CHICAGO, July 20 /PRNewswire/ -- Playboy.com, Inc., a wholly owned
subsidiary of Playboy Enterprises, Inc. (NYSE: PLA) today said that it elected
Lawrence R. Lux president and a member of the company's board of directors.
He will replace Kevin Mayer, who has decided to leave to pursue other
opportunities.
Lux, 41, has more than 12 years of experience in the Internet industry.
As senior vice president and managing director of National Geographic
Interactive, he created a multimedia business based on National Geographic
magazine and brought it to profitability. He also served as CEO of Pseudo
Programs Inc., which creates a range of video programming for online viewing,
and, most recently as CEO of Sudden Industries, a digital studio.
Christie Hefner, chairman of both Playboy Enterprises and Playboy.com,
said: "Larry brings an extraordinarily wide range of organizational and
management skills to this position. His background in translating a globally
recognized franchise like National Geographic into a profitable Web enterprise
resonates well with our work in turning the Playboy brand into an online
success story. His experience with Pseudo's online TV network will be
invaluable, as video streaming will become a key component of our online
business going forward. In addition, Larry is a strong business builder who
offers the leadership skills needed to grow our online business at a dynamic
pace and to lead the company through its planned initial public offering."
"I am very excited about the opportunity to take the world's pre-eminent
men's brand and extend and enhance its power," said Lux. "In addition to
content and marketing, my primary near-term focus will be to use the resources
and assets of the company to bring the online venture to profitability."
Mayer will remain in place until Lux arrives, at which time he also will
resign his board seat. "Kevin successfully expanded our business both terms
of growing revenues and increasing traffic. He leaves us in significantly
stronger shape than when he arrived and we wish him all the best in his future
endeavors," Hefner said.
Lux holds a BA in marketing and finance from the University of Cincinnati
and an MBA in international business from Xavier University. He began his
career with Cincinnati Bell telephone, where his titles included director of
electronic media and director of business development. Prior to joining
National Geographic, he was vice president of product management and marketing
at CollegeView Partners.
Lux will be based in Playboy's New York offices.
Playboy.com is a wholly owned subsidiary of Playboy Enterprises, Inc.
(NYSE: PLA), an international multimedia entertainment company. Playboy.com
operates Playboy-branded Web sites targeting the entertainment and lifestyle
interests of young men, including: Playboy.com ( http://www.playboy.com ), an
advertising and e-commerce-supported Web site that offers a range of
entertainment, information and e-commerce; Playboy Cyber Club
( http://cyber.playboy.com ), a subscription site featuring premium Playboy
content and exclusive online events; the Playboy Store
( http://www.playboystore.com ), which sells Playboy-branded products; and
Playboy Auctions ( http://auctions.playboy.com ), which auctions Playboy-
branded merchandise and admission to Playboy events, and allows fans to
auction their own Playboy memorabilia and collectibles. Playboy.com also
operates Cyberspice.com ( http://www.cyberspice.com ), a site featuring
premium adult entertainment under the Spice brand.
SOURCE Playboy.com, Inc.
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Related links:
http://www.playboy.com
CONTACT:
Martha Lindeman of Playboy.com, 312-373-2430,
or marthal@playboy.com
NOTE TO EDITORS: A digital photograph of Lux will be available
Thursday afternoon, July 20, in print-quality resolution by
e-mailing Angela De Paul at angelad@playboy.com
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