Tile Shop takes on new CFO
Tile Shop has elected a new CFO, who will be joining the company from Best Buy, Inc. and replacing Timothy Clayton, who is leaving to pursue another opportunity.
Kirk Geadelmann, who was most recently serving as the corporate and international controller at Best Buy, will bring 23 years of experience to bear on his new role with Tile Shop. His skillset is specialized for financial and operational responsibilities within the retail industry, specifically in business planning, performance management, financial accounting and SEC reporting. He has also worked for BMC Manufacturing, Arthur Andersen, Allianz Insurance and Coopers & Lybrand.
“Kirk is a respected financial leader, and he will be a strong addition to our executive team,” said Robert Rucker, Tile Shop CEO. “Kirk has deep roots in finance and has a proven track record in the retail industry. In addition, Kirk’s prior experience working directly with our COO and auditors will enable him to quickly assimilate into the Company. We are excited that he has agreed to join The Tile Shop and are confident in his ability to oversee our financial affairs.”
Geadelmann will be transitioning into the role on August 12, 2014, with Clayton remaining on board for a short interim period to help hand over his responsibilities.
Edgenet assets acquired by former executives
Three former executives of Edgenet have acquired the assets of the tech firm that helped companies in the home improvement space and beyond track and organize digital data.
EdgeAQ completed the purchase from Edgenet Inc. on June 16 as part of a Chapter 11 363 sale. The company will continue to do business as Edgenet.
Described as a “cloud-based technology innovator,” Edgenet was the company behind Big Hammer, which it acquired in 2008. Challenges servicing its debt forced the company to declare bankruptcy earlier this year and resulted in the 363 sale.
The new executive team includes CEO Steve Proctor, COO Tim Stafford and CFO Chris Dowdy. All three previously worked for Edgenet during its peak growth from 1999 to 2008.
“Edgenet has great technology, great employees and a strong customer base,” said Proctor. “The 363 sale allowed us to choose performing assets that are best positioned for growth. Edgenet should return to profitability quickly with the right strategic focus and renewed commitment to our customers.”
Proctor and Stafford return to Edgenet from Oracle, where Proctor was recognized as one of its top 1% performers. Dowdy recently served as CFO for customer care operations at Asurion.
Edgenet has 60 employees and offices in Nashville, Tennessee; Milwaukee, Wisconsin; and Atlanta.