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Coinstar, Inc. Announces Gregg Kaplan's Planned Departure In March 2013

Stocks in this article: CSTR

BELLEVUE, Wash., Aug. 13, 2012 /PRNewswire/ --Coinstar, Inc. (Nasdaq: CSTR), today announced that Gregg Kaplan, president and chief operating officer of Coinstar, Inc. and founder and interim president of Redbox Automated Retail, LLC, Coinstar's wholly-owned subsidiary, will be leaving the company in order to pursue new opportunities.  Kaplan will remain president and chief operating officer of Coinstar through March 31, 2013, and will continue to oversee Coinstar's new ventures and new business development while focusing on transitioning with the new Redbox president.    

Coinstar also announced today that Anne Saunders, most recently executive vice president and chief marketing officer at Knowledge Universe where she was responsible for business strategy and marketing functions, has been appointed president of Redbox, effective August 27, 2012.  Saunders brings to Redbox extensive executive experience across a variety of industries, including past senior leadership roles at Bank of America, Starbucks and AT&T.  As president of Redbox, Saunders will lead the entire Redbox organization, reporting to Coinstar's Chief Executive Officer Paul Davis.

"On behalf of Coinstar's Board of Directors and the entire organization, I want to thank Gregg for his countless contributions to the company over the last decade," said Davis.  "Gregg has been instrumental in not only the success of Redbox but also in all facets of our business.  His decision to leave the company next year was made with much thought and consideration, and we fully appreciate and respect his desire to embark on his next venture.  We appreciate that Gregg will remain with us for the transition, and we look forward to continuing to benefit from his wisdom and energy.  Gregg is a true entrepreneur and has left an indelible imprint on everyone here, and we wish him only the best in the future."  

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