STAMPS.COM NAMES CEO JOHN PAYNE AS CHAIRMAN; POSTAL INDUSTRY VETERAN LOREN SMITH
APPOINTED PRESIDENT AND COO
SANTA MONICA, Calif. – (October 25, 1999) – Stamps.com™ (Nasdaq: STMP), the leader in Internet Postage™, today announced the appointment of CEO John Payne to the additional position of chairman of the board. In addition, Stamps.com announced the appointment of postal industry veteran Loren Smith as president and chief operating officer.
In his role as CEO, Payne has successfully positioned Stamps.com as the leader in Internet Postage. With more than 100,000 people pre-registered for its service, Stamps.com launched its software-only service nationally last week.
In his new role as president and chief operating officer, Smith brings more than 40 years of experience in marketing and operations, including having served as chief marketing officer of the U.S. Postal Service and vice president in Citibank’s Consumer Services Group. Smith has served as a member of the Stamps.com board of directors and as a consultant to the company since February 1999.
“As a member of the board and consultant to the company, Loren has already become a vital resource to Stamps.com,” said Stamps.com director David Bohnett, founder and former chairman of the board of GeoCities. “Loren’s broad marketing and operations experience will be a valuable addition to the senior management team of Stamps.com.”
“Stamps.com is fortunate to add Loren to its management team,” said Stamps.com director and former U.S. Postmaster General Marvin Runyon. “With the successful launch of the Stamps.com service, Loren’s addition to the organization will increase the management focus on a world-class experience for the Stamps.com customer.”
Founded in 1996, Santa Monica, Calif.-based Stamps.com is the only commercially approved true Internet Postage service. The company’s innovative technology eliminates the need for specialized hardware by giving customers the flexibility to print postage over the Internet – securely, accurately and fast. Through partnerships with major companies like America Online, IBM, Microsoft, Office Depot, Quicken.com and 3M, Stamps.com has tremendous reach into the small office/home office and consumer markets. More information about the company can be found at sdcmainprod.wpengine.com.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This release may contain forward-looking statements that involve risks and uncertainties. Important factors, which could cause actual results to differ materially from those in the forward-looking statements are detailed in filings with the Securities and Exchange Commission, made from time to time by Stamps.com, including its Form 10-Q for the quarter ended June 30, 1999, and Stamps.com’s prospectus, related to its initial public offering, that was filed with the SEC on June 25, 1999.
Internet Postage, Stamps.com and the Stamps.com logo are trademarks of Stamps.com Inc. All other brands and names are property of their respective owners.