CompUSA, Inc. Release and Briefing; Re: Compton Announces Retirement -- Mondry Appointed CEO.Business Editors/High-Tech Writers DALLAS--(BUSINESS WIRE)--Nov. 26, 2003 CompUSA, Inc. announced today the retirement of Mr. Hal Compton, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Dallas-based business unit. Mr. Compton, who joined CompUSA, Inc. as Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. in August 1994 was elevated to his present role of CEO in March 2000 following the purchase of CompUSA by Grupo Sanborns Grupo Sanborns is a large retail, pharmacy and department store chain located in Mexico. Few Mexican companies are as steeped in history as Sanborn Hermanos, owners of Sanborns pharmacy. . Compton is credited with the technology solution retailer's 1995 turnaround and its resurgence re·sur·gence n. 1. A continuing after interruption; a renewal. 2. A restoration to use, acceptance, activity, or vigor; a revival. following the Grupo Sanborn acquisition. Mr. Compton will formally hand over the leadership of the organization effective December 5, 2003 but will continue to serve the organization by serving in an advisory capacity for Chairman Carlos Slim. Concurrently, CompUSA also announced the promotion and appointment of Mr. Lawrence Mondry to succeed Compton as CompUSA, Inc.'s Chief Executive Officer. Having been with CompUSA since 1990, Mondry, age 43, enjoyed a progressive path on his journey to the top spot. Joining the organization as its youngest officer, Mondry flourished in the position of Sr. VP of Merchandising; he proceeded to make continued and expanded contributions as the organization's EVP EVP Executive Vice President EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor EVP Electronic Voice Phenomenon EVP Europäische Volkspartei (Germany) EVP Employee Value Proposition of Merchandising and since March 2000, as its Chief Operating Officer, driving all of the company's merchandising, marketing, and store operations activity. The CompUSA organization enters a new era under Mr. Mondry as it continues to reshape its market niche. The recognized architect of the company's technology convergence strategy, Mondry has decreed his interest in driving the organization on a course of steady and measured growth through like store sales, acquisition and new business development. Aggressive by nature, Mondry takes the lead of a high energy and seasoned executive team and is challenging the entire enterprise to establish CompUSA, Inc. as the nation's pre-eminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae technology convergence retailer. Mr. Compton will assist Mr. Mondry across a brief transition period. Chairman Carlos Slim, when announcing these sweeping changes, thanked and commended Compton on his contributions and optimistically op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op voiced his support and confidence in Mr. Mondry's ability to take control and lead the new CompUSA, Inc. and its 15,000 team members to heightened success and future growth. |
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