iMedia Appoints Alan Aldworth to its Board of Directors
01 2월 2023 - 6:00AM
iMedia Brands, Inc. (“iMedia”) (NASDAQ: IMBI, IMBIL) announced
today that it has appointed Alan Aldworth to its board of
directors, effective January 30, 2023.
Mr. Aldworth is a proven media executive with
over 30 years of leadership positions in publicly held interactive
media and publishing companies, including his roles as CEO of
ProQuest, President of Tribune Education, and CFO of Tribune
Company Publishing Division. At Tribune and ProQuest, and
subsequently as a board director, Mr. Aldworth led public
offerings, raised venture capital, public and private debt, and
managed over 50 M&A transactions and divestures totaling $5
billion. Today, Mr. Aldworth is Managing Director of Alexander West
Capital, LLC. Mr. Aldworth holds a Bachelor of Science in Commerce
and Accounting from DePaul University, holds an MBA from Kellogg
Graduate School of Management Northwestern University, and is a CPA
(non-active status).
“Alan is an important addition to our board,”
said Landel Hobbs, chairman of iMedia. “His experience in media as
a public company director complemented by his entrepreneurial
achievements will enable him to instantly create a positive impact
on our journey.”
Commenting on his appointment, Mr. Aldworth
said, “I am excited to be part of iMedia and I look forward to
helping the teams continue to build an entrepreneurial culture
focused on innovation. Today’s shifting media landscape requires
that skill and that grit.”
Mr. Aldworth fills a board vacancy created by
the resignation of Lisa Letizio, effective January 30, 2023.
Commenting on the departure, Hobbs said: “On behalf of the iMedia
board, we appreciate Lisa’s years of service and contributions to
our business and wish her well in her future endeavors.”
About iMedia Brands, Inc.
iMedia Brands, Inc. (NASDAQ: IMBI, IMBIL) is a
global media company capitalizing on the convergence of
entertainment, ecommerce, and advertising. The Company owns and
operates four television networks, ShopHQ, 1-2-3.tv, ShopBulldogTV
and ShopHQHealth. It’s flagship television network, ShopHQ is
nationally distributed in the U.S. to over 90 million homes via its
affiliation agreements with cable, satellite, and broadcast
platforms, and it reaches additional viewers through its social
platforms and its OTT Apps available on Roku, Apple TV, Amazon Fire
and Samsung Smart-televisions.
iMedia’s common stock is traded on the NASDAQ
Global Market stock exchange under the ticker IMBI. iMedia’s 8.5%
bonds are also publicly traded on the NASDAQ Global Market under
the ticker IMBIL and pay holders 8.5% interest quarterly in arrears
on March 31, June 30, September 30, and December 31.
Investors:Ken
Cooperkcooper@imediabrands.com(952) 943-6119
Media:press@imediabrands.com(952) 943-6125
Cautionary Statement Concerning
Forward-Looking Statements
This document may contain certain
“forward-looking statements” within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Any statements contained herein that are not statements of
historical fact, including statements regarding future revenue and
adjusted EBITDA are forward-looking. The Company often uses words
such as anticipates, believes, estimates, expects, seeks, predicts,
should, plans, will, or the negative of these terms and similar
expressions to identify forward-looking statements, although not
all forward looking-statements contain these words. These
statements are based on management's current expectations and
accordingly are 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): variability in consumer
preferences, shopping behaviors, spending and debt levels; the
general economic and credit environment, including COVID-19;
interest rates; seasonal variations in consumer purchasing
activities; the ability to achieve the most effective product
category mixes to maximize sales and margin objectives; competitive
pressures on sales and sales promotions; pricing and gross sales
margins; the level of cable and satellite distribution for the
Company’s programming and the associated fees or estimated cost
savings from contract renegotiations; the Company’s ability to
establish and maintain acceptable commercial terms with third-party
vendors and other third parties with whom the Company has
contractual relationships, and to successfully manage key vendor
and shipping relationships and develop key partnerships and
proprietary and exclusive brands; the ability to manage operating
expenses successfully and the Company’s working capital levels; the
ability to remain compliant with the Company’s credit facilities
covenants; customer acceptance of the Company’s branding strategy
and its repositioning as a video commerce Company; the ability to
respond to changes in consumer shopping patterns and preferences,
and changes in technology and consumer viewing patterns; changes to
the Company’s management and information systems infrastructure;
challenges to the Company’s data and information security; changes
in governmental or regulatory requirements; including without
limitation, regulations of the Federal Communications Commission
and Federal Trade Commission, and adverse outcomes from regulatory
proceedings; litigation or governmental proceedings affecting the
Company’s operations; significant events (including disasters,
weather events or events attracting significant television
coverage) that either cause an interruption of television coverage
or that divert viewership from its programming; disruptions in the
Company’s distribution of its network broadcast to customers; the
Company’s ability to protect its intellectual property rights; the
Company’s ability to obtain and retain key executives and
employees; the Company’s ability to attract new customers and
retain existing customers; changes in shipping costs; expenses
related to the actions of activist or hostile shareholders; the
Company’s ability to offer new or innovative products and customer
acceptance of the same; changes in customer viewing habits of
television programming; logistics costs including the price of
gasoline and transportation; and the risks described from time to
time in the Company’s reports filed with the SEC, including, but
not limited to, the Company’s most recent annual report on Form
10-K, quarterly reports on Form 10-Q, and current reports on Form
8-K. Investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date of this
announcement. 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.
iMedia Brands (NASDAQ:IMBI)
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