Wayfair.com Names Michael Fleisher Chief Financial Officer
BOSTON, Oct. 21, 2013 /PRNewswire/ -- Wayfair.com, the largest online retailer of home furnishings and decor, today announced the appointment of Michael Fleisher as Chief Financial Officer. Fleisher brings significant expertise in public markets, mergers and acquisitions, and guidance on strategic direction and global expansion. His appointment follows a year of record growth for the ecommerce leader with the company growing more than 50 percent to reach a run rate of $1 billion in sales. With Fleisher's appointment, former CFO Nicholas Malone has been named Chief Administrative Officer, continuing to oversee finance, legal, human resources and real estate for the home goods leader, reporting to Fleisher.
"Following an extensive search process, it became very clear that Michael was the ideal person to help lead Wayfair.com through the next steps on our exciting path to becoming the world's leading ecommerce player in the $400 billion home goods market," said Niraj Shah, CEO and co-founder of Wayfair.com. "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."
Prior to joining Wayfair.com, Fleisher served as Warner Music Group's Vice Chairman, Strategy and Operations, where he oversaw the company's global corporate strategy and operations. At WMG, he managed all corporate development and merger and acquisition activity and led the sale of the WMG to Access Industries in a transaction valued at over $3 billion. Fleisher joined WMG in 2005 as its Executive Vice President and Chief Financial Officer where he was responsible for the company's worldwide financial operations and led the company to achieve its highest operating margins. Fleisher played a prominent role in taking the company public in May 2005.
"Wayfair.com is on a stunning growth trajectory toward becoming the dominant global e-commerce player in a major market segment," added Fleisher. "My goal has been to join a company with amazing founders, a world class leadership team, passionate customers and an unbridled growth opportunity. Wayfair.com is that company. I could not be more honored to collaborate with Niraj, Steve, Nick and the entire team to keep building Wayfair.com and delivering for our customers. I am excited to draw from my past experiences and play an integral role in guiding Wayfair.com through its continued growth and evolution."
Before WMG, Fleisher served as Chairman and CEO of Gartner, Inc., the world's leading technology research group where he led the company's initial public offering and its move to the New York Stock Exchange. While at Gartner he completed more than 30 acquisitions and investments and, as head of the Gartner Events organization, developed Gartner Symposium/ITxpo into the world's premier IT strategic planning event.
Fleisher's previous business experience includes roles at Bain Capital and Bain & Company. He holds a bachelor's degree in economics from the Wharton School of Business.
Wayfair.com offers a zillion things home – the largest selection of home furnishings and decor across all styles and price points. With an unparalleled selection of more than seven million home items from 12,000 brands, Wayfair.com helps people find the perfect product at the right price. Our unparalleled selection and superior customer service coupled with the convenience of online shopping, makes it easier than ever before to find exactly what you want for your home. Other e-commerce sites within the Wayfair.com brand portfolio include AllModern.com, the leading destination for original modern design, Joss & Main, the fastest growing private sale site for the home, and DwellStudio, a lifestyle retailer known for groundbreaking design and impeccable quality in modern home furnishings.
Headquartered in Boston, Massachusetts, Wayfair.com employs more than 1,300 people in its eight global locations of Boston; New York; Ogden, Utah; Hebron, Kentucky; Galway, Ireland; London; Berlin and Sydney. The company was recently named one of America's Most Promising Companies by Forbes Magazine.
For more information, please visit www.wayfair.com.