Venlo, Netherlands - Vistaprint N.V., a leading online provider of professional marketing products and services to micro businesses and the home, today announced the promotion of Ernst Teunissen to executive vice president and chief financial officer. Mr. Teunissen, currently Vistaprint's vice president of corporate strategy, will assume the role on March 1, 2011 from current CFO Mike Giannetto, who has decided to leave Vistaprint to spend more time with his family.
"Since 2003, Mike built and will leave in place a very strong finance function and infrastructure, and has been an invaluable member of the senior management team overall," said Robert Keane, president and chief executive officer. "He helped take the company public in 2005 and drove sound investment decisions that have fueled significant revenue and earnings growth. I thank him for what will be eight years of service to the company and our stakeholders, and for the personal enjoyment and satisfaction I have had from working together so closely and so long."
Giannetto will leave Vistaprint effective June 30, 2011, and leave his role as CFO effective March 1, 2011. "It was very difficult for me to make the decision to leave Vistaprint," said Giannetto. "There's never a good time to make a decision like this, but I know I am leaving the company with a very strong and capable finance organization. I have thoroughly enjoyed working with Robert, the management team, and being a part of such an exciting growth story for nearly eight years. I will spend the next several months helping to ensure a smooth CFO transition."
"While I am disappointed that Mike has decided to leave Vistaprint, I am pleased to be in a position in which a successor for Mike was apparent," continued Keane. "Ernst Teunissen has made a tremendous impact on Vistaprint in corporate strategy and planning, is a trusted advisor to the senior most management team, and a respected leader."
Teunissen has over 20 years of experience in corporate strategy and finance. Prior to joining Vistaprint in 2009, from 2003 to 2009 he founded and led two London-based firms, ThreeStone Ventures, Ltd. and Manifold Partners, Ltd., in the areas of corporate finance and management consultancy. From 1999 to 2003, Teunissen was an executive director in Morgan Stanley's Investment Banking Division in London. From 1997 to 1999 he was a senior associate director in Deutsche Bank's Investment Banking Division in London and Singapore. While in investment banking, Teunissen specialized in mergers and acquisitions, initial public offerings, debt restructuring, and strategic investments for technology, media and telecommunications companies. From 1990 to 1997, Teunissen was a strategy consultant with the Monitor Company in Hong Kong and Amsterdam. Teunissen holds a Master of Business Administration degree from the University of Oregon, and a Bachelor of Business Administration from Nijenrode University, The Netherlands School of Business.
"I look forward to working with Vistaprint's talented and dedicated finance organization in my new role as chief financial officer," said Teunissen. "I believe combining Vistaprint's strategy and finance organizations will be a powerful way to help support the company's plans for continued growth in the years to come."