15 Apr 2014

Borderfree Appoints Stephen I. Sadove as Chairman of New Advisory Board

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Borderfree (NASDAQ:BRDR), a market leader in international cross-border ecommerce solutions, today announced the appointment of Steve Sadove, former Chairman and Chief Executive Officer of Saks Incorporated, as Chairman of its newly created Advisory Board. The Advisory Board will lend strategic insight to Borderfree’s global ecommerce initiatives.

“We are thrilled to name an executive of Steve’s caliber as Chairman and we look forward to leveraging his considerable experience and impressive track record of helping to grow some of America’s most recognizable brands.”

“Borderfree’s new Advisory Board will advance our mission of helping domestic retailers successfully expand their international presence,” said Michael DeSimone, Chief Executive Officer, Borderfree. “We are thrilled to name an executive of Steve’s caliber as Chairman and we look forward to leveraging his considerable experience and impressive track record of helping to grow some of America’s most recognizable brands.”

Mr. Sadove currently serves as Chairman of the Board of the National Retail Federation and also serves on the public company boards of Colgate-Palmolive, JCPenney, Aramark and Ruby Tuesday. He joined Saks Incorporated in 2002, where he held various executive titles before ascending to Chairman and Chief Executive Officer, a position he held from 2006 to November 2013. Prior to joining Saks, Mr. Sadove built a distinguished marketing and consumer products career spanning more than 25 years. He spent 11 years at Bristol-Myers Squibb, serving in various presidential roles. During his tenure at the company, he led Clairol to become the number one hair care business in the United States, relaunched the Herbal Essences brand into a $700 million business, and completed the sale of the beauty care business to Procter & Gamble for approximately $5 billion. Between 1975 and 1991, Mr. Sadove held various positions of increasing responsibility with General Foods USA, including Executive Vice President and General Manager of the Desserts Division. Mr. Sadove is a graduate of Hamilton College and holds an MBA with distinction from Harvard Business School.

“I’m honored to serve as Chairman of Borderfree’s Advisory Board and excited about the work the company is doing to make global retailing a reality,” said Mr. Sadove. “I look forward to furthering Borderfree’s mission of breaking down the barriers to cross-border selling and helping America’s most iconic brands reach consumers abroad.”