BELLEVUE, Wash., May 16, 2012 /PRNewswire/ -- Coinstar, Inc. today announced that Chief Executive Officer Paul Davis has been ranked fourth by Fortune magazine on its Fortune 500 List: Technology Visionaries. Davis is recognized among an esteemed group of Fortune 500 business leaders for his success in expanding the Redbox self-service movie and video game rental business from an innovative young company, to what is today an industry-disrupter and leader in movie rentals.
"On behalf of Coinstar and the Redbox leadership, I am extremely honored to be included on Fortune's list among such respected and admired visionaries," said Paul Davis, CEO of Coinstar, Inc. "I share this honor with the entire company and its unwavering commitment to continued growth and innovation. As we reimagine the retail experience, we will continue to innovate within our core businesses and develop new automated retail concepts that better meet the changing needs of consumers and society."
According to the article recently published by Fortune magazine, Davis helped steward Redbox's growth through the pending purchase of NCR Corp.'s DVD rental kiosks and the announcement of a new streaming service partnership with Verizon. Redbox's revenue for the first quarter of 2012 was $502.9 million, a 38.8 percent increase compared with the first quarter of 2011.
About Fortune 500 List: Technology Visionaries
The top ten Technology Visionaries include the most visionary leaders on this year's Fortune 500 list. The ranking of these leaders can be viewed at http://money.cnn.com/galleries/2012/fortune/1204/gallery.500-tech-visionaries.fortune/index.html.
About Coinstar, Inc.
Coinstar, Inc. (Nasdaq: CSTR) is a leading provider of automated retail solutions offering convenient services that make life easier for consumers and drive incremental traffic and revenue for retailers. The company's core automated retail businesses include the well-known Redbox® self-service movie and video game rental and Coinstar® self-service coin-counting brands. The company has approximately 36,800 DVD kiosks and 20,200 coin-counting kiosks in supermarkets, drug stores, mass merchants, financial institutions, convenience stores, and restaurants. For more information, visit http://www.coinstarinc.com/.
SOURCE Coinstar, Inc.
Marci Maule, Coinstar, Inc., +1-425-943-8277, firstname.lastname@example.org; or Rachel Gerber, MWW Group for Coinstar, Inc., +1-646-215-6889, email@example.com