Zomax Announces The Appointment of Richard D. Barnes as Chief Financial Officer
August 09 2005 - 4:05PM
PR Newswire (US)
Mr. Barnes Brings More Than 25 Years of Financial Management
Expertise to Zomax MINNEAPOLIS, MN, Aug. 9, 2005
/PRNewswire-FirstCall/ -- Zomax Incorporated (NASDAQ:ZOMX), today
announced that it is appointing Richard D. Barnes, 48, as its new
Executive Vice President and Chief Financial Officer effective
August 22, 2005. Mr. Barnes brings more than 25 years of financial
and operational management experience to Zomax. Mr. Barnes was most
recently a member of the ValueVision Media, Inc. (NASDAQ:VVTV)
executive team. ValueVision is a marketing company that markets a
variety of products directly through various electronic media under
the ShopNBC brand name. From 1999 through 2001, Mr. Barnes served
as Chief Financial Officer and from 2001 served in the dual role of
Chief Financial Officer and Chief Operating Officer. He reported to
the Chief Executive Officer and was responsible for a variety of
functions including all aspects of financial management,
information systems, operations, business development and investor
relations. His responsibilities also included managing a staff of
more than 400 employees. "Dick has a wealth of financial management
and operational expertise, which should be highly complementary to
our executive team," said Anthony Angelini, President and CEO of
Zomax. "We believe that his public-company background and valuable
experience managing large and complex global financial
infrastructures will allow him to bring a unique and highly
relevant perspective to our management team. We are delighted to
welcome Dick to the Company and look forward to his contributions."
"I'm very excited to join the Zomax organization, particularly at a
time when the Company is embarking upon a dynamic new growth
strategy," said Mr. Barnes. "Zomax has an outstanding core of
clients, a strong balance sheet and the financial flexibility to
execute its long-term strategy. I look forward to helping lead the
Company into its next stage of growth." Prior to joining
ValueVision Media, Mr. Barnes was a member of the financial
management team at Bell Canada, a division of BCE, Inc., Canada's
leading provider of telecommunications and related services. At
Bell Canada, Mr. Barnes held a variety of positions of escalating
responsibility and was, just prior to his departure from Bell
Canada, its Senior Vice President of Operations and Financial
Management. In this role, Mr. Barnes reported directly to the Chief
Financial Officer and helped manage the financial operations of the
organization, which, at the time, had annual revenues in excess of
$10 billion Canadian dollars. During his tenure with Bell Canada,
he successfully worked with senior management to implement a
necessary workforce and expense reduction that resulted in
significant cost savings and spearheaded the migration of the
financial management systems to SAP. Before his tenure with Bell
Canada, Mr. Barnes also successively held the positions of Vice
President, Brands Finance and Vice President and Controller at The
Pillsbury Corporation, a Diageo PLC company with $5.7 billion in
global annual revenues. In his final position as Vice President and
Controller, Mr. Barnes led a staff of 80 responsible for accounting
and reporting, general financial controls and corporate financial
analysis of the company, supporting the CEO and other members of
senior management. Before his tenure at Pillsbury, Mr. Barnes spent
12 years with Bristol-Myers Squibb in a variety of financial
management roles of escalating responsibility including various
divisional chief financial officer roles, ultimately serving as the
Vice President, Finance and General Manager - Canada of
Bristol-Myers Squibb's Drackett division. Mr. Barnes began his
career as a financial analyst for Procter & Gamble. Mr. Barnes
earned a Bachelor of Commerce in Finance, Accounting and Human
Relations from McMaster University in Hamilton, Ontario, Canada and
an MBA from York University in Toronto, Ontario, Canada. About
Zomax: Zomax helps companies more efficiently bring their products
and content to market worldwide. Zomax' solutions enhance the
process of sourcing, production, and fulfillment through a modular
suite of supply chain services. These services include "front-end"
customer contact and e-commerce services, material management,
CD/DVD production, assembly and kitting services, JIT physical and
electronic fulfillment and returns management. Founded in 1993,
Zomax operates 11 facilities across the United States, Canada,
Mexico and Ireland. For more information on Zomax, visit
http://www.zomax.com/ or call (866) 553-9393. Safe Harbor for
Forward-Looking Statements Certain statements in this press release
relating to the Company's ability to execute on its long-term
growth strategy and the timing and impact of Mr. Barnes' addition
to the management team, are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such statements involve known and unknown risks, uncertainties and
other factors that may cause our actual results, performance or
achievements to be materially different from the results,
performance or achievements expressed or implied by the
forward-looking statements. These factors include, without
limitation, the integration of Mr. Barnes into our management team,
our ability to implement our restructuring and consolidation plans
designed to achieve cost reductions in our operations; the
potential negative impact on our customer relationships as we
implement our consolidation plans or attempt to execute pricing
strategies that are not acceptable to the market place; our ability
to accurately predict the amount of time and cost required to fully
complete our restructuring plan; our ability to retain key
employees; the changes and volatility in the personal computer
hardware and software industry, particularly with respect to the
demand for CD and DVD media, from which a significant portion of
our revenues are derived; macroeconomic factors that influence the
demand for personal computer hardware and software and the
resulting demand for our services; consolidation among our
customers or competitors, which could cause disruption in our
customer relationships or displacement of us as a services provider
to one or more customers; our ability to make the proper strategic
choices with respect to pursing profitable growth in our business;
increased competition within our industry and increased pricing
pressure from our customers; our dependence on relatively few
customers for a majority of our revenues; fluctuations in our
operating results from quarter-to-quarter, which are influenced by
many factors outside of our control, including variations in the
demand for particular services we offer or the content included in
the products we produce for our customers; the volatility of
polycarbonate prices; effects of pending litigation; and other
risks and uncertainties, including those identified and discussed
in detail under the caption "Risks and Uncertainties" in Item 1 of
our 2004 Form 10-K. We undertake no obligation to update or revise
any forward-looking statements we make in this release due to new
information or future events. Investors are advised to consult any
further disclosures we make on this subject in our filings with the
Securities and Exchange Commission, especially on Forms 10-K, 10-Q
and 8-K, in which we discuss in more detail various important
factors that could cause actual results to differ from expected or
historical results. DATASOURCE: Zomax Incorporated CONTACT: Company
Contact, Anthony Angelini, President and CEO of Zomax, Inc.,
+1-763-553-9300, or Investor Contacts, Douglas Sherk, CEO, or
Jennifer Beugelmans, Senior Vice President, both of EVC Group,
Inc., +1-415-896-6820, or Media Contact, Steve DiMattia, Senior
Vice President of EVC Group, Inc., +1-646-277-8706 Web site:
http://www.zomax.com/
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