Michelle Peluso Takes Top Spot at Gilt Groupe

Gilt Groupe said on Thursday it hired board member and Citigroup Inc. Internet executive Michelle Peluso as chief executive as the e-commerce company prepares for a possible initial public offering next year. Peluso will replace Gilt founder and current CEO Kevin Ryan in late February. Ryan will become chairman of Gilt and the company's current chairman Susan Lyne will be vice chairman, the company said. Ryan founded Gilt in 2007 as the first major flash sales company in the United States.

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