Appoints Ken Eissing Chief Operating Officer, North America
TORONTO, Oct. 11, 2013 /CNW/ - Mood Media Corporation (ISIN: CA61534J1057) (TSX: MM) (LSE AIM: MM) ("Mood Media" or the "Company") today announced a series of initiatives focused on transforming the Company's operations to pursue organic growth opportunities, create new efficiencies and enhance profitability and free cash flow. The Company is executing against a multi-phase plan that includes:
- Consolidating redundant functions across countries and business units within Mood International;
- Integrating corporate or business unit resources to share services and functions across the global organization where possible, while improving operating margins;
- Aligning the Company's expense structure more closely with revenue opportunities;
- Engendering a company-wide culture of heightened accountability that prioritizes achievement of revenue synergy, efficiencies and profitability targets.
"During the past two years, Mood Media has acquired and assembled a market-leading portfolio of assets. We are now executing a focused strategy to enhance our profitability and broaden our audio, visual, scent and mobile solutions to further support our clients," said Steve Richards, Chief Executive Officer and President. "We believe we have several opportunities to integrate functions and better leverage Mood fixed infrastructure to support multiple business units throughout our global organization. In addition, we are utilizing new tactics to share product solutions across business units creating new opportunities for clients, and allowing Mood to deepen existing client relationships. We see significant opportunities for growth across our markets and businesses and we are taking transformative steps to create enhanced value for our shareholders, clients and associates."
Today Mood also announced that Ken Eissing has been appointed to the position of Chief Operating Officer, North America. Mr. Eissing will be responsible for all Mood client-facing functions, including sales, account management, customer service, service delivery and marketing. He will oversee all aspects of client experiences to ensure Mood Media's products and services are delivered efficiently and effectively to meet client expectations and drive organic growth in North America. Mr. Eissing will also lead the execution of the Company's cross-unit and cross-channel sales strategy, focused on leveraging Mood's portfolio of assets to deepen existing client relationships and create new engagements.
"We are continuing to enhance our executive management team with the talent and expertise necessary to take Mood Media to the next level," continued Mr. Richards. "While doing so, we will reduce layers and reporting structures in the organization, so that leaders are closely positioned to the voice of the customer. Ken has an established track record of driving sales growth, extensive knowledge of Mood Media's unique assets and is well-versed on the North American marketplace. I am confident that his skills will be immediately additive to Mood Media and will support our ability to capitalize on the opportunities to deepen relationships with clients, expand our brand and grow new revenues. I am looking forward to working closely with Ken in North America, and the rest of our leaders across our businesses and geographies, as we execute our strategy focused on achieving profitability gains and revenue growth."
About Ken Eissing
Ken Eissing joins Mood Media with more than 20 years of executive and operational experience and brings a proven track record of success across a variety of industry leading B2B and B2C service businesses to the Company. Mr. Eissing previously served as Executive Vice President, Local Sales and Marketing for Mood Media where he led the business to significantly improved sales and churn results in the Local and QSR marketplaces. Prior to Mood Media, Mr. Eissing was the Senior Vice President and General Manager, Commercial Services for NCO Group, a leading BPO business. In this role, he successfully integrated acquired businesses while delivering organic growth and dramatically improved EBITDA margins during his three-year tenure. Before this position, Mr. Eissing served as the Senior Vice President and General Manager of Transworld Systems, Inc., North America's leading small business focused receivables management business. During his tenure, he led a workforce of more than 1,100 people to transform Transworld Systems' product portfolio and deliver record revenue and earnings results in the company's 40 year history. Prior to Transworld, Mr. Eissing held a variety of marketing, sales, and operational leadership roles with escalating responsibility at AT&T.
Mr. Eissing holds a Masters of Business Administration from the Stern School of Business at New York University and a Bachelors of Science in Finance & Economics from the State University of New York at Albany. He has completed executive education programs at Thunderbird, the University of Southern California, and the Center for Creative Leadership and is an alumnus of AT&T's exclusive Executive Development Program.
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 August 8, 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: [email protected]; Dominic Morley, Hannah Woodley, Panmure Gordon (UK) Limited, +44 020 7886 2500