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Imation Names Theodore Bunting, Jr. And William LaPerch To Board Of Directors

Stocks in this article: IMN

Imation Corp. (NYSE: IMN), a global scalable storage and data security company, today announced that Theodore Bunting, Jr. and William LaPerch have been elected to Imation’s Board of Directors.

Bunting is currently group president, utility operations, for Entergy Corporation, an integrated energy company engaged in electric power production and retail distribution operations, a position he has held since June 2012. Bunting has previously held numerous executive positions within Entergy Corporation and its subsidiaries, including senior vice president and chief accounting officer. He is also a certified public accountant.

LaPerch was chief executive officer, president and director of AboveNet Inc., a leading provider of high bandwidth connectivity solutions for business and carriers, from January 2004 to July 2012. Prior to AboveNet, LaPerch held executive management positions at MCI telecommunications, a global business and residential communications company, and at NYNEX Corporation, a regional telephone holding company.

“We are pleased to add Theo Bunting and Bill LaPerch to Imation’s Board of Directors,” said L. White Matthews, III, Non-Executive Chairman of the Board. “Theo brings deep experience as a financial leader dealing with complex financial and accounting matters for public companies, as well as broad managerial experience. Bill has extensive experience in operations and strategic planning with start-ups, turnarounds, and other rapid-change environments in the telecommunications and cloud infrastructure industries. We are confident that both Theo and Bill will make considerable contributions to our Board.”

Bunting and LaPerch were elected as Class II members, effective November 8, 2012, for terms expiring at the annual meeting of shareholders to be held in 2013. Bunting will serve on the Audit & Finance and Compensation Committees of the Board of Directors. LaPerch will also serve on the Audit & Finance and Compensation Committees.

Imation also announced that effective November 6, 2012, Glen A. Taylor resigned from Imation’s Board of Directors. Taylor, chairman of Taylor Corporation and owner of the Minnesota Timberwolves (NBA) and Minnesota Lynx (WNBA), had been a director of Imation since May 2000. He served as a member of the Company’s Compensation Committee and Nominating & Governance Committee.

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