BELLEVUE, Wash.--(BUSINESS WIRE)--May. 21, 2009--
Coinstar, Inc. (NASDAQ: CSTR) today announced that it has promoted
Michael J. Skinner to the position of president of Coin and E-Payment
Services, effective immediately.
Skinner, 55, joined Coinstar in 2004 and has served in leadership roles
for the Company’s E-Payment and Entertainment lines of business. Since
2008, Skinner has held the position of vice president and general
manager of Coinstar E-Payment Services where he has led the business
from a start-up to a leading supplier of e-payment services, acquiring
and integrating five companies and doubling the company’s retail
locations.
Before joining Coinstar, Skinner founded and operated Elkhorn
Consulting, a firm that provided strategic and business development
services to early stage and emerging growth companies including
DailyShopper (acquired by CrossMedia), Impli Media (acquired by PRN) and
Flexcar (merged with ZipCar). Prior to this role, Skinner served as
executive vice president of sales and marketing for PIA Merchandising
Inc., a retail merchandising company, from 1995 to 1998, and held the
position of president and chief executive officer of Winterbrook
Beverages from 1992 to 1995. Earlier in his career, he served in sales,
marketing and product management roles with Carnation Company (Nestle)
and National Beverage Corp.
Gregg Kaplan, president and chief operating officer of Coinstar, Inc.
said, "Mike is an extremely talented and focused executive with 30 years
of experience building high-growth businesses across a wide range of
retail products and industry segments. His strong leadership abilities
and insights have been integral to Coinstar's success and his new
appointment reflects his ability to assume increasing levels of
responsibility. He is ideally suited to lead our organization in this
capacity."
As part of the management transition, Alex Camara, who has led the
Company’s Coin and Entertainment businesses, has resigned to accept a
position outside Coinstar.
Kaplan continued, "On behalf of the entire board of directors and
executive team, I would also like to thank Alex for providing his
leadership to the Company over the years. We appreciate what he has
accomplished at Coinstar and we wish him well in the future."
About Coinstar, Inc.
Coinstar, Inc. (NASDAQ:CSTR) is a multi-national company offering a
range of 4th Wall® solutions for the retailers' front of
store consisting of self-service coin counting, DVD rental, money
transfer, electronic payment solutions, and entertainment services. The
Company's products and services can be found at more than 90,000 points
of presence including supermarkets, drug stores, mass merchants,
financial institutions, convenience stores, restaurants and money
transfer agent locations. For more information, visit www.coinstar.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,"
"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 management
changes. Forward-looking statements are not guarantees of future
performance which may vary materially from the results expressed or
implied in such statements. Differences may result from actions taken by
Coinstar, Inc., as well as from risks and uncertainties beyond Coinstar,
Inc.'s control. Such risks and uncertainties include, but are not
limited to, the termination, non-renewal or renegotiation on materially
adverse terms of our contracts with our significant retailers, payment
of increased service fees to retailers, the ability to attract new
retailers, penetrate new markets and distribution channels, cross-sell
our products and services and react to changing consumer demands, the
ability to achieve the strategic and financial objectives for our entry
into or expansion of new businesses, 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 subsequent Quarterly Reports on Form 10-Q
filed with the Securities and Exchange Commission. These forward-looking
statements reflect Coinstar, Inc.'s expectations as of the date of this
release. Coinstar, Inc. undertakes no obligation to update the
information provided herein.
Source: Coinstar, Inc.
Coinstar, Inc.
Marci Maule, 425-943-8277
mmaule@coinstar.com
