Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
To help manage growth that boosted Q1 sales 18%, Drugstore.com has named four executives to fill the positions of chief technology officer, chief information officer, vice president of strategy and vice president of pharmacy, the retailer said.
To help manage growth that boosted first-quarter sales 18%, Drugstore.com has named four executives to fill top positions in strategy, information, technology and pharmacy, chairman and CEO Dawn Lepore said.
Coinciding with a new advertising campaign, Drugstore named Jonathan Tinter as vice president of business strategy, Talat Sadiq as CIO, John Helm as CTO, and Matthew Stepka as vice president of pharmacy. “We believe that these talented organizational additions and investments in marketing and technology position us to execute on our growth plan," Lepore said.
Tinter will oversee strategic functions including acquisitions, partnerships, competitive research, and long-term business planning. He is a former vice president of e-commerce for Cingular Wireless and vice president of marketing for AT&T; Wireless, which Cingular acquired last year. Prior to AT&T;, Tinter was a principal at Mercer Management Consulting.
Stepka, who replaces Jeff Kimmell as vice president of pharmacy, will oversee the pharmacy web store and be responsible for expanding Drugstore’s network of third-party relationships. He is a former COO and vice president of marketing at WorldRes Inc, an online hotel reservation network. Prior to WorldRes, he was a management consultant at McKinsey and Co. Inc., where he worked on e-commerce and other technology projects.
Sadiq, the CIO, will oversee all aspects of technology planning, development and operations. He has 20 years of experience in managing and developing IT systems for companies including Citicorp, NextCard and Sun Microsystems Inc. Most recently, he served as vice president of business development at iSpheres Corp. He had earlier served as CIO of NextCard.
Helm, who as CTO reports to Sadiq, will be responsible for Drugstore’s overall technology architecture and daily technology operations. He most recently served as a founding partner of software company Umaxon. He had earlier held senior management positions at Merrill Lynch and served on the faculty of the department of applied physics at Columbia University. Helm has also served as a Fellow at the National Academy of Engineering and managed databases at the American Health Foundation.
Drugstore’s net sales rose 18% year-over-year to $99.6 million for the quarter ended April 3.