In its second-largest acquisition, Amazon buys the company for $970 million.
Michelle Peluso will take over from Kevin Ryan early next year.
Gilt Groupe Inc. has named a new CEO. Michelle Peluso will take over that job at the end of February, replacing Gilt founder and CEO Kevin Ryan, who becomes chairman. Susan Lyne moves to vice chairman from chairman. Lyne and Ryan swapped places in 2010.
Peluso comes from Citigroup Inc., where she was global consumer chief marketing and Internet officer. She had worked for the financial institution since 2009, Gilt says. Before that, she worked as CEO of online travel agency Travelocity, a position she held between 2003 and 2009. She also worked as Travelocity’s chief operating officer and senior vice president of product strategy and distribution. She started at the travel services firm in 2000, Gilt says.
"Michelle's deep Internet experience, coupled with her operating and marketing background, made her my ideal choice to be Gilt's CEO going forward," says Ryan. "We have worked together for three years as fellow board members and I am thrilled she will be leading Gilt to its next level of growth and market leadership.”