Online retailer Buy.com Inc. in Aliso Viejo, Calif., last week announced the resignations of Gregory Hawkins, its chairman and CEO, and Mitch Hill, its chief financial officer. Board member James Roszak, the retired president of the life insurance division of Transamerica Corp. in San Francisco, will serve as interim CEO.
Another board member, Donald Kendall, the retired CEO of PepsiCo Inc. in Purchase, N.Y., was appointed the new chairman of the board. Robert Price, who most recently worked for PairGain Technologies Inc., has been named CFO.
The management shake-up follows a major restructuring announcement made earlier this month, in which Buy.com said it planned to cut its workforce by 10 percent, sharply decrease the number of products it sells and close or sell off all of its international Web sites.