BELLEVUE, Wash., Feb. 6, 2014 /PRNewswire/ -- Outerwall Inc.
(Nasdaq: OUTR) today announced three executive leadership moves
within its Redbox, Coinstar and ecoATM businesses. Mark Horak, most recently president the Americas
at Warner Bros. Home Entertainment, Inc., plans to join Redbox as
its new president on March 17. In addition, two seasoned
executives and company leaders at Outerwall will fill top
leadership roles at Coinstar and ecoATM. Coinstar operations
executive James H. Gaherity will
transition to president of Coinstar as Mike
Skinner has decided to leave the company for another
opportunity after nine years of service. Maria Stipp, having served as chief new ventures
officer and concurrently interim president of ecoATM since
October 2013, has been appointed
president of the ecoATM business.
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Redbox
Horak will bring more than 30 years of media, entertainment
and marketing expertise to Redbox. His work as a Hollywood studio executive, experience growing
DVD, Blu-ray, video game and digital sales in North America and marketing high-profile film
titles, positions Horak well to drive continued growth and
profitability at Redbox.
"We're excited to have an individual as talented and experienced
as Mark Horak join Redbox," said
J. Scott Di Valerio, chief executive
officer of Outerwall Inc. "Mark's background and relationships
throughout the entertainment and media industries will prove
extremely valuable to Redbox as we work to make Redbox America's
number one choice for movies. Mark understands both the
physical and digital aspects of the business and will help us
continue to carve out our path to support the home entertainment
ecosystem driving value for consumers, studios, retail partners and
our company."
"Redbox is an industry innovator and a beloved brand that stands
for convenient entertainment at a value," said Mark Horak, incoming president, Redbox. "As the
media landscape evolves, it's an exciting time to work on the next
phase of the business with an emphasis on driving growth for
Redbox."
About Mark Horak
Most
recently serving as president the Americas at Warner Bros. Home
Entertainment, Horak's responsibilities included managing his
region's P&L for the physical and digital video and video game
business. He began his career with Warner Bros. in various
executive-level marketing roles where he rose to executive vice
president and general manager for Canada, Latin
America, Australia and
Asia, and then executive vice
president and general manager of Worldwide Operations and New
Packaged Media. Previously, he served in marketing positions with
Dole Packaged Foods, StarKist Seafood Company and Nabisco Brands,
Inc. Horak earned a bachelor's degree in Business Administration
from Loyola Marymount University and
master's degree in Business Administration from The Wharton School
at the University of Pennsylvania.
Coinstar
A 10-year Outerwall executive, Gaherity plans to transition to
president of the Coinstar business following Mike Skinner's decision to resign. Gaherity
currently serves as the head of Coinstar's worldwide operations.
Skinner will remain at Coinstar through March 10, 2014, to ensure a smooth
transition.
"On behalf of the organization, I'd like to thank Mike for his
leadership and many contributions as he steps down after nine years
of service and leading Coinstar to its highest annual revenue in
2013," said Di Valerio. "We wish Mike all the best in his next
endeavor and appreciate his help ensuring a smooth transition.
We're fortunate to have a strong successor and confident in
Coinstar with Jim taking the helm to drive continued profitability
in this segment of Outerwall's business."
About James H.
Gaherity
Gaherity is an accomplished senior
executive with 25 years' experience building teams, developing and
executing long-term strategies and operating plans for large-scale
businesses. He joined Outerwall in 2004 as the director of
operations for Coinstar and was steadily promoted over the years to
senior vice president overseeing Coinstar worldwide operations and
certain new venture businesses. At Outerwall, Gaherity had P&L
accountability coupled with solid business analytic skills. Prior
to Outerwall, Gaherity spent 16 years serving in management roles
at The Brinks Company. He earned a bachelor's degree in Business
Administration, Management and Operations from Saint Anselm College.
ecoATM
Serving as Outerwall's chief new ventures officer and interim
president for ecoATM, Stipp has been appointed by Outerwall's Board
as the new president of ecoATM, effective immediately. Stipp joined
Outerwall in 2011 as chief customer officer, and later transitioned
to the company's chief new ventures officer in 2013.
"ecoATM is a compelling business that delivers a strong value
proposition for consumers and leverages Outerwall's strengths in
networked self-service kiosks in the retail environment," said
Di Valerio. "With Maria's leadership
skills and experience in growing businesses, we're confident in her
ability to scale the ecoATM business."
About Maria Stipp
Stipp brings more than 20 years of sales and senior management
experience to her role at Outerwall's ecoATM. Her breadth of
experience spans the video game and consumer packaged goods
industries, where she led global teams responsible for marketing,
finance sales, human resources and franchise development. Her
diverse background includes sales and leadership roles at
Activision, Vivendi Universal Games, Miller Brewing Company and
Kellogg Sales Company. Stipp holds a bachelor's degree in Business
Administration from the University of
Iowa, and has completed several training courses on finance
leadership and managing and training people at the Kellogg School
of Management in Chicago and
Cornell University.
About Outerwall Inc.
Outerwall Inc. (Nasdaq: OUTR) has more than 20 years of
experience creating some of the most profitable spaces for their
retail partners. The company mission is to create a better everyday
by delivering breakthrough kiosk experiences that delight consumers
and generate revenue for retailers. As the company that brought
consumers Redbox® entertainment, Coinstar® money services, and
ecoATM® electronics recycling kiosks, Outerwall is
leading the next generation of automated retail and paving the way
for inventive, scalable businesses. Outerwall™ kiosks are in
neighborhood grocery stores, drug stores, mass merchants, malls,
and other retail locations in the United
States, Canada, Puerto Rico, the United Kingdom,
and Ireland. Learn more at www.outerwall.com.
Safe Harbor for Forward-Looking Statements
Certain
statements in this press release are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. The words "believe," "estimate," "expect," "intend,"
"will," "anticipate," "goals," variations of such words, and
similar expressions identify forward-looking statements, but their
absence does not mean that the statement is not forward-looking.
The forward-looking statements in this release include statements
regarding leadership transitions, timing and integration of such
leadership changes and Outerwall Inc.'s anticipated growth and
future operating results. Forward-looking statements are not
guarantees of future performance and actual results may vary
materially from the results expressed or implied in such
statements. Differences may result from actions taken by Outerwall
Inc. or its subsidiaries, as well as from risks and uncertainties
beyond Outerwall Inc.'s control. Such risks and uncertainties
include, but are not limited to,
- competition from other entertainment providers,
- individual personnel decisions,
- the ability to achieve the strategic and financial objectives
for our entry into new businesses, including ecoATM, SAMPLEit and
Redbox Instant™ by Verizon,
- our ability to complete the tender offer, the occurrence of any
conditions to completing the tender offer, and our decision to
waive the occurrence of any condition to completing the tender
offer,
- our ability to repurchase stock and the availability of an open
trading window,
- the achievement of anticipated cost savings and tax
benefits,
- results of our restructuring and cost initiatives, including
discontinuation of affected new ventures and workforce
reduction,
- the termination, non-renewal or renegotiation on materially
adverse terms of our contracts with our significant retailers and
suppliers,
- payment of increased fees to retailers, suppliers and other
third-party providers, including financial service providers,
- the timing of new DVD releases and the inability to
receive delivery of DVDs on the date of their initial release to
the general public, or shortly thereafter, or in sufficient
quantity, for home entertainment viewing,
- the effective management of our content library,
- the ability to attract new retailers, penetrate new markets and
distribution channels and react to changing consumer demands,
- the ability to adequately protect our intellectual property,
and
- the application of substantial federal, state, local and
foreign laws and regulations specific to our business.
The foregoing list of risks and uncertainties is
illustrative, but by no means exhaustive. For more information on
factors that may affect future performance, please review "Risk
Factors" described in our most recent Annual Report on Form 10-K
filed with the Securities and Exchange Commission and other
documents filed therewith. These forward-looking statements reflect
Outerwall Inc.'s expectations as of the date of this press release.
Outerwall Inc. undertakes no obligation to update the information
provided herein.
SOURCE Outerwall Inc.