Wine.com looks for a new CEO
Wine.com is looking for a new chief executive officer. In August, George Garrick, president and CEO of Wine.com since May 2004, left after a disagreement with the company’s major private investors over future corporate development and direction, says chief financial officer John Belchers.
The company’s major stakeholder is Baker Capital, a New York City investment banking firm, which in September 2004 helped Wine.com secure $20 million in financing for web site improvements and other business development initiatives.
Belchers isn’t discussing any specific details about Garrick’s departure, but Wine.com is conducting a search for a new CEO. While the search is underway, executive decisions are being made by an interim management committee put in place by Wine.com’s investors, he says.
Wine.com is also busy preparing for the holiday shopping season and should post a year-over-year sales increase of between 30% and 40%, Belchers says. Wine.com is No. 146 in the Internet Retailer Top 400 Guide to Retail Web Sites.
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