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Geeknet Announces Planned Departure Of President And CEO Of ThinkGeek, Inc.

FAIRFAX, Va., Aug. 20, 2012 /PRNewswire/ -- Geeknet, Inc. (Nasdaq: GKNT), the online network for the global geek community, today announced that Colon Washburn plans to step down as President and Chief Executive Officer of ThinkGeek, Inc., Geeknet's wholly-owned e-commerce subsidiary, effective December 31, 2012 and will transition his duties between now and the end of the year. 

(Logo: http://photos.prnewswire.com/prnh/20120510/MM05555LOGO)

The Board of Directors and senior management of Geeknet have initiated a search process for a replacement for Mr. Washburn.

Ken Langone, Chairman and Chief Executive Officer of Geeknet, said, "I would like to thank Colon for his service to ThinkGeek.  In his time at the company, Colon has been instrumental in creating a more efficient inventory management system and achieving substantial costs savings in our warehouse operations while at the same time investing in the research and development that makes ThinkGeek the premier retailer for the global geek community.  He has helped create the foundation for lasting success at ThinkGeek, and the Board and management greatly appreciate his contributions and wish him all the best in his future pursuits."

Mr. Washburn said, "Having accomplished my primary objectives as head of ThinkGeek, I am looking forward to returning to my home to apply my experience to a new challenge.  While I have decided to pursue other endeavors, I am committed to remaining focused on serving ThinkGeek through the end of the year and am looking forward to another successful holiday season." 

ABOUT THINKGEEK

ThinkGeek is the premier retailer for the global geek community.  A wholly owned subsidiary of Geeknet, Inc., ThinkGeek was founded in 1999 to serve the distinct needs and interests of technology professionals and enthusiasts.  Today, ThinkGeek has grown to become the first choice for innovative and imaginative gifts that appeal to the geek in everyone.  For more information, please visit www.thinkgeek.com or call 1.888.GEEKSTUFF.

ABOUT GEEKNET

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