This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

PFSweb Announces Leadership Changes

PFSweb, Inc. (Nasdaq: PFSW), an international provider of end-to-end eCommerce solutions, announced today that the Board of Directors has appointed Michael C. Willoughby as Chief Executive Officer and to the Board of Directors, effective March 26, 2013. In addition, it announced that lead director James F. Reilly has been named Chairman of the Board, also effective March 26, 2013.

The appointments of Messrs. Willoughby and Reilly follow the announcement by the Company that current Chairman and Chief Executive Officer, Mark Layton, will be leaving the Company to pursue other business opportunities. Mr. Layton will remain with PFSweb until April 30, 2013 to ensure a smooth transition. The Board determined to separate the roles of CEO and Chairman at this time in order to allow the CEO to focus more completely on increasing operating efficiency.

“We appreciate Mark’s service to the Company, and wish him well as he looks to pursue other opportunities,” said Mr. Reilly. “We want to take this opportunity to honor Mark’s role as the founder of PFSweb and acknowledge his leadership in transforming PFSweb into a leading provider of end-to-end eCommerce solutions.”

“The Board of Directors, after careful consideration, has decided that Mike has the combination of skills and professional management experience necessary to lead PFSweb forward. Since joining the Company in 1999, Mike has proven himself to be an invaluable asset. He brings to the role a tremendous amount of knowledge and experience in eCommerce technology and services, as well as an appreciation for the key growth opportunities in the industry,” said Mr. Reilly.

“I am honored to have been chosen by our Board of Directors as PFSweb’s new CEO, and look forward to focusing my talent and energies towards creating value for our shareholders,” stated Mr. Willoughby. “The demand for eCommerce services continues to grow every year as more consumers shop online. I firmly believe that PFSweb has established a leading position in the eCommerce industry and our growth opportunities are strong. As we continue to roll-out our omni-channel iCommerce initiative, we will leverage our strategic alliances with companies, such as Demandware, Shopatron, IBM and ExactTarget, together with our own PFSweb technology and service expertise and more than 75 client programs for the world’s leading brands to seek to accelerate revenue growth, drive operating efficiencies and profitability. As the new CEO, I have the benefit of an amazing team, a world-class solution and an outstanding client portfolio. I look forward to building on this solid foundation as our team works to unlock the true value and potential of PFSweb for our shareholders.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs