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Computer peripherals industry

Tiger Direct Announces Delisting from Nasdaq, Names New Interim Chief Operating Officer

Strategic Insights

— 1 min read

Tiger Direct, a leading direct marketer of IBM-compatible and Macintosh hardware and software, has announced that it will be delisted from the Nasdaq Stock Market due to its failure to meet the company's net worth requirement. Despite this setback, the company remains committed to its growth strategy and has appointed Ivan Inerfeld, a seasoned business leader with extensive experience in management, finance, and strategic planning, as its new Interim Chief Operating Officer.

Key Takeaways:

  • Tiger Direct's common stock was delisted from Nasdaq on July 24th and will begin trading on the Over The Counter (OTC) market on July 25th.
  • The company expects to meet the criteria for Nasdaq SmallCap Market reinstatement upon completion of its previously announced transaction with Hanover Direct.
  • Ivan Inerfeld, 54, has been appointed Interim Chief Operating Officer, succeeding John R. Schoemer who served in an interim capacity from March to July 1995.
  • Inerfeld brings extensive experience in direct marketing, publishing, manufacturing, distribution, and business services, including a stint as CEO of Regal Communications Corporation.
  • He has also held senior positions at Coopers & Lybrand and Touche Ross & Co., and served as a Director of Mergers and Acquisitions and the firm's National Director of the Publishing and Cable Industry Practice.
  • Inerfeld will oversee the assimilation and operation of subsidiaries and oversee the company's strategic planning for future growth.
  • Gilbert Fiorentino, Chairman, President and CEO of Tiger Direct, praised Inerfeld's experience and commented that he will serve Tiger well as it prepares for future growth in its dynamic industry.

Statistics:

  • Tiger Direct's stock will be quoted on the Electronic Bulletin Board commencing on July 25th.
  • The company sells a wide range of brand name IBM-compatible and Macintosh hardware, software, and peripherals, as well as CD-ROM hardware and software.
  • Tiger Direct's products are marketed directly to consumers and corporate users through monthly mailings of full color, high information catalogs and a focused outbound telesales effort.

Sources:

  • "Tiger Direct, Inc. Announces Delisting from Nasdaq Stock Market" ( BUSINESS WIRE, July 25, 1995)
  • Tiger Direct, Inc. (Nasdaq: TIGR)

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