PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Don’t worry—Nielsen and Cast have experience doing this.
Hayneedle Inc., which operates more than 200 specialized e-commerce sites, said this week that its two top executives have switched jobs. Doug Nielsen, the company’s chairman, will take over as president and CEO. Carter Cast will move from that job to the chairman post.
The moves come with a dose of déjà vu. Nielsen in 2002 co-founded NetShops, the company that would become Hayneedle. He steps back into a job he held from February of that year until October 2007, when Cast joined the retailer as CEO. Cast had previously served as president and CEO of Walmart.com. Upon Cast’s arrival at Hayneedle, Nielsen took over the chairman job.
"Carter has worked tirelessly for the past three years to strengthen and grow our organization, leading us through an incredibly successful evolution from NetShops to Hayneedle," Nielsen says. "Carter has moved to the chairman position in order to concentrate on expanding strategic opportunities for the Hayneedle brand and to drive the long-term strategy for our business. I look forward to doing what I think I do best—pouring my heart and soul into day-to-day operations as we continue to redefine how consumers shop for home furnishings and deliver a superior customer experience."
Prior to working at Walmart.com, No. 6 in the Internet Retailer Top 500 Guide, Cast worked at online jewelry retailer Blue Nile Inc., No. 58, as a member of the start-up team, says Hayneedle, No. 69 .
"The past three years have been extraordinarily satisfying and I'm confident this exchange of roles with Doug will position Hayneedle for continued growth and success," Cast says. "Doug and I, supported by the talent and dedication of our entire team, share a clear vision and significant aspirations for the company."