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Citigroup CFO to Priceline
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February 23, 2000: 5:44 p.m. ET
Name-your-price Web company names Heidi Miller as CFO, board member
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NEW YORK (CNNfn) - Priceline.com Inc., the "name-your-price" Internet company that allows customers to bid for goods and services, named Citigroup CFO Heidi Miller as its top financial officer Wednesday.
Miller, considered one of the top women executives in the United States, also will join the Norwalk, Conn.-based company's board of directors and become senior executive vice president for strategic planning and administration.
Miller, 46, succeeds Paul Francis, who joined the startup company in 1997.
Francis, 45, was named to the board of directors of Walker Digital, which created Priceline's business model. Francis also will join two of Priceline's affiliated companies, becoming CFO of Priceline WebHouse Club and non-executive chairman of Priceline Perfect YardSale.
Miller will replace Francis on the board, keeping the company's board size at eight members.
Miller joined Travelers Group in early 1992 and became its CFO three years later. After Travelers merged with Citicorp, she became CFO of the newly created Citigroup (C: Research, Estimates), the world's biggest financial corporation.
"Fortune" magazine last year named Miller the No. 2 most powerful businesswoman in the United States, behind Hewlett-Packard Co. (HWP: Research, Estimates) CEO Carly Fiorina.
Through its online pricing system, Priceline allows consumers to name their prices for airline tickets, hotel rooms and groceries. The company, which has no warehouse inventories of its product lines, takes the customer's offers and then presents them to sellers who decide whether they can fill the demand.
Miller's appointment was announced after Wednesday's market close. Shares of Priceline (PCLN: Research, Estimates) finished the day up 1-3/4 at 51-7/8, then gained another 3-7/8 to 55-3/4 in after-hours trading. 
-- staff and wire reports
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Priceline.com
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