Company Veteran to Expand Role and Succeed Cayce Roy Following his
Departure; Kathy Domino Appointed as new Chief Accounting Officer
WASHINGTON--(BUSINESS WIRE)--Jan. 31, 2014--
Liquidity Services, Inc. (NASDAQ:LQDT), a global solutions provider in
the reverse supply chain with leading online marketplaces for surplus
assets, announced today the following senior leadership changes
which are effective as of February 10, 2014:
Jim Rallo Promoted to President Retail Supply Chain Group
Building on his nine years of experience as a member of Liquidity
Services’ executive leadership team, Jim Rallo will be promoted to
President of Liquidity Services’ Retail Supply Chain Group and will be
responsible for the company’s strategy, operations and service delivery
to client organizations and buying customers in the retail supply chain
sector. Mr. Rallo joined Liquidity Services in February 2005 as CFO and
Treasurer and has played an instrumental role in the company’s growth
from a closely held private company to a global market leader with
nearly $1 Billion in annual gross merchandise volume, over 1,300
employees and operations in 17 countries. Mr. Rallo succeeds Cayce Roy
who has resigned his position effective February 7, 2014 to pursue other
opportunities. While Mr. Rallo will retain the CFO role, his day-to-day
responsibilities will be delegated to Ms. Kathy Domino in her new role
summarized below.
Kathy Domino Promoted to Chief Accounting Officer
An eight year veteran of Liquidity Services, Kathy Domino will be
promoted to Chief Accounting Officer and will oversee the company’s
accounting, financial reporting and treasury operations. Ms. Domino
joined Liquidity Services in 2006 and has served as our Vice-President &
Corporate Controller during which time Liquidity Services has completed
a successful IPO, follow-on equity offering and six material
acquisitions while expanding the scope of its financial operations to 17
countries. Ms. Domino holds a bachelor’s degree in accounting and
business administration from the University of Maryland and is a
licensed certified public accountant.
“I want to congratulate Jim and Kathy on their new roles and also thank
Cayce for his five years leading our Retail Supply Chain Group-- we
thank him for his contributions and wish him well in his future
endeavors,” said Mr. Angrick.
“Jim Rallo is a high quality leader who is very knowledgeable about our
markets, operations and growth opportunities. As a longstanding member
of our leadership team, Jim has had extensive involvement in the
development of our strategy and understands that building successful
businesses requires teamwork, constant learning and a strong work ethic.
Jim is highly respected within our team and client organizations and
brings the right mix of financial expertise, business acumen, and
leadership to this new role which will ensure a smooth transition,”
continued Mr. Angrick.
“I am also very excited for Kathy in her new role as Chief Accounting
Officer. Kathy is very familiar with our business model, leadership team
and financial operations and brings over 20 years of accounting,
financial reporting, and operations experience to her new role. We look
forward to working with both Jim and Kathy in their new roles to support
our continued growth and market leadership,” stated Mr. Angrick.
About Liquidity Services, Inc.
Liquidity Services, Inc. (NASDAQ: LQDT) provides leading corporations,
public sector agencies, and buying customers the world's most
transparent, innovative, and effective online marketplaces and
integrated services for surplus assets. On behalf of its clients,
Liquidity Services has completed the sale of over $4.3 billion of
surplus, returned, and end-of-life assets in over 500 product
categories, including consumer goods, capital assets, and industrial
equipment. The company is based in Washington, D.C. and has
approximately 1,300 employees. Additional information can be found at: http://www.liquidityservices.com.
Source: Liquidity Services, Inc.
Liquidity Services, Inc.
Julie Davis, 202-558-6234
Sr.
Director Investor Relations
julie.davis@liquidityservices.com
