uBid CEO to step down at end of year

[Kristijntje]

uBid CEO Robert H. Tomlinson, Jr., will not be renewing his employment agreement that terminates on December 29, 2007, he told the Board of Directors on March 26, 2007. Tomlinson will remain in his current position until a new CEO for the online auction site has been selected, at which time he will serve uBid in an advisory role during the transition through December 31, 2007. He plans to move from Chicago back to New Jersey where his family still resides and from where he had been commuting for the past 5 years...

full article: http://www.auctionbytes.com/cab/abn/y07/m04/i04/s02

[mandy]

Update:

uBid.com Holdings, Inc. (OTCBB:UBHI), whose uBid, Inc.
subsidiary is one of the leading business-to-consumer and business-to-business online
marketplaces in the U.S., announced today that Jeffrey D. Hoffman, accomplished entrepreneur
and innovator in the fields of on-line auction and retail, software, and entertainment has been
named its Chief Executive Officer. Hoffman will also join uBid.com's Board of Directors. Hoffman
will succeed Robert H. Tomlinson, Jr., current CEO, who informed the Board on March 26 of his
intention to step down by the end of 2007.

Hoffman is a proven entrepreneurial executive in the e-commerce space who has founded and
managed several businesses, and has held key leadership roles in the launch and subsequent
growth of a number of online ventures, the most notable being Priceline.com (Nasdaq: PCLN).
His experience in successfully building new e-commerce businesses as well as repositioning
existing businesses will enable him to help find uBid’s “sweet spot” for growth and profitability.

full press release: http://www.ubid.com/about/New_Ubid_CEO_Final.pdf

[mandy]

A related article on Ubid's new CEO:

Jeffrey Hoffman has watched his businesses sizzle and fizzle through his many years as an entrepreneur and employee.

He’s looking to score a win in his new role as CEO of Ubid.com Holdings Inc., an online auction firm that helps manufacturers and retailers including Hewlett-Packard and Dell Inc. sell excess inventory to the highest bidder. The decade-old Ubid.com has yet to turn a profit.

“We’re roughly at about break-even,” said Mr. Hoffman, 46, who took the job on Sept. 25. “It is my job to take this company to profitability.”

He’s fairly confident about achieving his task, and to understand why is to know the following six things about him...

full article: http://www.chicagobusiness.com/cgi-bin/news.pl?id=26852