178 Million Reasons Why Fitbit Needs An Operations Executive

Fitbit (NYSE:FIT) took a hit of $178 million last quarter due to issues with the supply chain, warranty, and soft sales. So it's not a surprise that Fitbit hired Jeff Devine as an Executive Vice President (EVP) of Operations reporting directly to the CEO. With Fitbit's business becoming more complex and sales volumes reaching almost one fitness tracker per second, small mistakes in the supply chain can quickly impact the bottom line. This new position, and Jeff Devine's experience, should help Fitbit improve its operations engine to match the pace of sales and aggressive product transitions the company has planned, while keeping gross margins high.