Ashford.com Names New CEO

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David Gow has been named CEO of online jeweler Ashford.com.


He will replace Kenny Kurtzman, who has been named vice chairman of the board of directors.


Gow has served as the Web firm's chief financial officer since March 1999 and also has headed the company's corporate gifts sales division.


Ashford.com, Houston, also released preliminary financial information for its fourth fiscal quarter, which ended March 31. The retailer generated $14 million to $14.5 million in revenue while spending $12 million to $12.5 million on operational costs.


The announcement this week came after the firm was notified by the Nasdaq that it has until July 9 to raise its stock price above $1 in order to avoid a delisting hearing by the stock exchange.


The firm's price has been less than $1 since mid-February. The stock closed yesterday at 52 cents per share. Ashford.com is considering buying back some of its stock to give investors confidence. The company also may offer a reverse stock-split option, which is sometimes used when a business has viable operating prospects but a stock price so low that investors question the firm's viability.


Ashford.com handles its own fulfillment from a warehouse and call center it operates near its Houston headquarters. The firm's average order size exceeds $400, said Ellen Brooks, investor relations director.


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