Shop At Home Inc., has elected George R. Ditomassi and Charles W. Bone to its board of directors. Bone and Ditomassi join board chairman J.D. Clinton, and board member Frank A. Woods in the newly created Office of the Chairman.
The office was formed the day after Kent E. Lillie, the president and CEO of the Nashville, TN, company was fired. Shop at Home had posted losses of $13.5 million in fiscal 2000, and $3.3 million in fiscal 1999. Shares of Shop at Home had dropped 75% in the past year, cutting its market value to $63.2 million.
The members of the new office will serve as the company’s transitional executive team. Clinton will lead the group to improve Shop at Home’s profitability, assess strategic opportunities and try to increase shareholder value. The four executives will also comprise a search committee for a new CEO.
Shop at Home is a cable and satellite television company that reaches more than 61 million homes.
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