*August 1, 2006 – *Photo-sharing website PhotoWorks Inc. announced on Friday the resignation of its president and CEO Philippe Sanchez.
Heading the company since 2003, Sanchez led PhotoWorks’ reconstruction from the mail-based film processing company (Seattle Filmworks) into an online digital printing service. 'I was brought on board…to drive the turnaround of PhotoWorks, a task which has now been successfully completed,' said Sanchez in PhotoWorks press release.
Celebrating its 30th anniversary, the company drew digital sales of $3.6 million in the first six months of this fiscal year, an increase of 86 percent from last year, according to the release.
Sanchez will remain on the company board as an advisor, stated the release. PhotoWorks chairman Joseph Waechter will act as interim CEO.