HouseHold Direct.com, Inc. Strengthens Executive Management Team
NEW YORK, Sept. 19 /PRNewswire/ -- HouseHold Direct.com, Inc. (OTC Bulletin Board: BYITE - news) announced today that it would be adding an additional Executive position to assist in the transition from a development stage to operating Company.
According to John Folger, CEO of the Company, ``This transitional period is the most important effort that the Company will undertake, because it sets the tone and speed by which we will be able to accelerate the implementation of the business plan. The Company has recently experienced massive growing pains, and we are committed to ensure that substantial growth can be accommodated, with the management controls and operational procedures in place to sustain long term profitability.''
David Beatty will be named as the interim Chief Operating Officer, and he will be charged with managing the realignment of the Executive Management team and all of their reporting relationships. He will also be assigned to the analysis, due diligence and integration of any acquired business interests that will further the business plans of the Company. Mr. Beatty will coordinate the investment banking process, financial controls, as well as the implementation of the strategic planning process.
Mr. Beatty gained extensive experience in corporate finance and operations during his nine-year term of employment with Cadbury Schweppes, Inc., a $4.0 Billion consumer goods company. He left the Company as Director of Finance and Planning, after completing a $400 million divestiture of the Confections Division.
In addition, Mr. Beatty was the Vice President of Finance and Planning for Service America Corporation, a $1.0 Billion food service company, where he participated in the financial and operational restructuring of the Company.
He has also raised millions of dollars for several successful private and public business ventures, and has been active in both national and international ventures.
He is a graduate of Washington College where he holds a Bachelor of Science Degree in Economics, and also has an MBA in Finance from the University of Bridgeport. Mr. Beatty has been a guest lecturer at Yale University's prestigious Summer International Business Program.
HouseHold Direct provides the technology, personalized customer support, and leading edge, in-home, product delivery and fulfillment for its members and affiliates. HouseHold Direct has formed relationships across manufacturing, distribution and retail operations. Through physical locations in key markets, and with a supported Internet presence, the Company brings to the marketplace a unique shopping experience providing consumers with the ability to ``live better for less.''
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings.
CONTACT: E-mail: infohhd@householddirect.com
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SOURCE: HouseHold Direct.com, Inc.
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