Rimage Corporation (NASDAQ:RIMG), today announced that it has named Kimberly K. Nelson (43) to its Board of Directors, effective immediately. Ms. Nelson is the Executive Vice President and Chief Financial Officer of SPS Commerce, Inc., a software-as-a-service (SaaS) solution provider. Ms. Nelson will serve on Rimage’s Audit Committee and on the Governance Committee. The Company also announced that Philip D. Hotchkiss will not stand for reelection to its Board of Directors at the Company’s 2012 Annual Meeting of Shareholders in May, but will serve the remainder of his term. Mr. Hotchkiss made the decision not to stand for reelection so he could devote more time to his role as the Chief Product Officer of Get Satisfaction, an online social CRM company located in California. With the addition of Ms. Nelson, there are eight directors currently serving on the Rimage board. “Kim joins our Board with a solid background in finance and management at publicly-held technology companies,” said Sherman Black, President and CEO of Rimage. “Importantly, she brings business experience in the SaaS model, which is a new business model for Rimage but one that we expect to grow. With hands-on experience across a range of financial disciplines, including investor relations, she will be a great asset to the Board and we look forward to her contributions.” Ms. Nelson joined SPS Commerce in her current position in November 2007. Prior to that, she worked at Amazon.com in a variety of roles. She was mostly recently Finance Director, Investor Relations, since June 2005. From 2003 to 2005, she served as the Finance Director, Worldwide Application for Amazon.com’s Technology group. She joined Amazon.com in 2000 as its Finance Director, Financial Planning and Analysis from 2000 until 2003. Her experience also includes financial positions at The Pillsbury Company and Nestle USA, Inc. Ms. Nelson has a Bachelor of Science degree in finance from Babson College and a Master of Business Administration degree from the University of St. Thomas.
Shares of Rimage Corporation (Nasdaq:RIMG) were gapping down Monday morning with an open price 14.6% lower than Friday's closing price. The stock closed at $13.18 yesterday and opened today's trading at $11.25.