Egghead.com Inc., its stock opening this morning only 15 cents
above its 52-week low of 50 cents a share, said it is beefing up its senior
management team — adding a new chief financial officer as well as a senior
VP for marketing.
Earlier this month, the Menlo Park, CA-based Internet retailer of computers,
software and other technology products products on the Internet, which at
one-time was a chain of real-world stores, laid off 12 percent of its staff.
The 77 jobs were cut in an effort to turn a profit by the fourth quarter.
The company, which snagged a $20 million credit line from International
Business Machines Corp.
on March 7, said the staff additions
support the company’s focus on the Small- to Medium-sized Business (SMB)
community and its climb toward profitability.
Egghead.com said that CFO John Labbett is
leaving “to pursue a new opportunity closer to his home in Los Angeles.” He
was credited for helping to secure the IBM deal.
Mark C. Shepherd was hired as the new CFO. Most recently, he served as
managing partner, finance and CFO of 54th Street Partners, a management
consulting company he co-founded in 1999. Prior to that, he served as CEO and
COO for YES! Entertainment Corp., SVP finance and operations for
Einstein/Noah’s Bagel Corp., and CFO of Lewis Galoob Toys.
Also joining Egghead.com are Robert Islinger, senior vice president of
marketing; Eileen Charlton, controller and vice president of finance; and
Gordon Viggiano, vice president of direct sales, a new position.
Islinger has experience as senior vice president of marketing, advertising,
and promotions for Office Max Inc. and senior vice president of strategic
planning and marketing for Payless Cashways Inc.
Egghead reported a fiscal 2000 net loss of $62.2 million on revenues that
were down 12 percent to $478.8 million. The stock
at mid-morning was trading
at 62 cents a share, down about 9 percent.