Catalina (NYSE:POS)
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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/