Michelle Peluso has left Citigroup to become the CEO of Gilt Groupe Inc. She was the global consumer chief marketing Internet officer at Citigroup at the time that she decided to quit. Gilt Groupe eventually plans to go public. Peluso is replacing Kevin Ryan, one of the founders of the company. Peluso had been a board member of Gilt since October 2009. Peluso joined Citigroup in 2009 after serving as the CEO of Travelocity since 2003.
?It?s hard to find the right person who can understand the startup mentality yet still manage a 1,000-person company,? stated Ryan in an interview. ?She?s done a startup in the past, she?s worked at a large company, and that list is literally like five people.?
Gilt Groupe intends to go public as early as next year. Ryan will remain as the chairman of the company. Gilt was valued at $1 billion after a round of funding last year. The company started as being focused on luxury good sales that last around 36 hours. The company now sells regular-priced items.