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EcommerceBytes-NewsFlash, Number 1495 - March 15, 2007 - ISSN 1539-5065    3 of 3

Marketworks Gets New (Old) CEO

By Ina Steiner
March 15, 2007

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Marketworks' CEO Ken Powell has left the company to pursue another opportunity, and CFO Doug Hadaway has taken on the additional responsibility of chief executive. Hadaway had been interim CEO after cofounder and CEO Alec Peters stepped down in 2005.

Hadaway said on Wednesday that Marketworks is well positioned and is in the best financial position in the company's history.

Chief Marketing Officer Paul Lundy said Marketworks has a good product release schedule for 2007. The company is currently in soft launch of a premium store to add to its suite, which includes an existing storefront offering. The premium store is geared toward companies that need a sophisticated, multi-channel solution, and Lundy said it starts to look attractive for merchants making $10,000/month in sales.

Lundy said Powell, who took Marketworks "to some good places," left to pursue an opportunity with some people he had worked with previously, but he has not announced his plans publicly.

Hadaway has been with Marketworks for three years and will keep his CFO duties.


About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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