Iparty (AMEX:IPT)
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iParty Corp. (AMEX: IPT
- news), a party goods
retailer that operates 50 iParty retail stores, today announced the
appointment of David E. Robertson to the position of Chief Financial
Officer effective April 2, 2007.
Mr. Robertson, age 57, brings to iParty over twenty years of experience
in the financial management of retail companies. After starting his
career in the audit division of Ernst & Young, he worked in a variety of
accounting, audit and financial capacities at Zayre Corp., Lechmere Inc.
and Kitchen, Etc. Inc., where he served as Vice President and Chief
Financial Officer from 1999 to 2005. Since 2005, Mr. Robertson has been
employed as a private consultant primarily doing Sarbanes-Oxley
compliance testing and analysis of financial controls for both public
and private companies. Mr. Robertson is a CPA, a graduate of Harvard
College, and holds an MS in Professional Accountancy from Northeastern
University.
The hiring of Mr. Robertson as iParty’s new
CFO reflects the fact that iParty’s current
President and CFO, Patrick Farrell, has informed the Company that
personal, family reasons will require him to relocate from the Boston
area to New York during 2007, as previously disclosed in a Form 8-K
filing that iParty made with the SEC on January 8, 2007. Mr. Robertson’s
appointment as iParty’s new CFO at this time
is consistent with the Company’s current
employment agreement with Mr. Farrell and reflects the desire of both
Mr. Robertson and Mr. Farrell to assist iParty in effecting a smooth
transition. Accordingly, in connection with the appointment of Mr.
Robertson, Mr. Farrell has resigned from his position as iParty’s
CFO effective April 2, 2007, but will continue to retain his position
and title as President of iParty. Mr. Farrell’s
employment agreement with iParty will continue to extend through
November 15, 2007, as previously disclosed.
The Company also announced today that it has entered into new three-year
employment agreements with Sal Perisano, its Chief Executive Officer,
and Dorice Dionne, its Senior Vice President, Merchandising & Marketing,
effective April 1, 2007.
About iParty Corp.
Headquartered in Dedham, Massachusetts, iParty Corp. (AMEX: IPT
- news) is a party goods
retailer that operates 50 iParty retail stores and licenses the
operation of an Internet site for party goods and party planning at www.iparty.com.
iParty’s aim is to make throwing a successful
event both stress-free and fun. With over 20,000 party supplies and
costumes and an online party magazine and party-related content, iParty
offers consumers a sophisticated, yet fun and easy-to-use, resource with
an extensive assortment of products to customize any party, including
birthday bashes, Easter get-togethers, graduation parties, summer
barbecues, and, of course, Halloween. iParty aims to offer reliable,
time-tested knowledge of party-perfect trends, and superior customer
service to ensure convenient and comprehensive merchandise selections
for every occasion. Please visit our site at www.iparty.com.
Safe harbor statement under the Private Securities Litigation
Reform Act of 1995: This release contains forward-looking
statements that are based on our current expectations, beliefs, and
assumptions. The statements contained in this release are not guarantees
of future performance and involve certain risks, uncertainties and
assumptions that are difficult to predict. Therefore, actual outcomes
and results may differ materially from what is expressed in such
forward-looking statements, and such statements should not be relied
upon as representing iParty’s expectations or
beliefs as of any date subsequent to the date of this press release. For
a discussion of these and other risks and uncertainties which could
cause actual results to differ from those contained in the
forward-looking statements, see Item 1A, “Risk
Factors” of iParty’s
most recently filed Annual Report on Form 10-K for the fiscal year ended
December 30, 2006.