|[July 18, 2014]
Shutterfly Inc. Names Gautam Srivastava Chief Human Resources Officer
REDWOOD CITY, Calif. --(Business Wire)--
Inc. (NASDAQ:SFLY),�the leading manufacturer and digital retailer of
high-quality personalized photo products and services offered through a
family of lifestyle brands, today announced it has appointed Gautam
Srivastava as senior vice president and chief human resources officer.
Srivastava will join the Shutterfly Inc. team on July 21, 2014.
Shutterfly Inc. Names Gautam Srivastava Chief Human Resources Officer (Photo: Business Wire)
Srivastava will be responsible for all aspects of human resources
including compensation and benefits, recruiting, employee development
and relations, information systems, real estate, and employment
branding. Additionally, Srivastava will oversee the Shutterfly
"Gautam will be an incredible asset to the Shutterfly Inc. team," said
Jeffrey Housenbold, president and chief executive officer of Shutterfly
Inc. "He brings a passion for developing people and organizations as
well as deep general management expertise. His ability to link human
capital and business strategies will be invaluable as we continue to
scale and grow our consumer and enterprise businesses."
Srivastava brings many years of human resources and general operating
experience to his position. Most recently he was SVP of Human Resources
and Marketing for LSI Corp. (News - Alert), a designer of semiconductors for datacenter
storage and networking. Prior to LSI, Srivastava held numerous roles at
Advanced Micro Devices, Inc., including vice president, sales and
marketing and managing director, Middle East Africa and Pakistan; vice
president, sales and marketing, and chief of staff to the chief sales
and marketing officer; and vice president, compensation and benefits.
Prior to AMD (News - Alert), Srivastav was a principal at Mercer Human Resources
Consulting. He has also held human resources, finance, and business
development positions at several start-ups. Srivastava has a Bachelor of
Arts in Economics from University of California, Los Angeles.
In connection with his appointment, the Compensation Committee of
Shutterfly Inc.'s Board of Directors granted an inducement award to
Gautam Srivastava consisting of restricted stock unit awards and
performance based restricted stock unit awards representing the right to
receive up to 92,000 shares of Shutterfly Inc.'s common stock. The
awards will vest over four years, with 25% of the underlying shares
vesting on each of the first, second, third and fourth anniversaries of
the vesting commencement date. The right to receive up to 46,000 of the
shares is subject to the additional condition that certain
performance-based milestones be met on or before the vesting
commencement date. Vesting of all of the awards is subject to Mr.
Srivastava's continuous service through each vesting date.
The Compensation Committee granted the award as an inducement material
to Mr. Srivastava entering into employment in accordance with NASDAQ
Listing Rule 5635(c)(4).
About Shutterfly, Inc.
Shutterfly, Inc. is the leading manufacturer and digital retailer of
high-quality personalized products and services offered through a family
of lifestyle brands. Founded in 1999, the Shutterfly, Inc. family of
brands includes Shutterfly,
where your photos come to life in photo books, cards and gifts; Tiny
Prints, premium cards and stationery for all life's occasions; Wedding
Paper Divas, wedding invitations and stationery for every step of
the planning process; Treat,
personalized greeting cards that really stand out; MyPublisher,
one of the pioneers in the photo book industry and creator of
easy-to-use photo book-making software; ThisLife,a
private, cloud-based memory solution that makes it easy for consumers to
find, share and enjoy their photos and videos, all in one place; and BorrowLenses,
the premier online marketplace for photographic and video equipment
rentals. For more information about Shutterfly, Inc. (NASDAQ:SFLY),
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20140718005806/en/
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