In its second-largest acquisition, Amazon buys the company for $970 million.
Celebrate Express paid president and CEO Kevin Green $1.1 million in fiscal 2007, his first full year at the helm of the web and direct gift and party supplies retailer.
Celebrate Express Inc. paid CEO Kevin Green $1.1 million in fiscal 2007, his first full year at the helm of the web and direct gift and party supplies retailer. Green’s compensation package included a base salary of $350,000, $476,067 in stock options and another $350,000 in incentives, according to the company’s proxy statement.
Green and three other top executives’ compensation totaled $1.76 million for the year. Green replaced former CEO Mike Tuttle, who left in February 2006, in May 2006.
After Green, Darin White, vice president of finance and corporate secretary received the next highest total compensation at $276,175. White’s package included $193,846 in base salary and $82,050 in stock options and awards and incentives and bonuses.
Lisa Tuttle, vice president of technology, received $183,663 in total compensation, including a $126,00 base salary. Vice president of operations Dennis Everhart’s compensation totaled $128,088 including $96,635 in base salary.
Web sales were up 7.9% to $64.8 million in fiscal 2007, but overall revenue declined by 2% for Celebrate Express, No. 163 in the Internet Retailer Top 500 Guide. For FY 2007 Celebrate Express posted net income of $43,000 on revenue of $85.2 million vs. net income of $405,000 on revenue of $87 million in the prior year. Sales declined by $6.9 million for the company’s Storybook Heirlooms catalog and web site, which Celebrate Express closed in April.