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Systemax Names Sprosty As Fiorentino's Successor

10/04/2011 12:42:53 PM Eastern

Port Washington, N.Y. - Systemax has named former Best Buy
executive David Sprosty as chief executive of its North American Technology
Products Group, effective immediately.

The position, which oversees the company's CompUSA,
TigerDirect and CircuitCity.com retail businesses, had been held on an interim
basis by vice chairman Robert Leeds following the dismissal of Gilbert
Fiorentino
last spring for improprieties.

Sprosty joins Systemax from The ROIG Group, a management consultancy
specializing in CE retail, product development, services and mobility, where he
served as managing partner. Prior to that, he spent 11 years at Best Buy where
he held various management positions including CEO of the retailer's successful
Best Buy Mobile joint venture; senior VP of emerging devices; senior VP and
chief operating officer of customer centricity; and senior VP of the
computing/peripheral/digital business group.

Prior to Best Buy he was CEO of Pacific Mobile and Wireless
(dba MobilWorks).

 In a statement,
Systemax chairman Richard Leeds said Sprotsy "brings extensive and valuable
experience in the retail and consumer electronics industry to our executive
management team. He is a customer-centric and visionary business leader, with
experience in strategic planning, operational execution and business
development. He has a proven track record of success in delivering sustainable
revenue growth throughout his career and in his 11 years at Best Buy was
instrumental in the development of that retailer's connected devices business
lines.

"Under David's leadership we believe the technology group
will continue to execute on its current initiatives and grow into an even
stronger contender within the consumer and business-to-business electronics
sectors."

Systemax never specified Fiorentino's offenses, but said
they occurred over a number of years and were limited to his Miami-based operations,
which are now being investigated by the Securities and Exchange Commission
(SEC). He resigned in May after surrendering about $11 million in assets
including cash and common stock.