In its second-largest acquisition, Amazon buys the company for $970 million.
Chief financial officer Tom Donnelly takes over the job for the e-commerce technology provider.
Digital River Inc. this week named a new president. The company, which operates e-commerce sites primarily for software makers and other sellers of digital goods, appointed Tom Donnelly to the post. He was the company’s chief financial officer.
“Tom’s contributions have been integral to Digital River’s performance over the past six years,” says CEO Joel Ronning. “Tom is an exceptional leader with deep knowledge of our business and solid relationships with our clients, employees and shareholders. His appointment to president is part of a natural progression and important step in our plan to accelerate growth, drive quality and expand our global footprint.”
Digital River hired Donnelly in 2005 as treasurer and vice president of finance. He was promoted to chief financial officer four months after his hiring. He will continue to hold that job until the company names a new chief financial officer. Prior to Digital River, Donnelly worked as chief financial officer and chief operating officer of Net Perceptions Inc., an online marketing firm.
“Digital River has established itself as a leader in global e-commerce with a strong history of growth and world-class portfolio of clients across multiple markets,” Donnelly says. “I am looking forward to playing an even larger role in working with our clients and expanding our business on a worldwide basis.”