Disappointing growth has led to a change in the executive suite at wine cataloger Geerlings & Wade. Cofounder Huib Geerlings, the chairman of the board, has replaced David Pearce as president/CEO. Pearce remains chief financial officer of the Canton, MA-based company.
“During the last nine months, the company has made substantial investments to explore new channels and other avenues for growth,” Geerlings said in a statement. “While this effort has yielded some positive results, it has not led to the desired revenue acceleration.”