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Outerwall Announces New Redbox President And Leadership Transitions For Coinstar And EcoATM

Stocks in this article: OUTR

BELLEVUE, Wash., Feb. 6, 2014 /PRNewswire/ -- Outerwall Inc. (Nasdaq: OUTR) today announced three executive leadership moves within its Redbox, Coinstar and ecoATM businesses. Mark Horak, most recently president the Americas at Warner Bros. Home Entertainment, Inc., plans to join Redbox as its new president on March 17.  In addition, two seasoned executives and company leaders at Outerwall will fill top leadership roles at Coinstar and ecoATM. Coinstar operations executive James H. Gaherity will transition to president of Coinstar as Mike Skinner has decided to leave the company for another opportunity after nine years of service. Maria Stipp, having served as chief new ventures officer and concurrently interim president of ecoATM since October 2013, has been appointed president of the ecoATM business. (Logo: http://photos.prnewswire.com/prnh/20130701/AQ41388LOGO)

Redbox Horak will bring more than 30 years of media, entertainment and marketing expertise to Redbox. His work as a Hollywood studio executive, experience growing DVD, Blu-ray, video game and digital sales in North America and marketing high-profile film titles, positions Horak well to drive continued growth and profitability at Redbox.  

"We're excited to have an individual as talented and experienced as Mark Horak join Redbox," said J. Scott Di Valerio, chief executive officer of Outerwall Inc. "Mark's background and relationships throughout the entertainment and media industries will prove extremely valuable to Redbox as we work to make Redbox America's number one choice for movies.  Mark understands both the physical and digital aspects of the business and will help us continue to carve out our path to support the home entertainment ecosystem driving value for consumers, studios, retail partners and our company."

"Redbox is an industry innovator and a beloved brand that stands for convenient entertainment at a value," said Mark Horak, incoming president, Redbox. "As the media landscape evolves, it's an exciting time to work on the next phase of the business with an emphasis on driving growth for Redbox."

About Mark Horak Most recently serving as president the Americas at Warner Bros. Home Entertainment, Horak's responsibilities included managing his region's P&L for the physical and digital video and video game business. He began his career with Warner Bros. in various executive-level marketing roles where he rose to executive vice president and general manager for Canada, Latin America, Australia and Asia, and then executive vice president and general manager of Worldwide Operations and New Packaged Media. Previously, he served in marketing positions with Dole Packaged Foods, StarKist Seafood Company and Nabisco Brands, Inc. Horak earned a bachelor's degree in Business Administration from Loyola Marymount University and master's degree in Business Administration from The Wharton School at the University of Pennsylvania.

Coinstar

A 10-year Outerwall executive, Gaherity plans to transition to president of the Coinstar business following Mike Skinner's decision to resign. Gaherity currently serves as the head of Coinstar's worldwide operations. Skinner will remain at Coinstar through March 10, 2014, to ensure a smooth transition. 

"On behalf of the organization, I'd like to thank Mike for his leadership and many contributions as he steps down after nine years of service and leading Coinstar to its highest annual revenue in 2013," said Di Valerio. "We wish Mike all the best in his next endeavor and appreciate his help ensuring a smooth transition. We're fortunate to have a strong successor and confident in Coinstar with Jim taking the helm to drive continued profitability in this segment of Outerwall's business."     

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