Mike Sorabella has been chosen to be the new chief executive of Shoebuy.com after the sudden departure of Scott Savitz from the company. He will be leading all strategies and operations of Shoebuy as well as its sister sites, Bagsbuy.com and Outletbuy.com. Sorabella previously was the chief financial officer for six years, helping the company through its 2006 acquisition by IAC. Before that, he was a group manager for FleetBoston Financial, in the derivatives business. Savitz founded the company 11 years ago, and his departure was unexpected.