Mood Media Appoints Thomas L. Garrett, Jr. Chief Financial Officer
Garrett Brings Over 30 Years of Financial and Operating Experience to Mood
Media
TORONTO, Jan. 14, 2014 /CNW/ - Mood Media Corporation (ISIN: CA61534J1057)
(TSX: MM) (LSE AIM: MM) ("Mood Media," "Mood" or the "Company") today announced
that it has appointed Thomas L. Garrett, Jr. as Executive Vice President and
Chief Financial Officer. Mr. Garrett will lead the Company's global finance
teams and will execute financial strategies to enhance Mood Media's profitable
revenue growth and increase operational efficiencies.
"Tom is a highly seasoned financial executive with significant operational and
transformational experience at top companies that have broad international
presence," said Steve Richards, Chief Executive Officer and President. "In
addition to his experience with public companies, he has in-depth expertise
with private equity backed turnaround situations in several industries. I am
confident that Tom's finance, planning and business transformation knowledge
will increase Mood's financial discipline as we execute our growth strategy to
broaden sound, sight, scent, systems and experiential solutions for Mood's
current and prospective clients. Over the past 90 days, we have strengthened
our senior leadership team in core areas and Tom is another great example of
the best-in-class talent we are attracting to Mood. We believe that we have
significant opportunities to enhance our profitability, strengthen our free
cash flow and create enhanced value for shareholders and other stakeholders. I
look forward to working closely with Tom and the rest of the management team to
achieve our strategic objectives in 2014 and beyond."
Mr. Richards continued, "I would also like to thank Randal Rudniski for his
valuable contribution as Mood's interim CFO, a position he held as he continued
to deliver results in his corporate development and investor relations role.
Randal's willingness and ability to facilitate a seamless CFO transition while
supporting the Company's strategic execution over the past three months,
including the most recent sale of our Latin American residential division, is
greatly appreciated. I look forward to his continued contributions as we
enhance results and build broader, closer relationships with our investment
community."
Mr. Rudniski has held progressively senior positions at Mood Media, and in his
role as Executive Vice President, Investor Relations and Corporate Development,
he leads the Company's activities focused on the investment community and
supports all corporate development initiatives. Mr. Rudniski joined Mood in
September 2012.
About Thomas Garrett
Mr. Garrett has more than 30 years of financial, operational and
transformational experience, having served as a senior financial executive with
several Fortune 500 companies including Chief Financial Officer of LTV Steel
and Service Merchandise, Treasurer of Magma Copper, and as CFO for a number of
privately owned businesses spanning a wide variety of industries including
healthcare services, business process outsourcing, retail, mining and mortgage
banking. Garrett's versatile skill set has been applied to support public
company and demanding private equity backed turnarounds including business
transformations for HIG/Bayside, Silver Point, Babson Capital, Warburg Pincus,
and Jupiter Partners. Most recently, Mr. Garrett served as Executive Vice
President & Chief Financial Officer of Caregiver Services, Inc. (CSI), a
position he assumed in July 2011. Prior to CSI, Mr. Garrett was the Executive
Vice President & Chief Financial Officer of Precision Response Corp (PRC), a
global business process outsourcing company. Mr. Garrett has also served as
Senior Vice President and Chief Financial Officer at Portrait Corporation of
America, and Executive Vice President & Chief Operating Officer of Churchill
Mortgage Corporation. Mr. Garrett spent 16 years at The Goodyear Tire & Rubber
Company, where he held finance roles with increasing responsibility culminating
in the position of Director, Treasury in 1990. Tom began his career with Arthur
Andersen, and holds a B.S. in Accounting, summa cum laude, from The University
of Akron.
About Mood Media Corporation
Mood Media Corporation (TSX:MM/ LSE AIM:MM), is one of the world's largest
designers of in-store consumer experiences, including audio, visual,
interactive, scent, voice and advertising solutions. Mood Media's solutions
reach over 150 million consumers each day through more than half a million
subscriber locations in over 40 countries throughout North America, Europe,
Asia and Australia.
Mood Media Corporation's client base includes more than 850 U.S. and
international brands in diverse market sectors that include: retail, from
fashion to financial services; hospitality, from hotels to health spas; and
food retail, including restaurants, bars, quick-serve and fast casual dining.
Our marketing platforms include 77% of the top 100 retailers in the United
States and 100% of the top 50 quick-serve and fast-casual restaurant companies.
For further information about Mood Media, please visit www.moodmedia.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements. The words "believe",
"expect", anticipate", "estimate", "intend", "may", "will", "would" and similar
expressions and the negative of such expressions are intended to identify
forward-looking statements, although not all forward-looking statements contain
these identifying words. These forward-looking statements are subject to
important assumptions, including without limitation, expected growth, results
of operations, performance, and business prospects and opportunities. While
Mood Media considers these factors and assumptions to be reasonable based on
information currently available, they may prove to be incorrect. Known and
unknown factors could cause actual results to differ materially from those
projected in the forward-looking statements. Such factors include, but are not
limited to: the impact of general market, industry, credit and economic
conditions, currency fluctuations as well as the risk factors identified in
Mood Media's management discussion and analysis dated November 14, 2013 and
Mood Media's annual information form dated March 28, 2013, both of which are
available on www.sedar.com. Given these uncertainties, readers are cautioned
not to place undue reliance on such forward-looking statements. All of the
forward-looking statements made in this press release are qualified by these
cautionary statements and other cautionary statements or factors contained
herein, and there can be no assurance that the actual results or developments
will be realized or, even if substantially realized, that they will have the
expected consequences to, or effects on, Mood Media. Forward-looking statements
are given only as at the date hereof and Mood Media disclaims any obligation to
update or revise the forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by applicable laws.
SOURCE: Mood Media Corporation
For further information:
Investor Inquiries
Randal Rudniski
Mood Media Corporation
Tel: +1 (512) 592 2438
randal.rudniski@moodmedia.com
Dominic Morley
Panmure Gordon (UK) Limited
+44 020 7886 2500
(MM. MM)
