EVINE Live Inc. Announces Changes in Senior Management
09 February 2016 - 12:00AM
EVINE Live Inc. (NASDAQ:EVLV) today announced that its Board of
Directors has appointed Bob Rosenblatt, Chairman of the EVINE Live
Board, as interim Chief Executive Officer, effective immediately.
Mr. Rosenblatt will continue to serve as Chairman of the
EVINE Live Board. Mr. Rosenblatt's appointment as interim
Chief Executive Officer follows Mark Bozek’s decision to step down
as EVINE Live’s Chief Executive Officer and as a member of the
EVINE Live Board. EVINE Live also announced that Russell Nuce
will step down from his position as EVINE Live’s Executive Vice
President, Chief Strategy Officer, interim General Counsel and
Corporate Secretary.
The EVINE Live Board has initiated a formal search process to
identify a Chief Executive Officer. The EVINE Live Board has
engaged Korn Ferry, a leading national executive search firm, to
help identify candidates and will consider both internal and
external candidates.
Landel Hobbs, Vice Chairman of the EVINE Live Board, said, “We
are pleased to have someone of Bob’s caliber and expertise taking
on the role of interim CEO. With his profound knowledge and
experience in both e-commerce and televised shopping businesses,
and the in-depth understanding of all aspects of EVINE Live gained
during his tenure as Chairman, Bob is the natural choice to lead
the Company through this period of transition. The Board
appreciates his willingness to take on this expanded role and looks
forward to working closely with him.”
Mr. Hobbs continued, “On behalf of the Board, I want to thank
Mark and Russell for their contributions to EVINE Live. We
are grateful for Mark’s leadership during a dynamic period in the
Company’s history.”
“EVINE Live could not be better positioned for the future,” said
Mr. Rosenblatt. “We will bring an even greater focus and
discipline to EVINE Live’s merchandising strategy, margin profile,
and execution to deliver profitable growth and shareholder value.
With EVINE Live’s assets of cable distribution, a strong
merchandising organization, deep knowledge of our customers, a new
fulfillment operation, the overall trends in e-commerce, and
video now being the prime driver of content consumption at home,
work and via mobile, EVINE Live is really in the right place at the
right time.”
Mr. Rosenblatt continued, “I look forward to working with the
team to continue delivering products and experiences that attract
customers and win a greater share of wallet. Our team members
remain our greatest asset, and together, we stand well positioned
to execute on our strategic objectives.”
In a separate announcement issued today, EVINE Live provided
preliminary fourth quarter 2015 results. The announcement can
be found at investors.evine.com/news.
About Bob Rosenblatt Bob has more than 25 years
of leadership experience at a number of leading retail
organizations, including Tommy Hilfiger, HSN (formerly the Home
Shopping Network) and Bloomingdale’s. During the end of 2012
through mid-May of 2013, he was Interim President of Ideeli.com, a
flash sales company based in New York that was sold to Groupon. As
Group President and Chief Operating Officer of Tommy Hilfiger
Corporation, he grew revenues and profitability and built the
company’s first transactional web site. Mr. Rosenblatt co-managed
the process which culminated in the Tommy Hilfiger Company
successfully being sold to Apax Partners in 2006. Mr. Rosenblatt
also previously served as Chief Financial Officer, Chief Operating
Officer and President of HSN. Mr. Rosenblatt introduced and built
HSN’s online operation, which achieved profitability within three
months of inception. As Chief Financial Officer at Bloomingdale’s,
Mr. Rosenblatt was responsible for financial reporting, financial
planning and administrative management. For the past nine years,
Mr. Rosenblatt has been the Chief Executive Officer of Rosenblatt
Consulting, LLC, which specializes in helping investment firms
determine value in both public and private companies in the
consumer products sector, as well as helping retail firms maximize
profitability. Mr. Rosenblatt currently serves or has served on
several public and private boards in the retail and technology
industry including PepBoys (NYSE:PBY), RetailNext, Newgistics, ERA
(Electronic Retailing Association) and I.Predictus. In addition,
Mr. Rosenblatt previously taught at FIT (Fashion Institute of
Technology) as an Adjunct Professor.
About EVINE Live Inc. EVINE Live Inc.
(NASDAQ:EVLV) is a digital commerce company that offers a
compelling mix of proprietary and name brands directly to consumers
in an engaging and informative shopping experience via television,
online and mobile. EVINE Live reaches approximately 88 million
cable and satellite television homes 24 hours a day with
entertaining content that engages its community of customers in a
comprehensive digital shopping experience.
Please visit www.evine.com for more investor information.
Safe Harbor Statement Under the Private Securities
Litigation Reform Act of 1995This release may contain
certain "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
may be identified by words such as anticipate, believe, estimate,
expect, intend, predict, hope, should, plan, will or similar
expressions. Any statements contained herein that are not
statements of historical fact may be deemed forward-looking
statements. These statements are based on management's current
expectations and accordingly are subject to uncertainty and changes
in circumstances. Actual results may vary materially from the
expectations contained herein due to various important factors,
including (but not limited to): consumer preferences, spending and
debt levels; the general economic and credit environment; interest
rates; seasonal variations in consumer purchasing activities; the
ability to achieve the most effective product category mixes to
maximize sales and margin objectives; competitive pressures on
sales; pricing and gross sales margins; the level of cable and
satellite distribution for our programming and the associated fees;
our ability to establish and maintain acceptable commercial terms
with third-party vendors and other third-parties with whom we have
contractual relationships, and to successfully manage key vendor
relationships and develop key partnerships and proprietary brands;
our ability to manage our operating expenses successfully and our
working capital levels; our ability to remain compliant with our
long-term credit facility covenants; our ability to successfully
transition our brand name and corporate name; customer acceptance
of our new branding strategy and our repositioning as a digital
commerce company; the market demand for television station sales;
changes to our management and information systems infrastructure;
challenges to our data and information security; changes in
governmental or regulatory requirements; litigation or governmental
proceedings affecting our operations; significant public events
that are difficult to predict, or other significant
television-covering events causing an interruption of television
coverage or that directly compete with the viewership of our
programming; our ability to obtain and retain key executives and
employees; our ability to attract new customers and retain existing
customers; changes in shipping costs; our ability to offer new or
innovative products and customer acceptance of the same; changes in
customer viewing habits or television programming; and the risks
identified under "Risk Factors" in our most recently filed Form
10-K and any additional risk factors identified in our periodic
reports since the date of such Form 10-K. More detailed information
about those factors is set forth in our filings with the Securities
and Exchange Commission, including our annual report on Form 10-K,
quarterly reports on Form 10-Q, and current reports on Form 8-K.
You are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date of this announcement.
We are under no obligation (and expressly disclaim any such
obligation) to update or alter the Company's forward-looking
statements whether as a result of new information, future events or
otherwise.
Contacts
Media:
Dawn Zaremba
EVINE Live Inc.
press@evine.com
(952) 943-6043
Investors:
Jason Iannazzo
EVINE Live Inc.
jiannazzo@evine.com
(952) 943-6126
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