U.S. Auto Parts Network, Inc. Appoints Two New Independent Directors To Board
CARSON, Calif., Nov. 20, 2013
CARSON, Calif., Nov. 20, 2013 /PRNewswire/ -- U.S. Auto Parts Network, Inc.
(NASDAQ: PRTS), one of the largest online providers of automotive aftermarket
parts and accessories, today announced the election of Barbara Palmer and
Bradley E. Wilson to the company's Board of Directors. The appointment of Ms.
Palmer and Mr. Wilson brings the company's total number of directors to eight
and the total number of independent directors to five, resulting in the
company regaining compliance with the independent director requirements of the
listing standards of The NASDAQ Stock Market.
Ms. Palmer currently serves as President of The Search Agency, Inc., the
largest independent search marketing agency in the country. Before joining The
Search Agency, Ms. Palmer served as a partner in 2 Degrees Ventures, a branded
entertainment agency and as the Senior Vice President Marketing Operations for
Ameriquest Mortgage Company. She has also served as Senior Vice President
Marketing Operations at United Online, Inc., parent company to internet brands
NetZero and Juno. Ms. Palmer holds a B.S. degree from Ithaca College.
Mr. Wilson currently serves as the Chief Marketing Officer for Travelocity,
Inc., where he is responsible for brand strategy, marketing efficiency, and
customer lifecycle management. Before joining Travelocity, Mr. Wilson served
as Senior Vice President of Marketing and Brand Management for Nutrisystem.
Mr. Wilson also served in marketing and customer acquisition for both
Match.com and Blockbuster Online. Mr. Wilson holds a B.S. degree from the
University of Texas and an M.B.A. from the Cox School of Business at Southern
Shane Evangelist, Chief Executive Officer of U.S. Auto Parts, stated, "This is
an exciting time for U.S. Auto Parts as the additions of both Barbara and Brad
to our board add tremendous marketing experience that we can draw upon to
improve our customer acquisition and retention marketing efforts while
building long-term sustainable brands and customer relationships."
About U.S. Auto Parts Network, Inc.
Established in 1995, U.S. Auto Parts is a leading online provider of
automotive aftermarket parts, including body parts, engine parts, performance
parts and accessories. Through the company's network of websites, U.S. Auto
Parts provides individual consumers with a broad selection of competitively
priced products that are mapped by a proprietary product database to product
applications based on vehicle makes, models and years. U.S. Auto Parts'
flagship websites are located at www.autopartswarehouse.com,
www.jcwhitney.com, and www.AutoMD.comand the company's corporate website is
located at www.usautoparts.net.
U.S. Auto Parts is headquartered in Carson, California.
Safe Harbor Statement
This press release contains statements which are based on management's current
expectations, estimates and projections about the company's business and its
industry, as well as certain assumptions made by the company. These statements
are forward looking statements for the purposes of the safe harbor provided by
Section21E of the Securities Exchange Act of 1934, as amended and Section27A
of the Securities Act of 1933, as amended. Words such as "anticipates,"
"could," "expects," "intends," "plans," "potential," "believes," "predicts,"
"projects," "seeks," "estimates," "may," "will," "would," "will likely
continue" and variations of these words or similar expressions are intended to
identify forward-looking statements.These statements include, but are not
limited to, the company's expectations regarding its ability to improve
customer acquisition and retention marketing efforts and build long-term
sustainable brands and customer relationships. We undertake no obligation to
revise or update publicly any forward-looking statements for any reason. These
statements are not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict.Therefore,
our actual results could differ materially and adversely from those expressed
in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not
limited to, the company's ability to integrate and achieve efficiencies of
acquisitions; any economic downturn that could adversely impact retail sales;
marketplace illiquidity; demand for the company's products; increases in
commodity and component pricing that would increase the company's per unit
cost and reduce margins; the competitive and volatile environment in the
company's industry; the company's ability to expand and price its product
offerings, control costs and expenses, and provide superior customer service;
the mix of products sold by the company; the effect and timing of
technological changes and the company's ability to integrate such changes and
maintain, update and expand its infrastructure and improve its unified product
catalog;the company's ability to improve customer satisfaction and retain,
recruit and hire key executives, technical personnel and other employees in
the positions and numbers, with the experience and capabilities, and at the
compensation levels needed to implement the company's business plans both
domestically and internationally; the company's cash needs, including
requirements to amortize debt; regulatory restrictions that could limit the
products sold in a particular market or the cost to produce, store or ship the
company's products; any changes in the search algorithms by leading Internet
search companies; the company's need to assess impairment of intangible assets
and goodwill; the company's ability to comply with Section404 of the
Sarbanes-Oxley Act and maintain an adequate system of internal controls; and
any other factors discussed in the company's filings with the Securities and
Exchange Commission (the "SEC"), including the Risk Factors contained in the
company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which
are available at www.usautoparts.netand the SEC's website at www.sec.gov.You
are urged to consider these factors carefully in evaluating the
forward-looking statements in this release and are cautioned not to place
undue reliance on such forward-looking statements, which are qualified in
their entirety by this cautionary statement.Unless otherwise required by law,
the company expressly disclaims any obligation to update publicly any
forward-looking statements, whether as result of new information, future
events or otherwise.
David Robson, Chief Financial Officer
U.S. Auto Parts Network, Inc.
SOURCE U.S. Auto Parts Network, Inc.
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