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Report: Ousted exec put 'personal interest' first

Gilbert Fiorentino

Gilbert Fiorentino

Not even Gilbert Fiorentino’s hometown newspaper, The Miami Herald, could reach him Monday. 

Fiorentino, a top executive with Port Washington-based computer retailer Systemax Inc., is being fired after an investigation prompted by an anonymous whistleblower’s tip. A call to Fiorentino's cell phone was not returned,” The Herald reports.

“Discussion about the allegations against Fiorentino, 51, was growing Monday among company employees and the investment community.”

Fiorentino ran the Systemax division that included, CompUSA and Circuit City.

The Herald got hold of an investment counselor’s note to clients: “’Mr. Fiorentino placed his personal interest ahead of the company's interest, as we understand from our discussion with management," David Strasser, managing director at Janney Montgomery Scott, wrote Monday. ‘We do not have any specifics of the action, nor does it matter to us. The issue is one of management transition and whether that will impact the company.’” 

The Herald said, “During the company's 2010 fiscal year ending last April, Fiorentino earned a salary of $501,378, yet his total compensation package exceeded $3 million, making him the top paid executive that year at Systemax.”

Systemax said the whistleblower allegations were focused only on its Miami operations, which Fiorentino ran.

Photo: Ousted Systemax executive Gilbert Fiorentino


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