Wayfair.com taps Michael Fleisher as CFO
Clint Engel -- Furniture Today, October 22, 2013
BOSTON — Home furnishings e-commerce giant Wayfair.com has hired Michael Fleisher as chief financial officer, hinting the move is preparing it for an initial public offering.
He replaces Nicholas Malone, who has been named chief administrative officer, continuing to oversee finance, legal, human resources and real estate, reporting to Fleisher.
"Fleisher brings significant expertise in public markets, mergers and acquisitions, and guidance on strategic direction and global expansion," Wayfair said in a release.
His appointment follows a year of record growth for the company, which said it has grown more than 50% to reach a run rate of $1 billion in sales.
Fleisher previously was vice chairman, strategy and operations for Warner Music Group, where he "played a prominent role in taking the company public in May 2005," officials said.
Earlier, he was with Gartner, a technology research group where he also led the company's IPO, and held roles at Bain Capital and Bain & Co.
Wayfair.com CEO and co-founder Niraj Shah called Fleisher "the ideal person to help lead Wayfair.com through the next steps on our exciting path to becoming the world's leading e-commerce player in the $400 billion home goods market.
"In addition to bringing a strong and seasoned voice to our executive management team, we are confident that Michael's impressive track record and unrivaled expertise in public markets, mergers and acquisitions, and strategy will help us achieve our long term goals."
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