Red Hat loses finance VP to ChannelAdvisor

Morrisville e-commerce company ChannelAdvisor announced a new chief financial officer Tuesday, three months after replacing its co-founder and CEO Scot Wingo.

Mark Cook will start as ChannelAdvisor’s CFO on Sept. 1, replacing John Baule. Cook is currently working at Raleigh software developer Red Hat as vice-president of finance and controller. Cook has previously worked at Cluett American Corp., Guilford Mills, Worthington Industries, Blount and RJR Nabisco.

ChannelAdvisor is in the midst of a corporate transition as the technology company is trying to figure out how to monetize digital business transactions. ChannelAdvisor’s cloud-based software enables retailers to manage online sales across multiple platforms. The software also allows retailers to advertise on search engines and promote products on Facebook.

The company also reported second-quarter revenue Tuesday, posting a 16 percent increase to $24.2 million.

ChannelAdvisor posted a net loss of $6.5 million, compared to a net loss of $9.6 million in the second quarter of 2014.

The company’s roster of customers grew 10 percent to 2,937 customers. Average revenue per customers increased 3 percent to $32,022 in the second quarter.

ChannelAdvisor’s stock closed at $10.14 Tuesday, up 8 cents per share. The company’s shares have fallen 53 percent this year. The company has more than 600 employees at 10 locations worldwide but doesn’t disclose the size of its Triangle workforce.

This story was originally published August 5, 2015 at 5:17 AM with the headline "Red Hat loses finance VP to ChannelAdvisor."