Plum Inc., the creator of the first fully-automated appliance that is transforming wine by the glass in homes and hotel rooms, announced that Michael Traub has been named CEO of Plum, effective August 3, 2020. Founder and current CEO David Koretz will continue to serve as Chairman of the Board and move to the newly created Chief Product Officer role.
“Plum is on a high-growth trajectory and Michael is the right person to lead Plum into the future. We’ve already benefited from his deep industry knowledge and experience running multi-billion-dollar businesses since he joined our board,” said Koretz in a statement. “Michael has an impressive background in the consumer durables sector and appliance industry; and, I am really excited to partner with him to drive this next round of growth.”
Traub is a seasoned executive with decades of global experience across sales, marketing, manufacturing, distribution, and finance in the consumer durables and home appliance industries. Traub is the former CEO of Serta Simmons Bedding, the leading bedding manufacturer in North America, where he orchestrated the merger with direct-to-consumer mattress brand, Tuft & Needle. During his leadership tenure as CEO and Board Member at Serta Simmons Bedding, he led the company through the most significant transformation in its history.
Prior to that, he served as President and CEO of BSH Home Appliances for North America, which includes the Bosch, Thermador and Gaggenau brands, where he led the development of award-winning products and dramatically increased market share. In addition to his role as CEO of BSH Home Appliances Corporation in North America, Michael also served as a member of the Board of Directors for BSH in the United States and Chairman of the Board in Canada. Traub was the President and CEO of BSH’s Latin America division, based in Sao Paulo, Brazil, where he restructured its sales and industrial footprint. Prior to that he held several leadership positions at BSH in Europe and Asia Pacific.
“I’m truly honored to lead as CEO, working alongside David to scale Plum’s business globally. In my time on the Board of Directors, it became obvious that Plum’s innovation has created an opportunity to build a global consumer brand,” Traub said in a statement. “David and his team have disrupted the appliance industry by merging hardware, software and AI to deliver an incredible user experience with the most innovative appliance the industry has seen in decades.”
About Plum
Headquartered in Dania Beach, Florida, Plum launched in 2017 and is transforming how consumers and hotel guests enjoy wine from the bottle to by-the-glass. The company was created with a single goal of changing the way wine is served to match the way people live. Plum was awarded the 2020 Best of KBIS Gold medal, DesignBites Biggest Bite, and Hotel Technology’s HTExpo TechPitch. For more information, visit www.plum.wine.
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