Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Webvan Group Inc. today announced the appointment of Robert Swan to the newly created post of chief operating officer. Swan was Webvan's chief financial officer and will continue to hold that post until a replacement is found. "Bob has played a very operational role as CFO for Webvan. I am confident that his solid operating and finance background--at Webvan and across a number of business units at the General Electric Co.--brings the right components of experience and leadership needed to spearhead our focus on profitability, integration, and future growth," said George T. Shaheen, chairman and chief executive officer of Webvan Group. Swan had been CFO since February. He joined Webvan in October 1999 as senior vice president of finance. Webvan plans an external search to fill the finance post. As chief operating officer, Swan will lead Webvan's area operations. He will also oversee the company's marketing, merchandising, customer service, and strategic alliance departments. Webvan also announced the resignation of Mark X. Zaleski, senior vice president of area operations. Mr. Zaleski has accepted a position as the chief operating officer of an Internet company in Europe. Zaleski has been with Webvan since December 1998.