ST. PETERSBURG, Fla., Nov. 3 /PRNewswire/ -- Catalina Marketing
Corporation (NYSE: POS) today announced the resignation of Daniel D. Granger
as Chairman and Chief Executive Officer. Catalina's Board of Directors named
Michael R. O'Brien, one of the company's founders and a former Chairman and
Chief Executive Officer of the company, as interim Chief Executive Officer.
Frederick W. Beinecke was named Chairman of the Board of Directors. The
resignation and new appointments are effective immediately.
Frederick Beinecke will be responsible for guiding the company's strategy
and its relationships with investors. Mr. Beinecke has been a director of
Catalina Marketing for 15 of the past 20 years. In addition, he and certain
members of his family are significant shareholders of the company.
"While we are pleased with many aspects of Catalina Marketing's
performance, the Board of Directors has concluded that the company's short and
long-term performance, as well as long-term shareholder value, will benefit
from new leadership," stated Mr. Beinecke. "With that in mind, the Board has
accepted Dan's resignation."
Mr. O'Brien will lead the company's senior management team as interim
Chief Executive Officer and will have overall responsibility for the company's
day-to-day operations.
"Mike O'Brien has extensive knowledge about the company and its
businesses, as well as the confidence of our customers, employees and
investors," said Mr. Beinecke. "Mr. O'Brien views this as an interim role and
will not be a candidate for the permanent position."
Mr. O'Brien said, "I look forward to working with Catalina Marketing's
strong management and employee team to build on the company's foundation and
begin the process of moving the company to its next phase of growth."
The company previously announced a search for a new Chief Operating
Officer. Instead, the Board of Directors has instructed Spencer Stuart to seek
candidates for the Chief Executive Officer position.
"Dan's departure is not related to the issues surrounding Catalina's
financial reporting. He has made very significant contributions to Catalina
during his 16 years with the company and was instrumental in establishing and
building our marketing and sales functions. Additionally, Dan has overseen
significant growth in his five years as CEO," said Mr. Beinecke. "We extend
our sincere gratitude for his many contributions to Catalina."
Based in St. Petersburg, Fla., Catalina Marketing Corporation
(http://www.catalinamarketing.com) was founded 20 years ago based on the premise that
targeting communications based on actual purchase behavior would generate more
effective consumer response. Today, Catalina Marketing combines unparalleled
insight into consumer behavior with multiple consumer access vehicles,
reaching consumers at home, in-store and online. This combination of insight
and access provides marketers with the ability to execute behavior-based
marketing programs, ensuring that the right consumer receives the right
message at exactly the right time. Through its six operating divisions,
Catalina Marketing offers an array of behavior-based promotional messaging,
product sampling, loyalty programs, direct to patient information and market
research services. Personally identifiable data that may be collected from the
company's targeted marketing programs, as well as its research programs, are
never sold or given to any outside party without the express permission of the
consumer.
Certain statements in the preceding paragraphs are forward looking, and
actual results may differ materially. Statements not based on historic facts
involve risks and uncertainties, including, but not limited to, the changing
market for promotional activities, especially as it relates to policies and
programs of packaged goods manufacturers for the issuance of certain product
coupons, the effect of economic and competitive conditions and seasonal
variations, actual promotional activities and programs with the company's
customers, the pace of installation of the company's store network, the
success of new services and businesses and the pace of their implementation,
and the company's ability to maintain favorable client relationships.
SOURCE Catalina Marketing Corporation
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Related links:
http://www.catalinamarketing.com
CONTACT:
Christopher W. Wolf, Executive Vice President
and Chief Financial Officer, +1-727-579-5218, or Joanne
Freiberger, Vice President, Finance, +1-727-579-5116, or Media -
Susan Gear, Executive Director, Marketing, +1-727-579-5452, all
of Catalina Marketing Corporation
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