The Members Forum

The chief executive of Miami’s CompUSA and TigerDirect is being fired following an investigation of an anonymous whistleblower complaint.

The news of Gilbert Fiorentino’s departure was announced Monday by Systemax, the parent company of both CompUSA and TigerDirect. Fiorentino, who also served as chief executive of Systemax’s Technology Products Group and a director of the publicly traded parent company, was placed immediately on administrative leave as the company began steps to terminate his employment.

 The actions came after the conclusion of an independent investigation of the unspecified whistleblower allegations focusing on the company’s Miami operations. Fiorentino, founded TigerDirect in 1987 in Miami with his brother and a partner as a catalog company that later morphed into one of the early internet retailers.

The investigation conducted by Systemax’s Audit Committee and independent legal counsel determined that the issues surrounding the whistleblower complaint had no “material impact” on Systemax’s financial results and the impact was limited to the Miami operations.

“We appreciate that our internal processes facilitated the efforts of the individual who brought these matters to our attention, and we appreciate the diligent work done by our Audit Committee and its independent counsel to thoroughly evaluate the complaints,” Richard Leeds, chairman and chief executive officer of Systemax, said in press release.

Systemax, based in Port Washington, N.Y., initially disclosed the investigation in its annual report filed with the Securities and Exchange commission on March 17th. No information has been released about the substance of the allegations, although questions about financial improprieties are being suggested.

A Systemax spokeswoman said the company would not comment beyond the press release. A call to Fiorentino’s cell phone was not returned.

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

Miami Herald has the details HERE!