NEW YORK (TheStreet) -- Shutterfly (SFLY) - Get Report shares are slipping 3.8% to $45.03 on Friday morning after the digital photo company announced Christopher North, who comes over from leading Amazon.com's (AMZN) U.K. business, as its new CEO.
Most recently he served as the e-commerce giant's managing director for the U.K. business since 2011. Under his guidance, Amazon's U.K. revenue has accelerated to more than $9 billion in 2015.
Interim CEO Phil Marineau will continue to head the company until North begins his role on May 31.
"We are very excited to welcome Chris to the Shutterfly team. His outstanding track record at one of the most successful eCommerce companies in the world makes him an incredible asset to this organization," Marineau stated.
At the end of February, the company disclosed receiving takeover interest but was not engaged in talks, according to the Wall Street Journal.
Based in Redwood City, CA, Shutterfly engages in manufacturing and retailing personalized products and services in the U.S.
Separately, TheStreet Ratings currently has a "Hold" rating on the stock with a letter grade of C.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles' author.
You can view the full analysis from the report here: SFLY