Blockbuster Adds Cable and Entertainment Leader Kathleen Dore to Slate of Board Nominees
Industry Innovator Grew Bravo's Subscriber Base to 68 Million
DALLAS, May 21 /PRNewswire-FirstCall/ -- Blockbuster Inc. ( BBI, BBI.B), a leading global provider of media entertainment, today announced that its Board of Directors has nominated Kathleen Dore for election to the Blockbuster Board of Directors at the Company's 2010 Annual Stockholders' Meeting, scheduled to occur on June 24, 2010 in Dallas, Texas. Dore has been nominated to fill the seat to be vacated by James Crystal, who has announced that he will not stand for re-election at the meeting.
"We are delighted to nominate Kathleen to the Blockbuster Board of Directors and believe her leadership experience in the media and entertainment industry will support the transformation of Blockbuster into the leading multi-channel provider of media entertainment," said James W. Keyes, Chairman and Chief Executive Officer. "Kathleen has a proven history of developing effective strategic partnerships and she has demonstrated success in building profitable subscriber bases."
Dore is a veteran cable television executive with over three decades of media and entertainment industry leadership experience. She most recently served as President, Broadcasting, at Canwest Media, Inc., a Canadian media company with a portfolio of world-class brands spanning across multiple media platforms.
Prior to joining Canwest, Dore served in various roles at New York-based Rainbow Media, including President, Entertainment Services, for cable networks AMC (American Movie Classics), IFC (Independent Film Channel) and WE (Women's Entertainment). Dore also was responsible for the growth and expansion of Bravo, growing its subscriber base from 500,000 to 68 million during her tenure as President from 1996 until 2002. She currently serves as Senior Advisor to Proteus International, Inc., a management consulting firm specializing in organizational vision, strategy and leadership. Dore currently serves on the board of Canadian Film Center, University of Iowa Foundation, and Tippie College of Business, University of Iowa.
As previously reported, Blockbuster also nominated Jay Fitzsimmons for election to the Board to fill the seat to be vacated by Robert Bowman, who will not stand for re-election. From 1994 to 2007, Fitzsimmons served in senior financial roles with Wal-Mart Stores, Inc., including Senior Vice President, Finance and Treasurer, where he managed strategic planning, the Board of Directors Finance Committee, financial operations and corporate mergers and acquisitions. During Fitzsimmons' tenure with Wal-Mart Stores, the company became the world's largest retailer and an unparalleled leader in supply chain efficiency.
Fitzsimmons also served as Chief Financial Officer for Wendy's International, Inc., bringing extensive experience with another multi-billion dollar company and a broad store base to Blockbuster. In addition, Fitzsimmons has impressive corporate director credentials, having previously served as a member of the board and audit committee of the Federal Reserve Board of St. Louis and currently serving as a board and audit committee Member of Mexican Restaurants Inc. and an advisory board member of The University of Chicago's Graduate School of Business.
"Jay's retail and financial experience for the world's largest retailer make him an ideal candidate to join our Board," said Keyes. "Blockbuster will benefit from his financial acumen and his expertise in organizational efficiency."
In announcing his decision to not stand for re-election, Jim Crystal said, "I would like to thank the Board and management of Blockbuster for their support during my tenure on the Board. I wish my colleagues on the Board and the management all the best in continuing to build a leading and innovative company at Blockbuster. My departure from the Board will coincide with the nomination of two new Board candidates who will bring considerable industry experience and strength to the company's leadership team."
"On behalf of Blockbuster, our Board of Directors and key stakeholders, I deeply appreciate the dedicated service that Jim has provided as a director," said Keyes. "He is one of the world's most talented and seasoned risk management professionals and has been instrumental in advising Blockbuster through our transformation."
"Moving forward, we are confident that with the addition of Kathleen and Jay to the team of directors we have already assembled, we will have the right skill set at the Board level to lead Blockbuster through this critical period," Keyes concluded.
