Financially Ailing ShopNBC Makes QVC Veteran McGrath Permanent CFO

Bill McGrath

After serving as chief financial in an interim position, William McGrath Monday was officially named ShopNBC chief financial officer and senior vice president.

QVC alum McGrath has more than 20 years of multi-channel industry expertise as well as global operations and financial leadership experience. He joined ShopNBC in January as vice president of quality assurance and was named interim chief financial officer in February, replacing Frank Elsenbast, who left the company.

Prior to joining ShopNBC, McGrath served as vice president global sourcing operations and finance at QVC. During his tenure at QVC, he also served as vice president corporate quality assurance and quality control; vice president merchandise operations and inventory control; vice president market research and sales analysis; and director financial planning and analysis.

Previously, McGrath held a variety of financial leadership positions at Subaru of America, and Arthur Andersen. He holds an MBA in Finance from Drexel University, and a BS in Accounting from Saint Joseph’s University.

“Bill brings over two decades of diverse financial and operational leadership experience in his appointment as our CFO,” ShopNBC CEO Keith Stewart said in a canned statement. “He has the right balance of industry financial acumen along with practical domestic and international operations experience that uniquely positions him for this role. Bill is an invaluable addition to the management team, and we very much look forward to his continued contributions and keen insights in driving the business.”

McGrath obviously knows where his bread is buttered, and kissed up to the boss.

“It is a pleasure to work with such a veteran leadership team and talented group of team members at the company,” he said in his canned statement. “I look forward to helping ShopNBC meet its goals of delivering shareholder value today and tomorrow.”

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2 Responses to “Financially Ailing ShopNBC Makes QVC Veteran McGrath Permanent CFO”

  1. stefF Says:

    does anyone think more heads will roll? i mean, host heads?

    • betterskills Says:

      I thought Skelton would be out of there because of his baggage and antics but they keep him around. Invicta sale have had to suffer because of Swinagate, the Great D-D debacle of 2010 and the recent revelation that the Invicta Diamond Classique presented has having 42 diamonds were actually crystals.

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