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PFSweb Announces Leadership Changes

  PFSweb Announces Leadership Changes

Business Wire

ALLEN, Texas -- March 27, 2013

PFSweb, Inc. (Nasdaq: PFSW), an international provider of end-to-end eCommerce
solutions, announced today that the Board of Directors has appointed Michael
C. Willoughby as Chief Executive Officer and to the Board of Directors,
effective March 26, 2013. In addition, it announced that lead director James
F. Reilly has been named Chairman of the Board, also effective March 26, 2013.

The appointments of Messrs. Willoughby and Reilly follow the announcement by
the Company that current Chairman and Chief Executive Officer, Mark Layton,
will be leaving the Company to pursue other business opportunities. Mr. Layton
will remain with PFSweb until April 30, 2013 to ensure a smooth transition.
The Board determined to separate the roles of CEO and Chairman at this time in
order to allow the CEO to focus more completely on increasing operating
efficiency.

“We appreciate Mark’s service to the Company, and wish him well as he looks to
pursue other opportunities,” said Mr. Reilly. “We want to take this
opportunity to honor Mark’s role as the founder of PFSweb and acknowledge his
leadership in transforming PFSweb into a leading provider of end-to-end
eCommerce solutions.”

“The Board of Directors, after careful consideration, has decided that Mike
has the combination of skills and professional management experience necessary
to lead PFSweb forward. Since joining the Company in 1999, Mike has proven
himself to be an invaluable asset. He brings to the role a tremendous amount
of knowledge and experience in eCommerce technology and services, as well as
an appreciation for the key growth opportunities in the industry,” said Mr.
Reilly.

“I am honored to have been chosen by our Board of Directors as PFSweb’s new
CEO, and look forward to focusing my talent and energies towards creating
value for our shareholders,” stated Mr. Willoughby. “The demand for eCommerce
services continues to grow every year as more consumers shop online. I firmly
believe that PFSweb has established a leading position in the eCommerce
industry and our growth opportunities are strong. As we continue to roll-out
our omni-channel iCommerce initiative, we will leverage our strategic
alliances with companies, such as Demandware, Shopatron, IBM and ExactTarget,
together with our own PFSweb technology and service expertise and more than 75
client programs for the world’s leading brands to seek to accelerate revenue
growth, drive operating efficiencies and profitability. As the new CEO, I have
the benefit of an amazing team, a world-class solution and an outstanding
client portfolio. I look forward to building on this solid foundation as our
team works to unlock the true value and potential of PFSweb for our
shareholders.”

Background on Michael Willoughby

Mr. Willoughby has served as President of PFSweb, Inc. since September 2010
and Chief Information Officer of the Company since October 2001.

Mr. Willoughby has previously served as President of Priority Fulfillment
Services, a subsidiary of the Company, from February 2006 to September 2010.
From 1999 to 2001, Mr. Willoughby served the Company as Vice President of
eCommerce.

Prior to joining PFSweb, Mr. Willoughby served as President and Chief
Executive Officer of Design Technologies, Inc., an eCommerce software
development firm from 1994 to 1999. Prior to founding Design Technologies,
Inc., Mr. Willoughby served as President and Chief Executive Officer of
Integration Services, Inc., an IT consulting services company.

Background on James Reilly

Mr. Reilly has served as a non-employee Director of the Company since its
inception in 1999 and as Lead Director since June 2010. Mr. Reilly has been an
investment banker since 1983 and is currently the Managing Partner of
Stonepine Advisors, LLC, an investment banking firm focused on high growth
technology companies.

Until June 2010, he was a Senior Advisor to Needham & Company, LLC, a
nationally recognized investment banking and asset management firm focused
primarily on serving emerging growth industries and their investors. He served
in various capacities with Needham & Company, LLC, since January 2004,
including Head of West Coast Investment Banking.

Mr. Reilly is also a Director of Equalis, LLC, a privately held provider of
commercial support services for open source math software.

About PFSweb, Inc.

PFSweb is engaged by iconic brands to enable and manage customized eCommerce
and omni-channel commerce initiatives. PFSweb’s iCommerce Hub(SM) technology
ecosystem offers retailers a multi-channel order management system that allows
partner/client data integration and international payment processing. PFSweb’s
iCommerce Professional Service(SM) provides interactive marketing services,
eCommerce web site development and support services, IT development services,
content management, customer intelligence and relationship and account
management services. PFSweb’s iCommerce Centers of Excellence(SM) provides
global fulfillment and logistics, high-touch customer care, client financial
services and technology hosting. Together, PFSweb’s iCommerce Solutions allows
for international reach and expertise in both direct-to-consumer and
business-to-business initiatives. PFSweb supports organizations across
multiple industries including Procter & Gamble, L’Oreal, LEGO, Columbia
Sportswear, Sorel, Carter’s, AAFES, Riverbed, Ricoh, Hawker Beechcraft Corp,
Roots Canada Ltd., Diageo, BCBGMAXAZRIA, BCBGENERATION and HERVÉ LÉGER BY MAX
AZRIA. PFSweb is headquartered in Allen, TX with additional locations in
Tennessee, Mississippi, Canada, Belgium, and the Philippines. To find out more
about PFSweb (NASDAQ: PFSW), visit the company’s website at
http://www.PFSweb.com.

The matters discussed herein consist of forward-looking information under the
Private Securities Litigation Reform Act of 1995 and is subject to and
involves risks and uncertainties, which could cause actual results to differ
materially from the forward-looking information. PFSweb's Annual Report on
Form 10-K for the year ended December 31, 2011 and Quarterly Report on Form
10-Q for the three and nine months ended September 30, 2012 identify certain
factors that could cause actual results to differ materially from those
projected in any forward looking statements made and investors are advised to
review the Annual and Quarterly Reports and the Risk Factors described
therein. PFSweb undertakes no obligation to update publicly any
forward-looking statement for any reason, even if new information becomes
available or other events occur in the future. There may be additional risks
that we do not currently view as material or that are not presently known.

Contact:

PFSweb:
Mike Willoughby
Chief Executive Officer
or
Thomas J. Madden
Chief Financial Officer
972-881-2900
or
KCSA Strategic Communications
Investor Relations
Todd Fromer / Garth Russell
212-896-1215 / 212-896-1250
tfromer@kcsa.com / grussell@kcsa.com
 
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