PFSweb Announces Results of 2009 Annual Meeting of Stockholders
PFSweb, Inc. (Nasdaq: PFSW), an international business process outsourcing provider of end-to-end eCommerce solutions, today announced that all corporate proposals were approved at the Company's 2009 Annual Meeting of Stockholders held on June 5, 2009.
At the meeting, stockholders approved the election of two Class I directors, ratified the appointment of Grant Thornton LLP as the Company's independent auditors for the fiscal year ending December 31, 2009 and approved the reduction of the number of authorized shares of Common Stock from 75 million shares to 35 million shares. Stockholders also approved amendments to PFSweb's 2005 Employee Stock and Incentive Plan to increase the number of shares of Common Stock issuable by 1.2 million shares and to modify the Non-Employee Director Stock Option and Retainer Plan to increase the number of shares of Common Stock issuable by 45,000 shares.
About PFSweb Inc.
PFSweb develops and deploys integrated business infrastructure solutions and fulfillment services for Fortune 1000, Global 2000 and brand name companies, including third party logistics, call center support and e-commerce services. The company serves a multitude of industries and company types, including such clients as AAFES, LEGO, Riverbed, International Business Machines, Hawker Beechcraft Corp., Rene Furterer USA, Roots Canada Ltd. and Xerox.
Through its wholly owned eCOST.com subsidiary, PFSweb also serves as a leading multi-category online discount retailer of high-quality new, "close-out" and manufacturer recertified brand-name merchandise for consumers and small to medium size business buyers. The eCOST.com brand markets approximately 240,000 different products from leading manufacturers such as Sony, JVC, Canon, Hewlett-Packard, Garmin, Panasonic, Toshiba, Microsoft, Sennheiser, Dyson and Denon primarily over the Internet and through direct marketing.
To find out more about PFSweb, Inc. (NASDAQ: PFSW), visit the company's websites at http://www.pfsweb.com and http://www.ecost.com.
SOURCE: PFSweb, Inc.
PFSweb, Inc. Laura Osborne, 972-881-2900 x3574 Corporate Communications Manager losborne@pfsweb.com or Investors: KCSA Strategic Communications Todd Fromer, 212-896-1215 tfromer@kcsa.com or Garth Russell, 212-896-1250 grussell@kcsa.com