Buy.com chief executive officer Gregory Hawkins and Mitch Hill, the company's chief financial officer, resigned from the online retail company, which has seen its stock price plummet in the past year.
James Roszak, who has served as a company board member and is the retired president of the life insurance division of Transamerica, will step in as the company's interim chief executive officer, the company said in a statement. Also, Donald Kendall, a board member and emeritus chairman and retired chief executive officer of PepsiCo, was appointed the new chairman of the board.
The company has hired Robert Price as its new chief financial officer. Price comes to Buy.com from PairGain Technologies. It is crucial for the company to drive towards profitability, Roszak said in a statement. The company has proven it can attract customers and sell product, now Buy.com needs to prove it can make money, he said.