bolster the company’s position as an online grocery industry leader through market expansion and new technology, while also working to raise a Series B investment.
“Door to Door Organics’ unique focus on providing [its] customers with fresh, natural and organic food from local farms and producers – along with its proven profitability, investment in e-commerce infrastructure and scalable and efficient growth model – sets the company apart in a competitive industry that is becoming increasingly crowded with ‘me too’ players,” added Maytubby. “I look forward to working with Chad, David and the rest of the Door to Door Organics team as we witness our growth first-hand and change the way consumers plan for, purchase and prepare good food.”
With more than 28 years of experience in finance roles, Maytubby’s career spans public accounting, high-tech, private equity and large-scale private investing and wealth management. Maytubby most recently served as CFO of LineRate Systems, Inc., where he guided the company through its acquisition by F5 Networks, Inc. in early 2013. Throughout his 12 years as a CFO, Maytubby has been responsible for numerous corporate transactions including M&A, debt, equity, joint ventures, and leveraged recapitalizations in multiple industries.
“We achieved tremendous success in 2013 with more than $26 million in revenue,” said Arnold. “However, our momentum will increase significantly in 2014 as we ‘double-down’ with new technology, new markets and new customer offerings that further empower people to eat Good Food. David’s deep financial experience and expertise will be an incredible asset to us as we embark on the next exciting stage of our growth.”