Shutterfly (SFLY) Board Member Philip Marineau Resigns

Shutterfly, Inc. (NASDAQ:SFLY) recently announced that post the company’s annual shareholder meeting on Jun 21, Mr. Philip Marineau will be resigning as the company’s chairman and from its board of directors. Following his departure, Brian Swette will be serving as the interim chairman.

Notably, Marineau has served as chairman of the board for a span of almost nine years. Interestingly, Marineau also acted as the interim Chief Executive Officer (CEO) of the company for a brief period till the arrival of Christopher North. In Marineau’s tenure, Shutterfly grew as a brand name, and recorded $1 billion in revenues.

Meanwhile, the company has retained Spencer Stuart to supervise the search process for filling open board seats as well as the chairmanship.

Going forward, Shutterfly’s acquisitions, improved offerings in the growing mobile e-Commerce segment, aggressive promotions and easy-to-use products would continue to boost revenues.

Of late, the company has added new features like facial recognition algorithm, hide and filter to its enhanced cloud service, ThisLife. This has allowed consumers to gather and organize photos and videos from multiple devices, cloud services and social networks.

Personalized print products are performing well mainly on the back of aggressive promotions, affordable prices and simplicity of usage.

Further, the company’s expansion of its manufacturing facilities will help it to produce high-quality innovative products and ensure timely shipment even during the busy holiday season.

Zacks Rank & Other Stocks to Consider

Shutterfly currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the same industry include WebMD Health Corp. (NASDAQ:WBMD) , Points International Ltd. (NASDAQ:PCOM) and Shutterstock, Inc. (NYSE:SSTK) . While WebMD sports a Zacks Rank #1 (Strong Buy), Points International and Shutterstock hold a Zacks Rank #2 (Buy).