REDWOOD CITY, Calif.--(BUSINESS WIRE)--Shutterfly, Inc. (NASDAQ:SFLY), the leading manufacturer and digital retailer of high-quality personalized photo products and services offered through a family of lifestyle brands, today announced it has appointed Mike Pope as senior vice president and chief financial officer. Mr. Pope will join the Shutterfly Inc. team as senior vice president on October 27, 2015, and become chief financial officer on November 6, 2015. Brian Regan will transition his duties to Mike Pope and remain chief financial officer through November 6, 2015, after the filing of the 10-Q.
Mr. Pope will be responsible for managing all financial activities, including strategic planning, financial planning and analysis, investor relations, customer insights and analysis, mergers and acquisitions, accounting and legal.
“Mike is a Silicon Valley veteran who has a successful track record of profitably growing public and private companies as both a chief financial officer and chief operating officer,” said Jeffrey Housenbold, president and chief executive officer of Shutterfly Inc. “His leadership, manufacturing and operational experience will be an asset to the Shutterfly Inc. team as we continue to scale beyond a billion dollars in revenue and deliver on our Shutterfly 3.0 vision.”
Mr. Pope joins Shutterfly Inc. from Clean Power Finance, where he served as chief financial officer. He has also held the position of chief operating officer and chief financial officer at MarketTools, vice president at BearingPoint, president and chief operating officer at Network General, president and chief executive officer at DigitalThink, and chief financial officer and chairman of the audit committee at Dionex (acquired by Thermo Scientific). Mr. Pope has a Bachelor of Arts from Stanford University and an MBA from University of California, Berkeley.
In connection with his appointment, the Compensation Committee of Shutterfly Inc.’s Board of Directors granted an inducement award to Mike Pope consisting of restricted stock unit awards and performance based restricted stock unit awards representing the right to receive up to 140,000 shares of Shutterfly Inc.’s common stock. The awards will vest over four years, with 25% of the underlying shares vesting on each of the first, second, third and fourth anniversaries of the vesting commencement date. The right to receive up to 70,000 of the shares is subject to the additional condition that certain performance-based milestones be met on or before the vesting commencement date. Vesting of all of the awards is subject to Mr. Pope’s continuous service through each vesting date.
The Compensation Committee granted the award as an inducement material to Mr. Pope entering into employment in accordance with NASDAQ Listing Rule 5635(c)(4).
About Shutterfly, Inc.
Shutterfly, Inc. is the leading manufacturer and digital retailer of high-quality personalized products and services offered through a family of lifestyle brands. Founded in 1999, the Shutterfly, Inc. family of brands includes Shutterfly, where your photos come to life in photo books, cards and gifts; Tiny Prints, premium cards and stationery for all life’s occasions; Wedding Paper Divas, wedding invitations and stationery for every step of the planning process; MyPublisher, one of the pioneers in the photo book industry and creator of easy-to-use photo book-making software; ThisLife, a private, cloud-based solution that makes it easy for consumers to find, share and enjoy their photos and videos, all in one place; and BorrowLenses, the premier online marketplace for photographic and video equipment rentals. For more information about Shutterfly, Inc. (SFLY), visit www.shutterflyinc.com.