By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Port Washington, N.Y. — David Sprosty will step down as chief executive of Systemax’s North American retail business, effective March 1.
Sprosty, who succeeded the ousted Gilbert Fiorentino in October 2011, will assist in the transition and return to his consulting career, which will include special projects for Systemax.
His duties will be assumed by Systemax vice chairman Robert Leeds, founding CEO of the company’s Technology Products retail group, who similarly took charge following Fiorentino’s departure. He will work closely with his brothers, chairman/CEO Richard Leeds and vice chairman Bruce Leeds, “in driving the growth strategy and operational initiatives of this business,” Systemax said.
In a statement, chairman Leeds thanked Sprostyfor his contributions and said the management team is “moving forward focused on addressing our challenges in this business and strengthening our competitive position.”
Systemax’s consumer segment sales fell 19 percent to $320 million during its fiscal third quarter, ended Sept. 30, 2012, its most recent reporting period. The company also announced plans to exit the computer manufacturing business.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.