In its second-largest acquisition, Amazon buys the company for $970 million.
Melinda French Gates, co-chair of the Bill and Melinda Gates Foundation, has resigned from the Drugstore.com board of directors. Replacing Gates is Jeffrey Killeen, chairman and CEO of GlobalSpec Inc.
Drugstore.com has made two changes to its board of directors. Melinda French Gates, co-chair of the Bill and Melinda Gates Foundation and wife of Microsoft Corp. founder Bill Gates, has resigned from the Drugstore.com board of directors. Gates, who has been on the Drugstore.com board since the company went public in 1999, resigned to spend more time on the work of the Bill & Melinda Gates Foundation.
"We have appreciated Melinda`s long service to Drugstore.com and will miss her," said Drugstore chairman and CEO Dawn Lepore. Replacing Gates on the board of directors is Jeffrey Killeen, chairman and CEO of GlobalSpec Inc. Killeen has more than 25 years of executive management experience in the media, Internet and information services industries. He also serves on the board of SkyTerra Corp. Before joining GlobalSpec in 2002, Killeen was CEO of Forbes.com and led the development of Forbes` portfolio of online financial information and electronic publishing businesses. Before Forbes.com he was chief operating officer of BarnesandNoble.com. He has also held executive-level positions with SBC/Pacific Bell and Dun & Bradstreet.
"We are delighted that Jeff has accepted our invitation to join the board and believe that Jeff`s deep knowledge of online business and technology will play an important role in Drugstore.com`s success," said Lepore.
Other board members of Drugstore.com, No. 32 in the Internet Retailer Top 500 Guide to Retail Web Sites , include Lepore; Dan Levitan, co-founder and managing partner of Maveron LLC; G. Charles "Cayce" Roy 3rd, vice president of Amazon.com Inc.; William Savoy, former president of Vulcan Inc.; and Gregory Stanger, executive in residence of Technology Crossover Ventures.