Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Mark Sebba has been the luxury apparel e-retailer’s chief executive since 2003, and the search for a new leader is underway.
Designer apparel e-retailer Net-A-Porter LLC, No. 102 in Internet Retailer’s Top 500 Guide, is hunting for a new chief executive. Mark Sebba, the company’s CEO since 2003, is retiring. His last day as CEO is Thursday, the company says.
Sebba will remain with the e-retailer in a non-executive director capacity and consult on Net-A-Porter’s continued international expansion. The e-retailer currently ships to 170 countries. Besides its flagship site, which sells women’s apparel, the e-retailer also operates MrPorter.com, which sells designer men’s apparel, and TheOutnet.com, offering discounted designer goods.
Net-A-Porter generated an Internet Retailer-estimated $307 million in online sales in North America last year. Net-A-Porter is owned by French luxury goods maker Compagnie Financière Richemont SA, which in 2010 acquired the e-retailer for 350 million British pounds ($534.48 million in 2010 dollars). Compagnie Financière Richemont SA is No. 38 in the Europe 500.