Thinkific Labs this week announced the appointment of Steve Krenzer to the role of President.
The Vancouver-based platform for creating, marketing, and selling online learning products, says that Krenzer will be “responsible for driving operational excellence and further advancing executional focus across the organization.”
“As Thinkific continues to execute on its mission to equip creators with the ultimate set of tools to build and grow knowledge commerce businesses, we are committed to seeking out remarkable talent who can help us realize our vision and meet our long-term goals,” said Greg Smith, CEO of Thinkific, which laid off 20% of their workforce earlier this year.
“Steve’s track record for building high-growth technology companies, his expertise in operations, sales and marketing, as well as his understanding of Thinkific’s business due to his role on the board, all contribute to our next stage of growth,” stated Smith.
Thinkific shares are down roughly 85% over the past year. However, Krenzer believes the BC company “has a differentiated market position” and the possesses passion and strong culture required for a rebound.
“The opportunity to work more closely with the excellent team at Thinkific, and play an active role in advancing the business as it moves into its next stage of growth, was very compelling—and one I’m looking forward to,” he said.
Previous roles for Krenzer included serving as Chief Operating Officer at global e-commerce marketplace Groupon and Chief Executive Officer at Core Digital Media.
“Our near term outlook for the business remains unchanged, and we continue to see growth in the knowledge economy,” added Smith. “At the same time, we are constantly looking for opportunities to improve, drive execution and ensure our Company is well positioned for growth.”
Thinkific’s 50,000 active creators earn hundreds of millions of dollars in direct course sales while teaching tens of millions of students.