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.
Image with caption: "Thomas L. Garrett, Jr. named Chief Financial Officer by Mood Media (CNW Group/Mood Media Corporation)". Image available at: http://photos.newswire.ca/images/download/20140114_C8363_PHOTO_EN_35483.jpg
SOURCE: Mood Media Corporation
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Mood Media Corporation
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