Coastal Appoints Neel Grover to Board of Directors
October 15 2012 - 9:00AM
Coastal Contacts Inc. (TSX:COA) (Stockholm:COA) ("Coastal.com",
"Coastal") one of the world's largest online retailers of
eyeglasses and contact lenses announced today that it has appointed
Mr. Neel Grover to Coastal's Board of Directors.
Mr. Grover served as the Chief Executive Officer and President
of Rakuten Buy.com (formerly Buy.com) from May, 2006 until his
departure in September, 2012 after having served as President
and COO from September, 2003. Buy.com was acquired by Rakuten Inc.,
in May, 2010. Mr. Grover remains a Board Director of Rakuten
Buy.com and Rakuten U.S.A. Mr. Grover also has experience with
ThinkTank Holdings, a private equity management company, and the
law firms of Brobeck, Phleger & Harrison LLP and Jones, Day,
Reavis & Pogue.
Mr. Grover received his J.D., cum laude, from the University of
San Diego School of Law and his B.A. in Economics from the
University of California, Irvine, and resides in Laguna Beach
California.
"We are delighted to have a seasoned e-commerce and social
commerce leader with Neel's deep U.S. and international experience
join Coastal's Board at this important time in the Company's
development," stated Roger Hardy, Coastal's Founder and CEO. "His
knowledge developing the U.S. market for Rakuten Buy.com will be
invaluable as Coastal focuses on accelerating its rapidly growing
eyewear business in this market."
Mr. Tushar Shah, Managing Partner of Kinderhook, LP has resigned
his position on the Board. The Company thanked Mr. Shah for his
time on the Board.
About Coastal Contacts Inc.
Coastal Contacts empowers customers to easily browse, try on and
buy eyewear — with the goal of saving time, money and sanity. With
every pair of qualifying frames purchased, Coastal Contacts donates
a pair to someone in need through its Change the View project.
Founded in 2000, Coastal Contacts designs, produces and distributes
among the largest selection of eyeglasses and contact lenses on the
Internet, including a unique combination of designer eyeglasses,
contact lenses, sunglasses, and vision care
accessories. Coastal Contacts serves customers in more than
150 countries through the Coastal Contacts family of websites
including: Coastal.com, ClearlyContacts.ca, Lensway.com,
Lensway.co.uk, Lensway.se, Lensway.com.br, ClearlyContacts.com.au,
ClearlyContacts.co.nz, Contactsan.com, and Coastallens.com.
Forward Looking Statements
All statements made in this news release, other than statements
of historical fact, are forward-looking statements. The words
"may", "would", "could", "will", "intend", "plan", "anticipate",
"believe", "estimate", "expect", "goal", "target", "should,"
"likely," "potential," "continue," "project," "forecast,"
"prospects," and similar expressions typically are used to identify
forward-looking statements.
Forward-looking statements are based on the then-current
expectations, beliefs, assumptions, estimates and forecasts about
our business and the industry and markets in which we operate.
Forward-looking statements are not guarantees of future performance
and involve risks, uncertainties and assumptions which are
difficult to predict.
Persons reading this news release are cautioned that
forward-looking statements or information are only predictions, and
that our actual future results or performance may be materially
different due to a number of factors. Reference should also be made
to the section entitled "Risk Factors" contained in our most
recently filed Annual Information Form dated December 14, 2011 for
a detailed description of the risks and uncertainties relating to
our business. These risks, as well as others, could cause actual
results and events to vary significantly. Accordingly, readers
should not place undue reliance on forward-looking statements and
information, which are qualified in their entirety by this
cautionary statement. These forward-looking statements are made as
of the date of this news release and we expressly disclaim any
intent or obligation to update these forward-looking statements,
unless we specifically state otherwise and except as required by
applicable law.
CONTACT: For Further Information:
Terry Vanderkruyk
Vice President, Corporate Development
Coastal Contacts Inc.
604.676.4498
terryv@coastal.com
or
Liolios Group Inc.
Scott Liolios or Cody Slach
Tel 949.574.3860
COA@liolios.com