Online retailer Gilt names new CEO

Discount luxury goods retailer Gilt appointed board member Michelle Peluso CEO effective at the end of February 2013 to replace company founder Kevin Ryan.

Peluso is currently the global consumer chief marketing and Internet officer at Citigroup and has served on the Gilt board since 2009. She fills the position held by Kevin Ryan who founded the innovative company in 2007 and will remain as chairman. Current chairman Susan Lyne will become vice chairman.

"I'm tremendously excited to be leading a company with a brand I love and a team I've come to greatly admire," said Peluso.  "Gilt has done a terrific job establishing itself as one of the most innovative online shopping destinations and I am looking forward to continuing to build on Gilt's growth and success."

What makes Gilt unique is that every day at noon the company launches new, limited-time sales of the highly sought after products and most desirable brands in fashion, home decor and leisure. The company has become a leader in the limited duration flash-sale space and has attracted millions of loyal shoppers by offering special access to desirable merchandise and experiences at insider prices.

"Michelle's deep Internet experience, coupled with her operating and marketing background, made her my ideal choice to be Gilt's CEO going forward," Ryan said. "We have worked together for three years as fellow board members and I am thrilled she will be leading Gilt to its next level of growth and market leadership."

Before joining Citigroup in 2009, Peluso was CEO of Travelocity from 2003 to 2009 after serving as the company's COO and SVP of product strategy and distribution. Peluso joined Travelocity following the company's acquisition of Site59, a travel site she created and launched in 2000.  Site59 was the leader in the U.S. "last minute deals" arena and was acquired by Travelocity in March 2002.  Prior to leading Site59, Peluso served as a White House Fellow and Senior Advisor to Labor Secretary Alexis Herman and worked as a case leader for The Boston Consulting Group in New York and London.