AppointmentFabric appoints Curt Avallone as co-CEO to accelerate global growth
Appointment
Fabric appoints Curt Avallone as co-CEO to accelerate global growth
Avallone will serve alongside Avi (Jack) Jacoby, who took over the CEO role in 2022
Fabric, which develops hardware and software facilitating the rapid collection of online orders for retailers, announced on Monday the appointment of Curt Avallone as co-CEO alongside Avi (Jack) Jacoby, who took over the CEO role in 2022. Jacoby joined the company in 2018 as Chief of Staff and later a;sp became CEO of the Israel market and chief operating officer.
Over the past 30 years, Avallone, who will be based in the United States as the company focuses on expanding its operations globally, has launched successful eCommerce divisions at Ahold Delhaize, Giant Eagle, and CVS Pharmacy, as well as the HEB and Ahold Delhaize fueling divisions.
“I’m thrilled to be in a position to lead an organization that offers the best-in-class solution for local eGrocery needs,” Avallone said. “Fabric stands alone in the industry by providing automation solutions both purpose-made for grocery fulfillment and customizable to accommodate a grocer’s uniquely complex needs.”
“We have so much opportunity ahead of us, and I’m confident that Curt, with his experience building innovative solutions in retail and fulfillment automation, will guide Fabric through its next phase of growth,” Jacoby said. “I look forward to collaborating with him to empower grocers worldwide.”
Fabric laid off over 120 employees, more than a third of its workforce, in July 2022, nine months after it raised a $200 million Series C funding round at a company valuation of over $1 billion. Fabric was founded in 2015 by Ori Avraham, Eyal Goren, Elram Goren, and Shay Cohen, and has raised $336 million to date.
