GigaCloud Technology Inc Welcomes Industry Veteran Marshall Bernes to Board
GigaCloud Technology (Nasdaq: GCT) announced the appointment of Marshall Bernes to its Board of Directors, replacing retiring member Frank Hurst Lin. Bernes, currently Head of GigaCloud's BaaS Program and former CEO of Noble House Home Furnishings, brings over 30 years of home furnishings industry experience. Lin, a general partner at DCM venture capital firm, retired to focus on pre-IPO portfolio companies, citing no disputes with the company. The Board maintains five members, with Bernes' appointment effective November 11, 2024.
GigaCloud Technology (Nasdaq: GCT) ha annunciato la nomina di Marshall Bernes nel suo Consiglio di Amministrazione, in sostituzione del membro in pensione Frank Hurst Lin. Bernes, attuale responsabile del Programma BaaS di GigaCloud e ex CEO di Noble House Home Furnishings, porta con sé oltre 30 anni di esperienza nel settore dell'arredamento per la casa. Lin, socio generale della società di venture capital DCM, si è ritirato per concentrarsi sulle aziende del suo portafoglio pre-IPO, senza citare alcun conflitto con l'azienda. Il Consiglio mantiene cinque membri, con la nomina di Bernes che entrerà in vigore l'11 novembre 2024.
GigaCloud Technology (Nasdaq: GCT) anunció el nombramiento de Marshall Bernes en su Junta Directiva, reemplazando al miembro en retiro Frank Hurst Lin. Bernes, actual jefe del Programa BaaS de GigaCloud y ex CEO de Noble House Home Furnishings, aporta más de 30 años de experiencia en la industria del mobiliario para el hogar. Lin, socio general de la firma de capital de riesgo DCM, se retiró para centrarse en las empresas de su cartera previas a la salida a bolsa, citando que no hubo disputas con la empresa. La Junta mantiene cinco miembros, con el nombramiento de Bernes efectivo a partir del 11 de noviembre de 2024.
기가클라우드 테크놀로지 (Nasdaq: GCT)는 마샬 번스를 이사회에 임명했다고 발표했습니다. 그는 은퇴하는 회원 프랭크 허스트 린을 대체합니다. 번스는 현재 기가클라우드의 BaaS 프로그램 책임자이며, 노블 하우스 홈 퍼니싱의 전 CEO로, 가정 용품 산업에서 30년 이상의 경험을 보유하고 있습니다. 린은 DCM 벤처 캐피탈 회사의 일반 파트너로 활동하며, 기업과의 분쟁이 없음을 언급하며 IPO 전 포트폴리오 회사에 집중하기 위해 은퇴했습니다. 이사회는 다섯 명의 멤버를 유지하고 있으며, 번스의 임명은 2024년 11월 11일부터 효력이 발생합니다.
GigaCloud Technology (Nasdaq: GCT) a annoncé la nomination de Marshall Bernes au sein de son Conseil d'Administration, remplaçant ainsi le membre partant Frank Hurst Lin. Bernes, actuellement responsable du Programme BaaS de GigaCloud et ancien PDG de Noble House Home Furnishings, possède plus de 30 ans d'expérience dans l'industrie de l'ameublement. Lin, partenaire général de la société de capital-risque DCM, a pris sa retraite pour se concentrer sur les entreprises de son portefeuille avant leur introduction en bourse, précisant qu'il n'y avait pas de conflits avec l'entreprise. Le Conseil compte cinq membres, et la nomination de Bernes entrera en vigueur le 11 novembre 2024.
GigaCloud Technology (Nasdaq: GCT) gab die Ernennung von Marshall Bernes in seinen Vorstand bekannt, der den in den Ruhestand gehenden Mitglied Frank Hurst Lin ersetzt. Bernes, derzeit Leiter des BaaS-Programms von GigaCloud und ehemaliger CEO von Noble House Home Furnishings, bringt über 30 Jahre Erfahrung in der Möbelbranche mit. Lin, ein geschäftsführender Partner der Venture-Capital-Firma DCM, trat zurück, um sich auf Unternehmen in seinem Vor-IPO-Portfolio zu konzentrieren, und betonte, dass es keine Streitigkeiten mit dem Unternehmen gibt. Der Vorstand besteht aus fünf Mitgliedern, und Bernes' Ernennung tritt am 11. November 2024 in Kraft.
- Appointment of industry veteran with 30+ years of experience in home furnishings sector
- Smooth board transition maintaining governance stability with five members
- New director brings direct industry expertise as former CEO of Noble House Home Furnishings
- None.
-- Bernes Succeeds Retiring Director Frank Hurst Lin after Nearly 18 Years of Service --
EL MONTE, Calif., Nov. 13, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced the appointment of Marshall Bernes to its Board of Directors (“Board”), succeeding retiring member Frank Hurst Lin. With this appointment, the Board’s membership remains at five.
Currently the Head of GigaCloud’s newly launched BaaS Program, Bernes was the Founder and former Chief Executive Officer of Noble House Home Furnishings LLC. Bernes is a reputable, widely recognized and trusted leader in the home furnishings sector with over 30 years of industry experience. He will contribute his expertise to the Board upon his appointment, effective November 11, 2024.
“On behalf of the Board of Directors, I would like to thank Hurst for his services,” said Larry Wu, Founder, Chairman and Chief Executive Officer. “Hurst’s insightful advice and perspectives, especially during the founding years of the Company, have proven to be invaluable. We wish him all the best.”
On November 6, 2024, Lin notified the Company of his intention to retire from the Board, effective immediately. As a general partner at DCM, a Silicon Valley venture capital firm that specializes in investing in early-stage technology companies, Lin cited his desire to return to focusing on guiding pre-IPO, emerging portfolio companies as the principal reason for his decision to retire from the Board. Lin did not advise the Company of any dispute or disagreement with the Company or the Board, or on any matter relating to the Company’s operations, policies or practices.
“It has been a thoroughly rewarding experience as a venture capital investor to help shape GigaCloud from its early beginnings into a leading global B2B ecommerce solutions for large parcel merchandise,” said Lin. “I have gotten to know the current Board during my tenure, and am confident that they have the right strategy in place to continue growing the Company well into the future.”
“We are excited to welcome Marshall to the Board,” said Wu. “Over his long and successful career, Marshall has demonstrated his incredible knowledge of the furniture industry, and we look forward to benefiting from his experience as we continue to grow the GigaCloud B2B Marketplace and add increasing value to all of our stakeholders.”
About GigaCloud Technology Inc
GigaCloud Technology Inc is a pioneer of global end-to-end B2B technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. GigaCloud offers a comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories, including home appliances and fitness equipment. For more information, please visit the Company’s website: https://investors.gigacloudtech.com/
Forward-Looking Statements
This press release contains “forward-looking statements”. Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
For investor and media inquiries, please contact:
GigaCloud Technology Inc
Investor Relations
Email: ir@gigacloudtech.com
PondelWilkinson, Inc.
Laurie Berman (Investors) – lberman@pondel.com
George Medici (Media) – gmedici@pondel.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/767930db-f2f0-4c18-a7f7-72b04b25537c
FAQ
Who is the new board member appointed to GigaCloud Technology (GCT)?
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