Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
As president and chief merchandising officer, Samuel Sato now also oversees the web business.
The Finish Line Inc. has promoted Samuel M. Sato to the job of president, chief merchandising officer. The role includes leading the company’s e-commerce business. Don Courtney, who has run the e-commerce business since August 2009 and will continue in his role as president of e-commerce, now reports to Sato.
Sato was executive vice president, chief merchandising officer at Finish Line. He retains that position’s responsibilities to oversee the company’s merchandising and marketing initiatives. Sato worked for 22 years at Nordstrom Inc., No. 29 in the Internet Retailer Top 500 Guide, prior to joining Finish Line in 2007.
“We are pleased to have Sam extend his success in merchandising and marketing to our e-commerce business where he and Don will continue to drive its growth,” says Glenn Lyon, CEO and chairman of Finish Line.
The company also appointed Steven Schreibman as vice president and chief marketing officer. Schreibman is responsible for all company branding and marketing initiatives and reports to Sato.
Finish Line reported $1.17 billion in revenues for fiscal 2010. Finish Line does not break out web sales but said in its most recent annual report that web operations represent only a minor portion of total sales. It also noted plans to add greater e-commerce expertise, upgrade the web site and expand the company’s presence in social media. According to the company, daily site traffic to FinishLine.com averages 125,000.
Finish Line is No. 166 in Internet Retailer’s Top 500 Guide.