Anne Martin-Vachon, president of Evine Live Inc. for four months, has resigned.
Evine, in a Securities and Exchange Commission filing, said Martin-Vachon would receive $251,902 per a separation agreement in effect on Jan. 1.
The company refused to offer any more details on Martin-Vachon's resignation, citing company policy and employee privacy. A company spokesman said via e-mail that Evine's CEO, Bob Rosenblatt, "will resume his previous direct reports and once again drive our front of the house operations."
Evine, which runs a TV shopping network, considered 2018 to be the third year of a three-year turnaround and said the holiday-season results could be a key factor for the company, which saw its stock lose half its value last year.
In August, Eden Prairie-based Evine brought in Martin-Vachon from the Canadian multiplatform e-commerce company Today's Shopping Choice, where she was credited with a turnaround.
Evine had a tough third quarter, recording a $9.2 million loss. It lost $1.1 million for all of its last fiscal year.
But officials pointed to Martin-Vachon's appointment, the opening of a new studio and several logistics moves as progress in Evine's turnaround.
Evine is in third place behind competitors QVC and HSN in the TV shopping network industry.