VistaPrint and COO Wendy Cebula Cutting Ties

VistaPrint, a provider of online printing and marketing materials for small businesses, is severing ties with Wendy Cebula, the company’s chief operating officer and the head of its North American business units. Reasons for the move were not disclosed, although the announcement follows a precipitous decline in VistaPrint's operating income during the nine months ended March 31.

VistPrint said the “transition agreement” with Cebula was finalized June 29. According to regulatory filings, Cebula stands to receive $906,000 in cash compensation and another $20,000 in “welfare benefits” from the company if she is terminated without cause or for good reason,