Business
PriceSmart Announces Organizational Changes
David Price Appointed Executive Vice President and Chief Transformation Officer Welcomes Wayne Sadin as Chief Information Officer SAN DIEGO, July 28, 2023
About this update from Pricesmart, Inc.
[{"type":"text","content":"David Price Appointed Executive Vice President and Chief Transformation Officer Welcomes Wayne Sadin as Chief Information Officer\nSAN DIEGO, July 28, 2023 /PRNewswire/ -- PriceSmart, Inc. (NASDAQ: PSMT) announced today that David Price, formerly the Executive Vice President and Chief of Staff to the Interim CEO, has been appointed as Executive Vice President and Chief Transformation Officer, effective immediately. The Company expects this organizational change will promote better collaboration, alignment, and agility within the Company. Several key areas will now report to Mr. Price including Information Technology, PriceSmart.com, and the Project Management Office.\n\n \n \n \n \n \n \n\n \nOn July 1, 2023, PriceSmart welcomed Wayne Sadin as Chief Information Officer. Mr. Sadin is responsible for overseeing all aspects of the Company's technology systems, data management, cybersecurity, and digital innovation. His focus is on aligning our information technology strategy with our business objectives while fostering a culture of continuous improvement, improving operational efficiencies, and enabling our organization to leverage technology as a strategic advantage.\nAbout PriceSmart\nPriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise and services at low prices to PriceSmart Members. PriceSmart operates 51 warehouse clubs in 12 countries and one U.S. territory (nine in Colombia; eight in Costa Rica; seven in Panama; five in the Dominican Republic and Guatemala, four in Trinidad; three in Honduras and El Salvador, two in Nicaragua and Jamaica; and one each in Aruba, Barbados and the United States Virgin Islands). In addition, the Company plans to open a warehouse club in Medellín, Colombia in August 2023, a club in Escuintla, Guatemala in the fall of 2023 and a warehouse club in Santa Ana, El Salvador in early 2024. Once these three new clubs are open, the Company will operate 54 warehouse clubs.\nThis press release may contain forward-looking statements concerning PriceSmart, Inc.'s (\"PriceSmart\", the \"Company\" or \"we\") anticipated future revenues and earnings, adequacy of future cash flows, omni-channel initiatives, proposed warehouse club openings, the Company's performance relative to competitors and...