RedEnvelope, Inc. Announces Appointment of Chief Financial Officer
18 Mars 2008 - 11:30PM
PR Newswire (US)
SAN FRANCISCO, March 18 /PRNewswire-FirstCall/ -- RedEnvelope, Inc.
(NASDAQ:REDE) today announced the appointment of Philip E. Neri as
its new Chief Financial Officer. Mr. Neri will replace William T.
Gochnauer who has been serving as the Company's Interim Chief
Financial Officer since December 2006. "We are very pleased to
announce Phil's appointment as our new Chief Financial Officer,"
said John Pound, RedEnvelope's Chief Executive Officer. "Phil
brings to his new position a great base of experience in the retail
and consumer direct sectors, and a compelling record of leadership
and accomplishment at RedEnvelope in the past two years. In his new
role, he will play a significant part -- as he has been already --
in planning and executing our core strategy. I look forward to
working with him in his new role." Mr. Pound added, "We are
grateful to Bill for his guidance and service to RedEnvelope and we
look forward to continuing to work with Bill as our advisor."
Immediately prior to his appointment as Chief Financial Officer,
Mr. Neri was the Vice President of Finance at the Company. Prior to
that, he served as the Director of Finance of Restoration Hardware,
Inc. and as acting Chief Financial Officer at Gump's Corp., a
high-end specialty retailer. Mr. Neri also spent six years at
Williams Sonoma, Inc., first as a Senior Financial Analyst, then as
Retail Planning Manager and later as Senior Finance Manager. Mr.
Neri will assume his new role as Chief Financial Officer of the
Company effective immediately. About RedEnvelope, Inc. RedEnvelope,
Inc. is a retailer dedicated to inspiring people to celebrate their
relationships through giving. RedEnvelope offers an extensive
collection of imaginative gifts through its webstore,
http://www.redenvelope.com/. "RedEnvelope" is a registered
trademark of RedEnvelope, Inc. This press release contains
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934. The forward-looking statements
contained in this press release include statements which may be
preceded by the words "plan," "will," "expect," "believe," or
similar words. Such statements are based upon current expectations
and involve risks and uncertainties. The Company's actual results
and the timing of events could differ materially from those
anticipated in these forward-looking statements as a result of
several factors. Factors that could affect future performance
include, but are not limited to: any failure to address the
Company's funding requirements and continue as a going concern;
marketing, advertising and customer acquisition programs and
related expenditures may not achieve desired results; cost-control
measures may fail to yield satisfactory results; failure of the
market to accept the Company's new or existing products and
competition relating to such products; planned and ongoing
fulfillment center and system upgrades and enhancements could fail
to achieve desired results or cost savings or could take longer or
incur greater costs than anticipated to implement; difficulties
encountered in, or increased costs of, fulfillment; economic
conditions and changes in consumer spending levels; any significant
disruption of the Company's operations due to network or systems
failures or disruptions, power outages, regulatory actions, natural
disasters or attacks; difficulties encountered in predicting
consumer preferences, managing inventory levels or gaining access
to popular products; increased or more effective competition from
other retailers; difficulties encountered in managing the Company's
growth; increased costs for, or delays or difficulties in the
receipt of, merchandise ordered by the Company; seasonality of the
retail business; increases in shipping, advertising or marketing
costs; intellectual property or other claims that may have an
adverse effect on the Company's financial results product offerings
or technology; difficulties encountered in properly staffing the
Company's operations or providing satisfactory customer service;
changes in government or regulatory requirements affecting
e-commerce that may restrict, or increase the cost of, the
Company's operations; the delisting of the Company's common stock
from the Nasdaq Global Market and other risk factors described in
detail in our Report on Form 10-K for the fiscal year ended April
1, 2007 and Quarterly Report on Form 10-Q for the period ended
December 30, 2007, including, without limitation, those discussed
under the caption, "Risk Factors," which documents are on file with
the Securities and Exchange Commission (the "SEC") and available at
the SEC's website at http://www.sec.gov/. These forward-looking
statements are made only as of the date of this press release, and
RedEnvelope undertakes no obligation to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise. The lack of any update or revision is
not intended to imply continued affirmation of forward-looking
statements contained herein. Investor Contact: Andrew
Greenebaum/Christine Lumpkins ICR, Inc. ; (310) 954-1100
DATASOURCE: RedEnvelope, Inc. CONTACT: Investors, Andrew
Greenebaum, , or Christine Lumpkins, , both of ICR, Inc.,
+1-310-954-1100, for RedEnvelope, Inc. Web site:
http://www.redenvelope.com/
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