Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
The executive committee will make a final decision May 3 over firing Gilbert Fiorentino.
The board of directors of Systemax Inc. has scheduled a meeting to further consider firing the retailer’s top e-commerce executive.
The executive committee of Systemax, which owns and operates CompUSA.com, CircuitCity.com, TigerDirect.com and other e-commerce brands and is No. 22 in the Internet Retailer Top Guide, will meet May 3 and give Gilbert Fiorentino, its top e-commerce executive and CEO of its technology products group, and his attorney a chance to discuss the results of a whistleblower investigation of the Systemax Miami operation.
Systemax on Monday notified Fiorentino that the company intends to terminate his employment. Fiorentino has yet to comment on the company’s move for dismissal.
Systemax isn’t saying precisely why it intends to fire Fiorentino other than to say that the company’s audit committee has concluded an independent investigation into the whistleblower allegations. Systemax has placed Fiorentino on administrative leave and named Robert Leeds, the founding CEO of its technology products group, as interim CEO of that business unit. Leeds also serves as the company’s vice chairman.
In a new filing with the U.S. Securities and Exchange Commission, Systemax says it will decide at the May 3 board meeting if it will fire Fiorentino. “The company will make its final determination as to Mr. Fiorentino’s employment,” the filing says.