BELLEVUE, Wash., July 30, 2015 /PRNewswire/ -- Outerwall
Inc. (Nasdaq: OUTR) today announced that its Board of
Directors appointed Erik E. Prusch
as chief executive officer and to its Board, effective July 31, 2015. Prusch succeeds Nora M. Denzel, a member of the Outerwall Board,
who served as interim CEO beginning January
18, 2015. Denzel will remain a director on the Outerwall
Board. The company's announcement follows an extensive search
conducted by the Board of Directors, in partnership with an
executive search firm, to identify a new CEO.
Logo -
http://photos.prnewswire.com/prnh/20130701/AQ41388LOGO
Prusch joins Outerwall with more than 25 years of experience
including successfully leading diverse technology and
consumer-facing businesses. During his career, Prusch has a long
history of driving profitable growth, innovating new products and
services and creating shareholder value. Prusch served as president
and chief executive officer of Clearwire, a U.S. provider of 4G
wireless broadband services that was acquired by Sprint in 2013.
Earlier in his career, he served in a variety of leadership
positions, including at Borland Software, Intuit's TurboTax
division, Identix, Gateway Computers, Koch Industries and
PepsiCo.
"On behalf of the Board, I am thrilled to welcome Erik to
Outerwall," said Nelson Chan, chair
of Outerwall's Board of Directors. "After careful and deliberate
consideration of a wide range of highly qualified candidates, our
Board unanimously determined that Erik is best suited to lead
Outerwall forward. Erik is a proven executive with significant
finance, operations and leadership expertise having led companies
to successfully innovate, adapt to changing marketplaces and
maximize profitability."
Chan continued, "Erik is aligned with our disciplined and
balanced approach to driving revenue growth through prudent
investments and continuing to improve operational efficiencies
throughout the organization. We look forward to working closely
with Erik to continue driving profitable growth as we develop,
scale and manage our businesses."
Prusch said, "I am honored to join Outerwall as its next chief
executive officer. With its market-leading automated retail
businesses, dedicated employees and strong consumer and retailer
relationships, Outerwall is uniquely positioned to continue
delivering excellent value to consumers, partners and shareholders.
I look forward to leading Outerwall to future success."
Chan added, "On behalf of everyone at Outerwall, I want to thank
Nora for serving as the company's interim chief executive officer
during the past six months. Nora helped drive strong performance
across the organization. We are grateful that Nora assumed this
role at such an important time, and we look forward to continuing
to benefit from her expertise through her ongoing service as a
Board member."
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 delivers 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 Outerwall Inc.'s anticipated growth
and future operating results, including 2015 full year 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,
- the ability to achieve the strategic and financial
objectives for our entry into new businesses, including ecoATM and
SAMPLEit,
- our ability to repurchase stock and the availability of an
open trading window,
- our declaration and payment of dividends, including our
board's discretion to change the dividend policy,
- 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 timing of the release slate and the relative
attractiveness of titles in a particular quarter or year,
- the ability to attract new retailers, penetrate new markets
and distribution channels and react to changing consumer
demands,
- loss of key personnel or the inability of replacements to
quickly and successfully perform in those new roles,
- the ability to generate sufficient cash flow to timely and
fully service indebtedness and adhere to certain covenants and
restrictions,
- 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
and any subsequent Quarterly Reports on Form 10-Q filed with the
Securities and Exchange Commission. 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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/outerwall-appoints-erik-prusch-chief-executive-officer-300121532.html
SOURCE Outerwall Inc.