– USA, MO – 1847 Goedeker Inc. (NYSE American: GOED), one of the largest specialty eCommerce players in the U.S. household appliances market, today announced the appointments of Selim Bassoul and Alan Shaw to its Board as Independent Directors, effective immediately.
In connection with the new appointments, Paul Froning has agreed to retire from the Board.
“We are pleased to advance our ongoing Board refresh by appointing Selim and Alan, who have impressive track records working at world-class companies. They have the right perspectives, skillsets, and relationships to support our pursuit of pragmatic growth and long-term value. Selim’s stellar background as the chief executive and chairman of The Middleby Corporation will be a great asset to us, particularly as we work to expand our nationwide reach and seize greater market share. Alan, who possesses vast appliances and operational knowledge, will bring equally valuable c-level perspectives and strategic planning know-how to the Board. After assessing the Company’s needs and engaging with a number of stockholders over the past two months, our Board leadership and Nominating and Governance Committee ran a thorough process to identify individuals who can support our goal of becoming the market leader in home appliances.” said CEO, Albert Fouerti.
David Kanen, Kanen’s Founder and Portfolio Manager, said: “We are pleased to have reached an amicable resolution that continues Goedeker’s Board refresh process and adds critical skillsets to the boardroom. We believe a solid foundation exists for the new appointees to work with the Board to execute new strategies as the Company strengthens its appliances industry position and we are hopeful these changes will lead to value creation for all stockholders.”
About Selim Bassoul
Mr. Bassoul possesses significant experience in corporate governance, finance, marketing, strategic transactions, and other critical business areas. He was the CEO and Chairman at The Middleby Corporation (NASDAQ: MIDD) from January 2001 until his retirement in February 2019. He has served as a Director and the Non-Executive Chairman of the Board of Six Flags Entertainment Corporation (NYSE: SIX) since February 2020 and as the Director and the Non-Executive Chairman of the Board of Diversey Holdings, Ltd., a leading provider of hygiene, infection prevention, and cleaning solutions, since February 2020. Mr. Bassoul previously served on the Boards of Directors of several other public and private entities. He holds a B.A. in Business Administration from the American University of Beirut and an MBA in Finance and Marketing from the Kellogg School of Management at Northwestern University.
About Alan Shaw
Mr. Shaw brings expansive appliances industry knowledge and valuable supplier relationships to Goedeker’s Board. He has been a leader in the industry for more than 20 years, beginning his career with Whirlpool and finishing it as the CEO of Electrolux’s North American business, a position he held from January 2016 until his retirement in January 2020. He has held President and c-level positions with several North American-based durable goods companies since 2003, including Char-Broil and Husqvarna Group. He holds a B.S. degree in Economics and Political Science from the University of Idaho and an MBA in Marketing from Indiana University.
About Goedeker
Goedeker is an industry-leading e-commerce destination for appliances, furniture, and home goods. Through its June 2021 acquisition of Appliances Connection, Goedeker created one of the largest pure-play online retailers of household appliances in the United States. With warehouse fulfillment centers in the Northeast and Midwest, as well as showrooms in Brooklyn, New York, and St. Louis, Missouri, Goedeker offers one-stop shopping for national and global brands. We carry many household name-brands, including Bosch, Cafe, Frigidaire Pro, Whirlpool, LG, and Samsung, and also carry many major luxury appliance brands such as Miele, Thermador, La Cornue, Dacor, Ilve, Jenn-Air, and Viking among others. We also sell furniture, fitness equipment, plumbing fixtures, televisions, outdoor appliances, and patio furniture, as well as commercial appliances for builder and business clients.
For more information: https://www.goedekers.com/
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