The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
Bob Bellack moves from chief financial officer to CEO.
Electronics e-retailer Newegg Inc. has named Bob Bellack, its current president and chief financial officer, as CEO of Newegg North America. Current CEO S.C. Lee becomes vice chairman. The executive changes take effect immediately, the e-retailer says.
Bellack joined Newegg in August. Previously he held executive management positions at the Los Angeles Times newspaper, including as president of digital media, Newegg says. He also served as co-founder and CEO of Zetabid.com, a now defunct web site that organized auctions of foreclosed homes. Earlier in his career, Bellack co-founded Classified Ventures, the company that created the web-based classified sites Cars.com and Apartments.com.
“Bob is an excellent fit for the CEO role given his proven track record in effectively managing growing businesses,” says Fred Chang, founder, chairman and CEO of Newegg Inc.
Lee was CEO of Newegg North America for less than one year. He joined the company as an executive vice president in 2005 and served as acting president from August 2010 to March 2011.
Newegg Inc. is No 12. in Internet Retailer’s Top 500 Guide.
Another Newegg executive, Lee Cheng, the e-retailer’s vice president of human resources and general counsel, will speak at the Internet Retailer Conference & Exhibition 2012 on June 6 from 1:45 p.m. to 2:30 p.m. during a session entitled “Fighting back against patent suits: What to do and how to do it.”