Thursday September 9, 9:26 am Eastern Time
Company Press Release
Streamline.com Names Ed Albertian President and Chief Operating Officer
WESTWOOD, Mass.--(BUSINESS WIRE)--September 9, 1999-- Streamline.com, Inc. (NASDAQ: SLNE - news) today announced the appointment of Ed Albertian, formerly Chief Operating Officer of Star Markets Company and Senior Vice President of Staples, as its President and Chief Operating Officer.
Prior to joining Streamline.com, Mr. Albertian, 46, was instrumental in shaping the growth and development of Star Markets Company, one of the premier regional food retailers in New England, operating 49 superstores and four Wild Harvest stores, generating revenue of over $1 billion. Prior to joining Star Market, Mr. Albertian held the position of Senior Vice President of Eastern Operations at Staples, Inc., where for nine years he was responsible for the category killer's rapid store expansion plan throughout the United States as the chain grew from two stores to over 280 stores.
''Ed brings a wealth of experience in retail operations and national expansion,'' said Timothy A. DeMello, the company's founder and Chief Executive Officer. ''We are excited to have him join the Streamline.com team as we begin our national rollout.''
''As a pioneer in an emerging new industry, Streamline.com is reminiscent of Staples in its early days,'' Albertian said. ''I'm excited by this challenge and look forward to applying my experience in the food industry to the new world of internet retailing.''
DeMello also announced that Lauren Farrell, Vice President, Finance, would be leading the finance area as Rich Joseph, the current Chief Financial Officer, will be departing to join a Boston venture capital firm. Farrell, who joined Streamline.com as Controller in May 1996, has extensive corporate finance experience and earned her CPA while working at Arthur Andersen.
Streamline.com, a pioneer in the consumer direct market place, provides busy suburban families (BSFs) with timesaving lifestyle solutions. The company provides these BSFs with Internet-based ordering of a wide range of quality goods and services and delivers these items directly to their homes.
Note: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from those projected or suggested due to certain risks and uncertainties, including, without limitation, those associated with our limited operating history and history of losses, inexperience in implementing our expansion strategy, need to raise additional capital, reliance on the growth of e-commerce and the infrastructure of the Internet, increased competition, and dependence on customer acceptance of direct, unattended delivery of goods and services. Additional information concerning these and certain other risks and uncertainties that could cause actual results to differ materially from those projected or suggested, is contained in the Company's public filings with the Securities and Exchange Commission (SEC), copies of which are available from the SEC's website at sec.gov or from the Company upon request. The forward-looking statements contained herein represent the Company's judgment as of the date of this release, and the Company cautions readers not to place undue reliance on such statements. |
