Tuesday, online retailer of auto-parts and accessories, U.S. Auto Parts Network, Inc. (PRTS) stated that Theodore Sanders had been appointed as Chief Financial Officer or CFO effective February 16, 2009.
Sanders joined Carson, California-based U.S. Auto Parts Network after most recently serving as CFO of ViewSonic Corp. The company noted that Sanders brings over 25 years of diversified financial and operational management experience in both public and privately held companies and "Big Four" public accounting to US Auto Parts.
Prior to joining ViewSonic Corp., from 1997 to 2007, Sanders, a Certified Public Accountant, also served as CFO of public company PC Mall, Inc., a marketer of technology products with over $1.2 billion in revenue in 2007, where he helped the company grow organically and through acquisition to offer over 125,000 different products to over ten million customers.
Sanders, who started his career at Deloitte & Touche LLP, successfully off-shored and managed certain sales and back-office functions to Canada and the Philippines.
Prior to PC Mall, Sanders was the controller and Director of Finance for BAX Global, a $1.7 billion subsidiary of The Pittston Company, a global business and security services company. At Pittston, he also served as the Director of Internal Audit.
Shane Evangelist, CEO of U.S. Auto Parts Network stated, "Ted's background is a perfect complement to U.S. Auto Parts. He comes from an organization where he optimized a complex, multi-national e-commerce business model - like ours - and he maximized that model within a low-margin industry. I am confident he will excel at coordinating the constantly moving cost thresholds and logistics of drop-ship and stock-ship distribution as he has previously, as well as the variable cost model of off-shore provision of services. Ted will be a great asset to U.S. Auto Parts and we are pleased to have him on the ground."
On his new position, Sanders said that he is very excited to join an innovative company like U.S. Auto Parts at a time when the market is poised to take advantage of the company's products and services.
U.S. Auto Parts Network is currently trading at $1.27, up $0.12 or 10.43% on a volume of 75,649 shares on the Nasdaq.
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