Catalina Marketing Names Frederick Beinecke Chairman and Michael O'Brien Interim CEO
November 03 2003 - 8:33AM
PR Newswire (US)
Catalina Marketing Names Frederick Beinecke Chairman and Michael
O'Brien Interim CEO ST. PETERSBURG, Fla., Nov. 3 /PRNewswire/ --
Catalina Marketing Corporation today announced the resignation of
Daniel D. Granger as Chairman and Chief Executive Officer.
Catalina's Board of Directors named Michael R. O'Brien, one of the
company's founders and a former Chairman and Chief Executive
Officer of the company, as interim Chief Executive Officer.
Frederick W. Beinecke was named Chairman of the Board of Directors.
The resignation and new appointments are effective immediately.
Frederick Beinecke will be responsible for guiding the company's
strategy and its relationships with investors. Mr. Beinecke has
been a director of Catalina Marketing for 15 of the past 20 years.
In addition, he and certain members of his family are significant
shareholders of the company. "While we are pleased with many
aspects of Catalina Marketing's performance, the Board of Directors
has concluded that the company's short and long-term performance,
as well as long-term shareholder value, will benefit from new
leadership," stated Mr. Beinecke. "With that in mind, the Board has
accepted Dan's resignation." Mr. O'Brien will lead the company's
senior management team as interim Chief Executive Officer and will
have overall responsibility for the company's day-to-day
operations. "Mike O'Brien has extensive knowledge about the company
and its businesses, as well as the confidence of our customers,
employees and investors," said Mr. Beinecke. "Mr. O'Brien views
this as an interim role and will not be a candidate for the
permanent position." Mr. O'Brien said, "I look forward to working
with Catalina Marketing's strong management and employee team to
build on the company's foundation and begin the process of moving
the company to its next phase of growth." The company previously
announced a search for a new Chief Operating Officer. Instead, the
Board of Directors has instructed Spencer Stuart to seek candidates
for the Chief Executive Officer position. "Dan's departure is not
related to the issues surrounding Catalina's financial reporting.
He has made very significant contributions to Catalina during his
16 years with the company and was instrumental in establishing and
building our marketing and sales functions. Additionally, Dan has
overseen significant growth in his five years as CEO," said Mr.
Beinecke. "We extend our sincere gratitude for his many
contributions to Catalina." Based in St. Petersburg, Fla., Catalina
Marketing Corporation (http://www.catalinamarketing.com/) was
founded 20 years ago based on the premise that targeting
communications based on actual purchase behavior would generate
more effective consumer response. Today, Catalina Marketing
combines unparalleled insight into consumer behavior with multiple
consumer access vehicles, reaching consumers at home, in-store and
online. This combination of insight and access provides marketers
with the ability to execute behavior-based marketing programs,
ensuring that the right consumer receives the right message at
exactly the right time. Through its six operating divisions,
Catalina Marketing offers an array of behavior-based promotional
messaging, product sampling, loyalty programs, direct to patient
information and market research services. Personally identifiable
data that may be collected from the company's targeted marketing
programs, as well as its research programs, are never sold or given
to any outside party without the express permission of the
consumer. Certain statements in the preceding paragraphs are
forward looking, and actual results may differ materially.
Statements not based on historic facts involve risks and
uncertainties, including, but not limited to, the changing market
for promotional activities, especially as it relates to policies
and programs of packaged goods manufacturers for the issuance of
certain product coupons, the effect of economic and competitive
conditions and seasonal variations, actual promotional activities
and programs with the company's customers, the pace of installation
of the company's store network, the success of new services and
businesses and the pace of their implementation, and the company's
ability to maintain favorable client relationships. DATASOURCE:
Catalina Marketing Corporation CONTACT: Christopher W. Wolf,
Executive Vice President and Chief Financial Officer,
+1-727-579-5218, or Joanne Freiberger, Vice President, Finance,
+1-727-579-5116, or Media - Susan Gear, Executive Director,
Marketing, +1-727-579-5452, all of Catalina Marketing Corporation
Web site: http://www.catalinamarketing.com/
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