Moving Up At Kozmo.com

Kozmo.com, which promises to deliver Internet-ordered goods in less than an hour, has announced today that founder Joseph Park has named CFO Gerry Burdo as president and acting CEO. Park was CEO of the since the company formed in 1997 and will become chairman of the board. Co-founder and President Yong Kang is also stepping down. Kang will be involved with strategic planning for Kozmo.com, but not day-to-day operations. Park, who expanded Kozmo.com to 10 markets, gained 300,000 customers and raised $250 million in capital, said, "now is the ideal time for Kozmo.com to be led by someone equally obsessed with serving our customers and serving the bottom line." Combining Internet shopping with immediate delivery, New York City-based Kozmo.com delivers CDs, DVDs, books, magazine, snacks, drinks and home and beauty essentials, among other items.