MOOD MEDIA CORP 
By
Mood Media Announces Changes to Board of Directors
Gary Shenk, David Richards Appointed as Independent Directors
Lorne Abony and Justin Beckett to Step Down
TORONTO, Jan. 31, 2014 /CNW/ - Mood Media Corporation (ISIN: CA61534J1057)
(TSX: MM) (LSE AIM: MM) ("Mood Media" or the "Company") today announced that
the Board of Directors has appointed Gary Shenk and David V. Richards as new
independent directors, effective today. Messrs. Shenk and Richards succeed
Lorne Abony and Justin Beckett, who will step down from the Board and have
served as directors since 2005 and 2004, respectively.
Mr. Shenk is a seasoned digital media and communications business executive
with significant experience in licensing, operations, sales and marketing. He
currently serves as the Chief Executive Officer of Corbis Corporation, a
leading digital content and worldwide entertainment and licensing company
founded and owned by Bill Gates. Mr. Shenk joined Corbis in 2003 to found the
Company's Rights Services unit, responsible for business development, which
became the preeminent leader in this market under his direction. Prior to
Corbis, Mr. Shenk founded FlixMix, a wholly owned subsidiary of Universal
Pictures, which was instrumental in establishing new licensing formats and
brokering transactions between studios.
Mr. Richards brings extensive accounting and financial expertise to the Board.
He currently serves as the President and Managing Director of Network Capital
Management Inc., a private investment management company that invests primarily
in energy related companies and special situations. Mr. Richards founded the
company in 1997. Mr. Richards is a chartered public accountant and prior to
founding Network Capital Management served as a partner at both
PriceWaterhouseCoopers and Arthur Andersen and Co.
"On behalf of the Board of Directors, I would like to welcome Gary and David to
Mood Media," said Philippe von Stauffenberg, Chairman of the Board. "I am
excited that two insightful business executives of this caliber are joining our
Board. As a prominent leader in the licensing and digital media markets, Gary
will play an integral role in helping Mood continue to build upon its
leadership position in the interactive customer solutions space. We look
forward to his contributions as our CEO Steve Richards and the rest of the
management team execute our strategy to grow and broaden sound, sight, scent,
systems and experiential solutions for Mood's current and prospective clients.
We also look forward to benefiting from David's in-depth accounting experience
and strong analytical background. The Board is excited to work with our
strengthened senior management team to help guide Mood into its next phase of
growth and innovation."
Mr. von Stauffenberg added, "I would also like to take this opportunity to
thank Lorne and Justin for their years of service to Mood at both the Board and
senior leadership levels. Prior to Steve Richards' appointment, Lorne led Mood
Media as its CEO and was key in driving an energetic acquisition strategy,
which has positioned the Company as the undisputed world leader in our
industry. Justin's role in founding Fluid Music Inc. and developing solutions
that are now owned by the Company has helped provide Mood with its strong
portfolio of assets that are our core business and backbone today. We thank
both Lorne and Justin for their achievements during their tenures and we wish
them all the best in their future endeavors."
About Gary Shenk
Gary Richard Shenk (43) is the Chief Executive Officer of Corbis Corporation, a
leading digital content and worldwide entertainment and licensing company
founded and owned by Bill Gates. In this position, he is responsible for
leading business strategy to accelerate Corbis' place as an innovative digital
media company and leading creative resource for advertising, entertainment,
marketing, and media professionals worldwide. Before being appointed CEO, Mr.
Shenk served as both President and Senior Vice President of Corbis, where he
oversaw integrated market-facing functions including Sales, Marketing, Image
Licensing, and Rights Services and spearheaded a transformation of the image
licensing business from an editorial focus to an end-to-end offering with
world-class historical, editorial, entertainment, and creative photography. He
joined Corbis in 2003 when he founded and led the company's Rights Services
unit, responsible for executing a series of acquisitions and business
development strategies. Prior to joining Corbis, Mr. Shenk founded FlixMix, a
wholly-owned subsidiary of Universal Pictures that was one of the industry's
leading media licensing agencies. He successfully entered the media and
entertainment industries by leveraging his significant knowledge, which he
gained as a Project Leader in The Boston Consulting Group's media and
entertainment practice. Mr. Shenk holds a Bachelor's degree from Harvard
College and a Masters of Business Administration from the University of
Pennsylvania's Wharton School of Business.
Mr. Shenk serves and has served on the following boards:
Name of Company Nature of Period of Directorship
Business
Corbis Canada ULC (Canada) Digital January 1, 2008 - May
Media 31, 2013
Corbis Corporation (US) Digital November 24, 2008 -
Media Present
Corbis France, SARL (France) Digital October 31, 2007 -
Media Present
Corbis Hong Kong Limited (Hong Kong) Digital June 4, 2007 - Present
Media
Corbis International, LLC (US) Digital May 7, 2007 - Present
Media
Corbis Italia S.R.L. (Italy) Digital January 18, 2013 -
Media Present
Corbis Netherlands BV (Netherlands) Digital January 1, 2008 -
Media October 28, 2011
Corbis Qualified Intermediary, Limited Digital June 30, 2009 - July
(Cayman Islands) Media 24, 2013
Corbis Shanghai Co. Limited (China) Digital June 1, 2007 - March
Media 22, 2013
Corbis Sygma, SARL (France) Digital November 28, 2007 -
Media May 7, 2010
Corbis UK Limited (UK) Digital February 1, 2013 -
Media July 31, 2013
Demotix, Limited (UK) Digital March 8, 2011 -
Media Present
GreenLight Japan K.K. (now Corbis Digital May 21, 2008 - Present
Entertainment Japan K.K.) (Japan) Media
Mr. Shenk was a director of Corbis Sygma, SARL from November 18, 2007 to May 7,
2010. Sygma was a French historical photojournalism agency, which Corbis
Corporation acquired in 2001. Following an adverse ruling in litigation
regarding the entity's liability for lost analog images belonging to
contributors, Sygma was voluntarily placed into judiciary liquidation on May
25, 2012, with Le Tribunal De Commerce de Paris. Liquidator is Monsieur
Stephane Gorrias, 1 Place Boieldieu, 75002, Paris, France. Proceedings remain
ongoing as all creditor claims are in the process of being first adjudicated
before distribution of the remaining assets.
About David V. Richards
David Vernon Richards (59) is the President and Managing Director of Network
Capital Management, Inc. a private investment management company investing
primarily in energy related companies and special situations that he founded in
1997. Before Network Capital, Mr. Richards served as a senior tax partner in
the Calgary division of Arthur Anderson & Co. from 1993 to 1995. In this role,
he advised clients on various complex accounting issues, including mergers,
acquisitions and financial due diligence. Prior to joining this firm, Mr.
Richards was the Partner-in-Charge of PriceWaterhouseCoopers' (PWC) Calgary
taxation operations from 1990 to 1993 and was admitted to PWC's partnership in
1986. As a fellow of the Institute of Chartered Accountants, Mr. Richards has
extensive accounting expertise, and a great understanding of mergers,
acquisitions, purchase investigations, restructurings and financial
engineering. In the past, Mr. Richards has served as a director for various
companies, including Boardwalk REIT, Alliance Atlantis Movie Distribution
Income Fund, Valiant Energy Inc., Bear Ridge Resources Inc., and Canada
Fluorspar Inc. He currently serves as a director of Madison PetroGas Ltd. and
Wilmington Capital Management Inc.
Mr. Richards serves and has served on the following boards:
Name of Company Nature of Listing Period of Directorship
Business
Wilmington Capital Management Energy & Real TSX May 2012 - Present
Inc. Estate
Standard Exploration Energy TSXV September 2013 -
Present
Madison Petrogas Energy Private March 2011 - Present
First National Alarmcap Income Finance TSX June 2008 - September
Fund 2009
Boardwalk Real Estate Real Estate TSX/ June 1995 - May 2009
Investment Trust NYSE
Parkbridge Lifestyles Real Estate TSX October 2004 - January
Communities Inc. 2007
Bear Ridge Resources Inc. Energy TSX March 2005 - August
2007
Bonnett's Energy Services Trust Energy TSX April 2008 - May 2009
Oil Optimization Inc. Energy TSX January 2008 - August
2010
Save as disclosed above, there is no further information required to be
disclosed under Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules.
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
Email: randal.rudniski@moodmedia.com
Dominic Morley
Panmure Gordon (UK) Limited
+44 020 7886 2500
(MM.)Mood Media Corp : MOOD MEDIA CORPORATION - Directorate Change
Share
© PRNewswire - 2014
