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-- Veteran Board Members Tim Maudlin and Greg Moore Join Newegg Board of Directors, Will Chair Audit and Compensation Committees, Respectively; They Join Recently Appointed Member Bill Townsend --
CITY OF INDUSTRY, Calif., August 10, 2011 -- Newegg Inc., the largest pure-play technology focused retailer in the United States, is pleased to announce that it has added two independent members to its Board of Directors. Tim Maudlin has assumed the role of Chairman of Newegg’s Audit Committee, and will also be a member of the Compensation Committee. Greg Moore has assumed the role of Chairman of the Compensation Committee, and will also be a member of the Audit Committee. Both will also be members of the Nominating and Governance Committee. These new independent Board Members join Bill Townsend, who became a member of Newegg’s Board of Directors in December of 2010.
SC Lee, Newegg North America’s CEO, noted: “Tim and Greg will be tremendous assets to the Newegg Board. Not only do they bring a wealth of board and executive management experience, but their broad and deep expertise in the ecommerce and retail sectors will provide a fresh perspective. Their guidance and leadership will help lead Newegg to greater success and growth, and our entire management team and I welcome the chance to partner with them.”
Tim Maudlin has over 10 years of experience and extensive expertise as an Audit Committee Chair of NASDAQ listed companies including Web.com Group Inc. and Sucampo Pharmaceuticals Inc. In addition to serving as Audit Committee Chair for ExactTarget, Inc., he also served as Audit Chair for MediaMind Technologies Inc., a NASDAQ listed company prior to its acquisition (for $520 Million) in July 2011, and Fanatics, Inc. prior to its acquisition (for $278 million) by GSI Commerce in February 2011. He has served on a number of public and private company Boards, including special committees. Tim is the former CFO of Venturi Group and served as Audit Manager for Arthur Anderson. Tim possesses a strong web and ecommerce background, and has a Master’s Degree in Management from Northwestern University in addition to his previous experience as a CPA in Minnesota.
Tim Maudlin said, "I am delighted to join the Newegg team. Newegg is one of the most respected retailers in the market today. Together we will effectively augment our already-successful business model to meet the needs of this ever-changing industry."
Greg Moore has over 25 years of management experience in major multi-national companies and extensive international experience in worldwide markets. He is a current Board Member and Chair of the Audit Committees of 3 Day Blinds and Texas Roadhouse, Inc., for the latter of which he also serves as Chair of the Nominating and Corporate Governance Committee and as a member of the Compensation Committee, and the International Committee. Greg was formerly the CAO of Yum! Brands, the holding company for well-known global consumer brands such as KFC and Taco Bell. Greg has solid SEC experience and served as an Audit Manager at Ernst & Young. He graduated from the University of Texas at Austin with a BBA, received his MBA from St. John’s University, and is also a CPA in New York and California.
Greg Moore commented, “It is a great honor to join a company with Newegg’s pedigree. The company's mission of providing quality products at an incredible value is well documented. I am honored to have the opportunity to contribute to that mission. My experience with high-visibility companies is an excellent fit for Newegg."
Bill Townsend is a well-known Internet entrepreneur, having been part of the founding and/or senior management teams at search pioneer Lycos, Inc., USENET search engine Deja.com (now Google and eBay), community website company GeoCities (now Yahoo!), young adult marketing firm YouthStream Media Networks (now Alloy), and social networking pioneer SixDegrees.com (now LinkedIn). He serves on the Board of Starfish Networks, dba YourOffers, a leading personalized marketing and couponing company and Chairman of Amati Foundation, an educational nonprofit. He served as an advisor to ANMSoft, one of India's leading e-commerce platform companies and was formerly Vice President, Online at Product Partners, dba BeachBody; Executive Vice President, Office of the CEO, at Solidus Networks, Inc.; Chief Marketing Officer at CyberOprations; and Managing Director at Interminds, LLC. Bill received his MBA at Baylor University's Hankamer School of Business and his Bachelors degree at The College of Wooster. He was nominated as a TED Fellow in 2011.
Bill Townsend commented, "From my early conversations with Newegg, I could tell this was a unique company. Newegg truly cares about its customers and has one of the most loyal customer bases I have ever seen for an e-commerce firm. The addition of Mr. Maudlin and Mr. Moore to the Board will help Newegg continue to grow and excel."
About Newegg Inc.
Newegg Inc. is the second-largest online-only retailer in the United States. It owns and operates Newegg.com (www.newegg.com) which was founded in 2001 and regularly earns industry-leading customer service ratings. The award-winning website has more than 16 million registered users and offers customers a comprehensive selection of the latest consumer electronics, detailed product descriptions and images, as well as how-to information and customer reviews. Using the site's online tech community, customers have the opportunity to interact with other computer, gaming and consumer electronics enthusiasts. Newegg Inc. is headquartered in City of Industry, California.