Park Place Entertainment Corporation (NYSE: PPE) today named eToys co-founder Frank Han to the newly created position of senior vice president for electronic commerce.
In his new post, Han will lead Park Place’s efforts to create innovative strategies for marketing its casino, hotel and resort products on the World Wide Web. In addition, Han will develop new Internet-based products.
“Our goal is to become an on-line leader in the resort, gaming and entertainment industry,” said Park Place President and Chief Executive Officer Thomas E. Gallagher. “That means breaking the mold in marketing our existing resort, entertainment, travel and leisure products to drive new revenue streams and create more choice and convenience for our customers and guests. It also means creating new on-line products that ultimately may include gaming-related offerings where they are legal and appropriate.
“Frank brings a wealth of on-line experience to the Park Place team. As a founder of eToys, he built one of the most respected and innovative e-commerce companies from the ground up. Earlier, as the chief architect of Union Bank of California’s on-line business, he developed and launched a pioneering electronic banking service. We’re delighted to have him join us,” Gallagher said.
Han will report to Peter George, senior vice president and managing director of Park Place’s international group, on international and Internet gaming issues. He will work with Gallagher and Park Place Chief Operating Officer Wallace R. Barr on domestic Internet strategies.
“Park Place is demonstrating a significant commitment to taking a leadership position on the Internet. I’m excited about developing new products and services that will take advantage of new electronic technology and offer great new opportunities for our company and our customers,” Han said.
Han was one of two founders of eToys, which became the world’s leading Internet-based retailer of children’s toys. He also served as chief operating officer. Han directed the development of the company’s e-commerce strategy, launched and managed the award-winning eToys.com Web site and oversaw the company’s software and operations backbone. He grew annual revenues from start-up to more than $150 million in less than three years.
Earlier, at Union Bank of California, Han developed and launched [email protected], an innovative suite of products and services that offered consumers and small businesses the ability to view their banking transactions and pay bills through personal financial software packages and over the Internet.
Before joining Union Bank, Han held positions at Mission Energy Company in Irvine, California, and Salomon Brothers, Inc. and Donaldson, Lufkin and Jenrette in New York City.
Han earned a Master’s degree in business administration at Stanford University and a Bachelor of Science degree at Yale University.