ValueVision Media Appoints Landel C. Hobbs and Lowell W. Robinson to Board of Directors
March 14 2014 - 7:03AM
Marketwired
ValueVision Media Appoints Landel C. Hobbs and Lowell W. Robinson
to Board of Directors
MINNEAPOLIS, MN--(Marketwired - Mar 14, 2014) -
ValueVision Media, Inc. (NASDAQ: VVTV) ("ValueVision"), a
multichannel electronic retailer via TV, Internet and mobile, today
announced the appointment of Landel C. Hobbs and Lowell W. Robinson
to its Board of Directors, effective immediately. With the
appointment of Messrs. Hobbs and Robinson, the ValueVision Board
now consists of eight directors, seven of whom are independent.
"We are very pleased to welcome two extremely accomplished and
independent directors to ValueVision's Board," said Randy Ronning,
ValueVision's Chairman. "Both Landel and Lowell are dynamic,
change-oriented individuals with excellent track records of
performance in fields that are highly relevant to our business.
Landel's deep operating and management experience in cable and
Lowell's broad based marketing and strategic background, as well as
his vast public company Board experience, will complement our
existing Board's skills and further support our successful
execution of ValueVision's strategy. On behalf of the Board, we
look forward to working closely with Landel and Lowell as we
continue to build value for our shareholders."
Landel C. Hobbs brings 18 years of experience in the media and
telecommunications sectors, including financial, strategic and
operational leadership roles. Most recently, Mr. Hobbs was Chief
Operating Officer of Time Warner Cable, where he led a major
operational reorganization. While at Time Warner, Mr. Hobbs
relaunched the company's commercial line of business in 2009, and
was responsible for Time Warner Cable's rebranding efforts and its
creation of proprietary customer segmentation, pricing architecture
and yield management. Mr. Hobbs will serve on the Audit Committee
and the Nominating and Corporate Governance Committee.
Lowell W. Robinson brings extensive public company experience
and a deep understanding of the Internet, media, consumer and
retail industries. In his career, Mr. Robinson has held senior
global financial leadership positions at Citigroup Inc. and Kraft
Foods, and has been Chief Financial Officer of several public
companies including ADVO, HotJobs.com and MIVA, and has provided
transformational management at both board and operational levels.
He has also served on a variety of public company boards, including
The Jones Group, International Wire Group, Inc., and Edison Schools
Inc. In his capacity as a public company director, he has
served as chair of compensation and audit committees. Mr. Robinson
is also a member of the Smithsonian Libraries Advisory Board and
the Board of the Metropolitan Opera Guild. Mr. Robinson will serve
on the Finance Committee and the Human Resources and Compensation
Committee.
Messrs. Hobbs and Robinson are expected to stand for re-election
at ValueVision's 2014 Annual Meeting.
About Landel C. Hobbs Mr. Hobbs is currently Chief Executive
Officer of LCH Enterprises LLC, a consulting firm that operates in
the broader telecommunications and media space. Mr. Hobbs
previously served as Chief Operating Officer of Time Warner Cable
("TWC") from 2005 until the end of 2010 and was Chief Financial
Officer of TWC from 2001 until 2005. He served as Vice President of
Financial Analysis and Operations Support for all divisions of AOL
Time Warner from September 2000 until October 2001. Mr. Hobbs also
served in various positions, including Senior Vice President,
Controller and Chief Accounting Officer, of Turner Broadcasting
System, Inc. from 1993 until 2000. Before joining Turner in 1993,
he served as Senior Vice President and Audit Director of Banc One
Illinois Corporation and Senior Manager with KPMG Peat Marwick. He
is Lead Director of Allconnect and a current Trustee of the
National 4H Council and The Dyslexia Resource Trust. He was
previously Chair and a Director of CSPAN, a Trustee of Women in
Cable Television (WICT), and a Broadcasting and Cable Hall of Fame
Member. Mr. Hobbs earned a Bachelor of Business Administration from
Angelo State University.
About Lowell W. Robinson Mr. Robinson served as the Chief
Financial Officer and Chief Operating Officer of MIVA, Inc., an
online advertising network, from August 2007 through March 2009. He
joined MIVA in 2006 as Chief Financial Officer and Chief
Administrative Officer. He had previously served as the President
of LWR Advisors from 2002 to 2006 and as the Chief Financial
Officer and Chief Administrative Officer at HotJobs.com from 2000
to 2002. He previously held senior financial positions at Advo,
Inc., Citigroup Inc. and Kraft Foods, Inc. Mr. Robinson also serves
as a director of The Jones Group and has served on the Board of
Directors of Local.com Corporation from 2011 to 2012, the Board of
Advisors for the University of Wisconsin School of Business from
2006 to 2010, the Board of Directors of International Wire Group,
Inc., from 2003 to 2009, and the Board of Directors of Independent
Wireless One, Diversified Investment Advisors and Edison Schools
Inc. He is a member of the Smithsonian Libraries Advisory Board and
the Board of the Metropolitan Opera Guild. Mr. Robinson earned a
Bachelor of Arts in Economics from the University of Wisconsin and
a Master of Business Administration from Harvard Business
School.
About ValueVision Media
ValueVision Media, Inc. is a multichannel retailer, operating as
ShopHQ, that enables customers to shop and interact via TV, phone,
Internet and mobile in the merchandise categories of Home &
Consumer Electronics, Beauty, Health & Fitness, Fashion &
Accessories, and Jewelry & Watches. ValueVision's television
network reaches over 86 million cable and satellite homes and is
also available nationwide via live streaming at www.shophq.com.
Please visit www.shophq.com/ir for more investor information.
Forward-Looking Information
This release may contain certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. 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; 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; the market demand for
television station sales; 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; and our ability to obtain and retain key executives
and employees. More detailed information about those factors is set
forth in the Company's filings with the Securities and Exchange
Commission, including the Company's 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.
The Company is under no obligation (and expressly disclaims any
such obligation) to update or alter its forward-looking statements
whether as a result of new information, future events or
otherwise.
Important Information
This release may be deemed to be solicitation material in
respect of the solicitation of proxies from shareholders in
connection with one or more meetings of the Company's shareholders.
The Company will file with the Securities and Exchange Commission
("SEC") and provide to its shareholders a proxy statement and a
WHITE proxy card in connection with any such shareholder meeting.
The Company, its directors and certain of its executive officers
and employees may be deemed to be participants in the solicitation
of proxies from shareholders in connection with any such
shareholder meeting. Information concerning the interests of these
directors and executive officers in connection with the matters to
be voted on at any such meeting will be included in the proxy
statement filed by the Company with the SEC in connection with any
such meeting. In addition, the Company files annual, quarterly and
special reports, proxy and information statements, and other
information with the SEC. Any proxy statement, any other relevant
documents and any other material filed with the SEC concerning the
Company will be, when filed, available free of charge at the SEC
website at http://www.sec.gov. SHAREHOLDERS ARE URGED TO READ
CAREFULLY ANY SUCH PROXY STATEMENT FILED BY THE COMPANY AND ANY
OTHER RELEVANT DOCUMENTS FILED WHEN THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION WITH
RESPECT TO PARTICIPANTS.
Contacts Media: Dawn Zaremba ShopHQ dzaremba@shophq.com
(952) 943-6043 O
Joele Frank / Tim Lynch / Jed Repko Joele Frank, Wilkinson Brimmer
Katcher (212) 355-4449
Investors: David Collins / Eric Lentini Catalyst Global LLC
vvtv@catalyst-ir.com (212) 924-9800 O
(917) 734-0339 M
Arthur Crozier / Scott Winter / Jonathan Salzberger Innisfree
M&A Incorporated (212) 750-5833
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