{"id":26171,"date":"2014-06-18T08:57:41","date_gmt":"2014-06-18T12:57:41","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=26171"},"modified":"2014-06-18T08:57:41","modified_gmt":"2014-06-18T12:57:41","slug":"lightinthebox-holding-co-ltd-adr-nyselitbs-president-and-senior-vp-to-leave-by-the-end-of-2014","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/lightinthebox-holding-co-ltd-adr-nyselitbs-president-and-senior-vp-to-leave-by-the-end-of-2014-26171","title":{"rendered":"Lightinthebox Holding Co Ltd-ADR (NYSE:LITB)\u2019s President And Senior VP To Leave By The End Of 2014"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 06\/18\/2014 (wallstreetpr) \u2013<b> Lightinthebox Holding Co Ltd-ADR (NYSE:LITB),<\/b> a global online retail company that offers a variety of products through its websites, announced major changes in its management yesterday. The company\u2019s President, Mark Stabingas, announced his decision to leave the company, and so has its Senior Vice President Quinten Shay.<\/p>\n<p style=\"text-align: justify;\">Stabingas and Shay have announced their decision of quitting the company stating the reasons to be based on personal grounds. Shay said that he will be working with the company only until the end of the year.<\/p>\n<p style=\"text-align: justify;\"><b>Shifting Responsibilities<\/b><\/p>\n<p style=\"text-align: justify;\">Lightinthebox Holding Co Ltd-ADR (NYSE:LITB) Chairman and Chief Executive Officer, Alan Guo, made an announcement that the company\u2019s efficient management team, which has been responsible for the successful realization of the company\u2019s various objectives, will assume and handle the roles and duties of both its President and Senior Vice President, after their respective departures. He thanked them both for their contributions to the company for the entire span of their tenure.<\/p>\n<p style=\"text-align: justify;\"><b>Revenue Outlook Reaffirmed<\/b><\/p>\n<p style=\"text-align: justify;\">Lightinthebox Holding Co Ltd-ADR (NYSE:LITB)\u2019s CFO, Robin Lu, reaffirmed the company\u2019s second quarter revenue outlook to be in the range of 16% to 19% growth year over year. He also reaffirmed other general business guidance that was made in the company\u2019s previous earnings call. He also said that the company expects to continue to benefit from a solid e-Commerce advancement strategy and the support of its strong management team.<\/p>\n<p style=\"text-align: justify;\"><b>Other Recent Changes<\/b><\/p>\n<p style=\"text-align: justify;\">At the beginning of the month, Lightinthebox Holding Co Ltd-ADR (NYSE:LITB) had announced another major change in its management with the appointment of Xiaoping Xu as its independent director. The move sought to enhance the independence of the company\u2019s board members. The appointment, which was effective from June 4, also empowered Xu to act as the audit committee\u2019s member replacing Ye Yuan. His appointment marked the constituency of the company\u2019s audit committee only with independent directors.<\/p>\n<p style=\"text-align: justify;\">Concurrently with this appointment, the company had bid farewell to Xin Wen, the Executive Vice President. This was necessary to meet the maximum board members criterion of the company. However, the company sought to bring about changes in the clauses so as to invite Wen back in the Board.<\/p>\n<p style=\"text-align: justify;\">The Lightinthebox Holding Co Ltd-ADR (NYSE:LITB)\u2019s shares went down by 6.51% after the announcement of the resignation decision of two of its senior executives.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 06\/18\/2014 (wallstreetpr) \u2013 Lightinthebox Holding Co Ltd-ADR (NYSE:LITB), a global online retail company that offers a variety of products through its websites, announced [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":16891,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[4948,7395,4949],"stock_ticker":[],"class_list":["post-26171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-lightinthebox-holding-co-ltd-adr-nyselitb","tag-lightinthebox-holding-co-ltd-adr","tag-nyselitb","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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