RealTime IT News

OnSale CFO Leaving the Company

Internet auction company OnSale in Menlo Park, CA said that John Sauerland, CFO, is leaving the company to pursue other interests.

Leslie Benson, the company's vice president/controller, will serve as its acting CFO while the company completes a search for a replacement. Benson recently joined OnSale from The Good Guys, where she was controller.

Sauerland has agreed to be available for an additional two months on a consulting basis to ensure a smooth transition process.

Jerry Kaplan, OnSale chairman and CEO, publicly thanked Sauerland and said: "He was instrumental in managing our Initial Public Offering in April 1997, and our Secondary Offering in October of 1997. In addition to the traditional duties of a CFO, he established OnSale's logistics and shipping operations, and contributed to our growth in a variety of other ways as well."

OnSale specializes in selling excess merchandise and services--such as personal computers, consumer electronics, sports and fitness equipment, housewares, vacation packages, and specialty foods--over the Web.