Shopping.com Announces New Executive Management Team
Business Wire - January 06, 1999 10:16
CORONA DEL MAR, Calif.--(BUSINESS WIRE)--Jan. 6, 1999--Focused on optimizing its position as one of the Internet's most comprehensive, low-price shopping destinations, Shopping.com (OTC:IBUY) has announced a new executive management team naming Randall R. Read as the company's new chairman of the board, Frank W. Denny as president and chief executive officer, and James Chamberlain as its new chief financial officer.
Read joins Shopping.com after serving as the chief financial and planning officer of Stone Container Corp., a NYSE company, from 1996 to 1998. Prior to this time, Read was a principal in American Strategic Investments L.P., a private merchant banking organization and investment fund that specialized in mergers, acquisitions, corporate buyouts and financial consulting.
Read is a certified public accountant and holds a bachelor of science degree from Tulane University. Read also has a masters of business administration degree in finance from the Wharton Graduate School, University of Pennsylvania.
"In accepting this new key role, I am extremely bullish about moving our business forward and addressing all events past or present that have contributed to negative and sometimes inaccurate media coverage during the past year," stated Read.
"I believe Shopping.com has the right business model at precisely the right time. Together with Mr. Denny and Mr. Chamberlain, we are buoyantly optimistic about this company's potential for future growth and committed to its ultimate success."
Denny, who has been Shopping.com's chairman since April 1998, assumes day-to-day executive responsibilities as president and chief executive officer, replacing John H. Markley, who will remain as a director.
Prior to 1991, Denny was a founder, chairman of the board, president and CEO of Builders Square, one of the largest retail home improvement warehouse operations in the United States, and previous to that was president of W.R. Grace Home Centers, a 300-store home center chain. He is a past officer of the Home Center Institute and a charter member of the National Home Center Congress and Exposition, and was a founder of the Do It Yourself Research Institute.
Chamberlain brings extensive financial management experience to the company, holding key positions as the senior vice president of finance at ETM Entertainment Network from 1996 to 1998 and with the Times Mirror Co. in a variety of positions for more than 10 years in the corporate division for financial planning.
Chamberlain is a certified public accountant and holds a bachelor of arts degree from the University of California, Berkeley, and a masters of business administration degree in finance from the University of Bridgeport, Bridgeport, Conn.
About Shopping.com
Shopping.com was founded with the mission to be the dominant low-price leader on the Internet, selling brand-name consumer products every day. Shopping.com is an online retailer offering more than 2 million item selections of top brand-name consumer products organized by category. Shopping.com targets both the consumer and commercial markets utilizing state-of-the-art proprietary systems technology.
Shopping.com competes with other Internet retailers such as CDnow (Nasdaq:CDNW), at cdnow.com, for music; Amazon (Nasdaq:AMZN), at amazon.com, Barnes and Noble (NYSE:BKS), at barnesandnoble.com and Books-A-Million Inc. (Nasdaq:BAMM), at booksamillion.com, for books; Cyberian Outpost Inc. (Nasdaq:COOL), at outpost.com and CompUSA Inc. (NYSE:CPU), at compusa.com, for computers; and Staples Inc. (Nasdaq:SPLS), at staples.com, for office products; along with the AOL and Yahoo shopping sites.
Shopping.com offers millions of brand-name products to the Internet shopper, ranging from computers, books, office products, CDs, pet supplies, housewares and more. Shopping.com provides everyday low prices and fast delivery using direct vendor shipping, secure online payment protection and customer-friendly check-out services to ensure a user-friendly Web shopping experience for the Internet shopper.
Visit Shopping.com's Web site at www.shopping.com or www.IBUYstores.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this news release (as well as information included in oral statements or other written statements made or to be made by Shopping.com) contains statements that are forward-looking, such as statements relating to consummation of the transaction, anticipated future revenues of the companies and success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Shopping.com. For a description of additional risks and uncertainties, please refer to Shopping.com's filings with the Securities and Exchange Commission, including Forms 10-K and 10-Q.
CONTACT: Shopping.com
Frank Denny, 949/640-4393
fdenny@shopping.com
or
Bender, Goldman & Helper, Los Angeles
Mary Lou Hotsko, 310/473-4147
marylou_hotsko@bgh.com
or
Coffin Communications Group
Sanjay Sabnani, 818/789-0100
<Picture>Headlines <Picture>Next Story
------------------------------------------------------------------------
%SHOPPING-COM IBUY CDNW AMZN %CALIFORNIA %PENNSYLVANIA %LOUISIANA %CONNECTICUT %COMPUTERS %ELECTRONICS %COMED %RETAIL %INTERACTIVE %MULTIMEDIA %INTERNET %MANAGEMENT %CHANGES V%BW P%BW |
