1847 Goedeker Inc. Appoints Jim Schneider to Board of Directors
18 Janeiro 2022 - 10:30AM
Business Wire
Highly-Qualified Corporate Leader Brings
Decades of Accounting, Capital Markets, Finance and Strategic
Planning Experience to the Company’s Board
1847 Goedeker Inc. (NYSE American: GOED) (“Goedeker” or the
“Company”), one of the largest specialty ecommerce players in the
U.S. household appliances market, today announced that it has
appointed Jim Schneider to its Board of Directors (the “Board”),
effective immediately. Mr. Schneider’s appointment, which is an
output of the Company’s ongoing Board refresh, reflects feedback
and input from an array of stockholders. He fills the Board vacancy
created when Selim Bassoul, who is now Chief Executive Officer of
Six Flags Entertainment Corporation, stepped down as a director due
to emerging obligations.
Albert Fouerti, Chief Executive Officer and Director,
commented:
"Our Board is very pleased to advance its ongoing director
refresh process by appointing Jim, who brings decades of experience
in accounting, capital markets, finance and strategic initiatives
and transactions. His background as a Big Four accounting firm
partner and chief financial officer will add immediate value to the
business as management continues optimizing the capital structure
and pursuing long-term growth. He is the ideal addition to the
Board at this important point in the Company’s lifecycle.”
Jim Schneider Biography
Mr. Schneider possesses a vast background in capital allocation,
corporate finance and strategic planning. He has served as the
Chairman of Horizon Bank in Austin, TX since 2006 and as an
Operating Partner of Lead Edge Capital, a private equity firm,
since 2010. Mr. Schneider joined Dell in 1996 and served for 11
years as a Senior Vice President of Finance and then also as Chief
Financial Officer. He previously was a Senior Vice President at
MCI. Mr. Schneider began his career as an accountant at Price
Waterhouse, where he served as a Partner and worked for 19 years.
He holds a B.S. degree in Accounting from Carroll University. We
believe Mr. Schneider is qualified to serve on our Board due to his
extensive finance experience, his prior CFO experience at a public
company and his background in accounting.
ABOUT GOEDEKER
Goedeker is a content-driven and technology-enabled shopping
destination for appliances, furniture and home goods. Since its
acquisition of Appliances Connection, Goedeker has evolved into a
growth-oriented ecommerce platform with a distinct offering of
core, premium, luxury and private label brands that can be accessed
through a seamless point-and-click experience. The company's
priorities include offering unmatched selection, high-touch product
expertise and reliable shipping from its expanding, nationwide
fulfillment network. With more than $500 million in projected
annual sales in 2021, Goedeker is one of the fastest-growing
pureplay ecommerce companies in home appliances. Learn more at
www.Goedekers.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements.
Forward-looking statements include, without limitation, any
statement that predicts, forecasts, indicates or implies future
results, performance, liquidity levels or achievements, and may
contain the words “believe,” “anticipate,” “expect,” “estimate,”
“intend,” “project,” “plan,” “will be,” “will likely continue,”
“will likely result” or words or phrases of similar meaning.
Forward-looking statements in this press release are based on
estimates and assumptions made by our management that, although
believed by us to be reasonable, are inherently uncertain.
Forward-looking statements involve risks and uncertainties that may
cause our business, strategy, or actual results to differ
materially from the forward-looking statements. These risks and
uncertainties include those discussed in greater detail in our
filings with the Securities and Exchange Commission. We operate in
a changing environment in which new risks can emerge from time to
time. It is not possible for management to predict all of these
risks, nor can it assess the extent to which any factor, or a
combination of factors, may cause our business, strategy, or actual
results to differ materially from those contained in
forward-looking statements. Factors that may cause these difference
include, among other things: pricing and product cost variability;
volumes of product sold; changes in the prices, supply, and/or
demand for products that we distribute; the cyclical nature of the
industry in which we operate; housing market conditions; the
COVID-19 pandemic and other contagious illness outbreaks and their
potential effects on our industry; effective inventory management
relative to our sales volume or the prices of the products we
produce; information technology security risks and business
interruption risks; increases in petroleum prices; consolidation
among competitors, suppliers, and customers; disintermediation
risk; loss of products or key suppliers and manufacturers; our
dependence on international suppliers and manufacturers for certain
products; business disruptions; exposure to product liability and
other claims and legal proceedings related to our business and the
products we distribute; natural disasters, catastrophes, fire, or
other unexpected events; successful implementation of our strategy;
wage increases or work stoppages by our union employees; costs
imposed by federal, state, local, and other regulations; compliance
costs associated with federal, state, and local environmental
protection laws; our level of indebtedness and our ability to incur
additional debt to fund future needs; the risk that our cash flows
and capital resources may be insufficient to service our existing
or future indebtedness; the covenants of the instruments governing
our indebtedness limiting the discretion of our management in
operating our business; the fact that we lease many of our
distribution centers, and we would still be obligated under these
leases even if we close a leased distribution center; changes in
our product mix; shareholder activism; potential acquisitions and
the integration and completion of such acquisitions; the
possibility that the value of our deferred tax assets could become
impaired; changes in our expected annual effective tax rate could
be volatile; the costs and liabilities related to our participation
in multi-employer pension plans could increase; the possibility
that we could be the subject of securities class action litigation
due to stock price volatility; and changes in, or interpretation
of, accounting principles.
Given these risks and uncertainties, we caution you not to place
undue reliance on forward-looking statements. We expressly disclaim
any obligation to update or revise any forward-looking statement as
a result of new information, future events or otherwise, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220118005524/en/
Goedeker Investor Relations Greg Marose / Ashley Areopagita
ir@goedekers.com
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