[Update1] Geeknet (LNUX) Elects Kenneth G. Langone Chairman of the Board of Directors, Former WWE insiders now control 50% of LNUX Board...Story Developing.
Geeknet Elects Kenneth G. Langone Chairman of the Board of Directors
"...MOUNTAIN VIEW, Calif., July 8, 2010 -- Geeknet, Inc. (Nasdaq:LNUX), the online network for the global geek community, today announced that Kenneth G. Langone has been elected Chairman of the Board of Directors. Robert M. Neumeister, Jr., who has been serving as Chairman since December 2007, will remain on the board as a Director.
"We are fortunate to have Ken joining us at Geeknet," said Scott L. Kauffman, President and Chief Executive Officer. "His experience, wisdom and tremendous business acumen will serve us well as we continue to grow our ecommerce and media businesses."
Mr. Langone is the founder and, since 1974, has been Chairman of the Board, Chief Executive Officer and President of Invemed Associates, LLC, a New York Stock Exchange firm engaged in investment banking and brokerage. He is a co-founder of The Home Depot, Inc. and was a director and member of the executive committee of its board for 30 years. He also serves on the boards of YUM Brands and Unifi, Inc..."
Source: (July 08, 2010) Geeknet (LNUX)
and now...the rest of the story...
The WWE Entertainment, Langone/Invemed, and Suzanne Present/Solomon/Gladwyne/Marlin Sams Connection.
"...As of August 20th , reported shares [benificially] owned by William M. Sams and Marlin Sams Fund(s) are 13,285,937 *. Suzanne Present (LNUX) and Michael Sileck (WWE/LNUX) are both affiliated with these Fund(s) and or Company's with a major position held by said Fund(s). See Michael Sileck / Suzanne Present Board Affiliations and 6 month performance of Sams Investments .
Note: They appear to be in venerable** Company i.e. Gladwyne/Invemed Catalyst Fund was (are) a major investor in WWE (Sileck) and Unify (UFI). Kenneth Langone, is the Chairman and Founder of Invemed (and Home Depot, et al)... Source: (1.)
(1.) (August 23, 2009) Follow the Money:Gladwyne/Sams (Present/Sileck) SourceForge (LNUX) Control Exceeds 22%* (shares) 28% (Board)
(2.) (March 03, 2010) Hedge Funds on a Buying Spree for Underperforming Management?
(3.) (February 21, 2010) Is a former Director, a former COO, and former majority shareholder of World Wrestling Entertainment about to throw a triangle choke hold on Geeknet (LNUX)
(4.) (November 25, 2009) Why is Yahoo! Deleting Messages* with Profound Legal Implications From Geeknet (LNUX) Message Board?
(5.) (December 24, 2009) Geeknet (LNUX) In Perspective: Is Geeknet nothing more than a Refuge for the Unemployable? Shareholder Value Hostile and Challenged Company Continues to Close Below Liquidation Value.
(6.) (June 12, 2010) Geeknet (LNUX) Smoking Guns or An Open Letter to the Geeknet (LNUX) Management and Board of Directors.