Drugstore.com CEO resigns
This article was originally published in The Tan Sheet
Executive Summary
Online retailer's President & CEO Kal Raman steps down to "pursue other opportunities," firm announces June 11. CFO Robert Barton will serve as interim CEO as the firm seeks a successor. During Raman's tenure, the company's annual revenues increased from $145 mil. in 2001 to $246 mil. in 2003; the firm achieved EBITDA profitability in the fourth quarter of 2003. Drugstore.com expects revenues for the second quarter to increase 50% to $85 mil. - $89 mil. with an EBITDA loss of $1.1 mil. to $1.8 mil. due to slow ramp-up of the Vision Direct business...
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Online retailer's President & CEO Kal Raman steps down to "pursue other opportunities," firm announces June 11. CFO Robert Barton will serve as interim CEO as the firm seeks a successor. During Raman's tenure, the company's annual revenues increased from $145 mil. in 2001 to $246 mil. in 2003; the firm achieved EBITDA profitability in the fourth quarter of 2003. Drugstore.com expects revenues for the second quarter to increase 50% to $85 mil. - $89 mil. with an EBITDA loss of $1.1 mil. to $1.8 mil. due to slow ramp-up of the Vision Direct business.... |