Web-only retailers, including Amazon, accounted for 42% of sales of all retailers ranked in the Read Now
Colon Washburn, who also worked for Walgreens, replaces Caroline Offutt.
Online gadget retailer ThinkGeek Inc. says it has hired Colon Washburn as president and CEO.
Between 1972 and 1993, Washburn worked at Wal-Mart Stores Inc. His jobs included executive vice president and senior vice president of Sam’s Club, the retailer’s warehouse store subsidiary.
Washburn replaces Caroline Offut, who will remain a consultant to ThinkGeek, the retailer says.
“Colon brings a wealth of experience managing growing organizations, honed from his many years at Wal-Mart,” says Ken Langone, Geeknet’s board chairman. “We certainly wish Caroline the best. She has spent the last seven years building ThinkGeek into the great brand that it is today.”
In connection with his hire, Washburn received 78,125 restricted stock units, the retailer says.
ThinkGeek is a subsidiary of Geeknet Inc. and No. 192 in Internet Retailer’s Top 500 Guide. Walmart.com is No. 6 and Walgreen Co. is No. 73.