FreshDirect CEO and Founder Steps Down

NEW YORK - Joseph Fedele has stepped down as chief executive of FreshDirect, the New York City online food delivery company that he helped to found just over a year ago.

Fedele said he will continue to help the company manage its relationships with food vendors and manufacturers, but that he will also look to get involved with other projects, according to Crain's Business Report.

Jason Ackerman, president, and Dean Furbush, chief operating officer, will run the day-to-day operations. "The company is in good hands," said Fedele, who declined to elaborate on why he stepped down on Jan. 9.

FreshDirect, which is based in Long Island City, Queens, and delivers in Manhattan, Brooklyn and Queens, has reached profitability, according to Fedele. The company fulfills 24,000 orders each week and is gearing up to deliver in parts of Westchester and Long Island.

The company started out with $100 million in cash and late last year received another $31 million from private investors.
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