TV Shopping Veteran Brings 22 Years of U.S. and International Experience
MINNEAPOLIS, MN--(Marketwire - March 3, 2008) - ShopNBC (NASDAQ: VVTV), a luxury shopping
network, today announced that its Board of Directors has appointed Ms. Rene
Aiu to the role of President and Chief Executive Officer, effective
immediately. Ms. Aiu will also become a member of ShopNBC's Board of
Directors.
Ms. Aiu has over 22 years of experience in TV shopping and e-commerce, both
in the U.S. and internationally. She comes to ShopNBC having served as
Chairman and CEO of Jupiter Shop Channel Japan, a joint venture among
Liberty Global, Home Shopping Network, and Sumitomo Corporation. At Jupiter
Shop Channel, Ms. Aiu led the channel start up, established the channel as
the number one TV shopping company in Japan, and drove significant sales
growth -- a five-fold increase in revenue. She also built a
performance-oriented company culture and established the required
infrastructure to enable direct marketing via interactive television,
mobile, and the Internet.
Previously, Ms. Aiu was Senior Vice President, Marketing, Sales,
Programming, Production at Home Shopping Network, where she supervised
HSN's marketing, on-air sales, programming, and production departments with
company sales of approximately $1.3 billion. In addition, she has held
senior level management positions at JC Penney Television Shopping Network,
Cable Value Network, which later merged with QVC, and Twentieth Century
Fox. From time to time in her professional career, Ms. Aiu has worked on
various TV shopping related projects in a consultancy capacity across the
globe with TCI International, HSN International, and Liberty Global.
Ms. Aiu replaces interim CEO John Buck, who will continue in his capacity
as Executive Chairman of the Board at ShopNBC. The Board of Directors
expresses its thanks to Mr. Buck for his contributions to the company
during his interim CEO tenure.
"We are extremely pleased to welcome Ms. Aiu to the network," said Mr.
Buck. "She possesses tremendous expertise and an industry vision that will
contribute greatly to ShopNBC's future. Ms. Aiu is customer-driven,
possesses strong marketing and leadership skills, and understands all the
nuances of TV shopping as they relate to merchandising, planning,
programming, systems, and on-air sales talent. Her proven track record of
success and broad experience makes her the ideal leader for the next phase
of growth and expansion at ShopNBC."
"It's an exciting opportunity for me to become part of this dedicated
professional organization," said Ms. Aiu. "I'm looking forward to using my
experience in TV, Internet, and international shopping to help drive sales
and profit growth at the company by building upon the great work that has
been accomplished to date and by serving ShopNBC's loyal customers."
Ms. Aiu holds a B.A., M.A., from USC and a M.B.A from the University of
California (Los Angeles).
About ShopNBC
ShopNBC is a luxury shopping network that generates excitement and urgency
when people shop for the finer things in life by delivering a unique and
exceptional value. ShopNBC reaches 70 million homes in the United States
via cable affiliates and satellite: Dish Network channel 228 and Direct TV
channel 316. ShopNBC.com is recognized as a top e-commerce site. ShopNBC is
owned and operated by ValueVision Media (NASDAQ: VVTV). For more
information, please visit. www.ShopNBC.com.
Forward-Looking Information
This release contains certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and are
accordingly subject to uncertainty and changes in circumstances. Actual
results may vary materially from the expectations contained herein due to
various important factors, including (but not limited to): consumer
spending and debt levels; interest rates; competitive pressures on sales,
pricing and gross profit margins; the level of cable distribution for the
Company's programming and the fees associated therewith; the success of the
Company's e-commerce and rebranding initiatives; the performance of its
equity investments; the success of its strategic alliances and
relationships; the ability of the Company to manage its operating expenses
successfully; risks associated with acquisitions; changes in governmental
or regulatory requirements; litigation or governmental proceedings
affecting the Company's operations; and the ability of the Company to
obtain and retain key executives and employees. More detailed information
about those factors is set forth in the Company's filings with the
Securities and Exchange Commission, including the Company's annual report
on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form
8-K. The Company is under no obligation (and expressly disclaims any such
obligation to) update or alter its forward-looking statements whether as a
result of new information, future events or otherwise.
Contact Information: Contact:
Anthony Giombetti
763-496-1915