The Orchard Names Brad Navin CEO
22 Febrero 2010 - 8:15AM
Business Wire
The Orchard (NASDAQ: ORCD), a global leader in music and video
distribution and comprehensive digital strategy, announced today
that current interim CEO Brad Navin has been appointed Chief
Executive Officer and a director of the company. Navin was selected
after Board Chairman Michael Donahue led a search committee
to evaluate candidates and identify the company’s new leader. The
search committee began this process in October 2009.
“With Brad’s more than 14 years of leadership in the industry,
six of those with The Orchard, including as Executive Vice
President and General Manager, our Board of Directors is confident
in Brad’s proven ability to lead The Orchard into the next decade,”
said Donahue. “As an accomplished executive who is intimately
familiar with The Orchard’s business, Brad is the perfect fit for
this role. We’re extremely pleased to have him direct the
company.”
“I’m thrilled to take on this prestigious position and to
continue to drive marketing and distribution with the best team
assembled,” said Navin. “We’ll remain focused on what we do best:
partnering with great clients, creating strategic marketing plans,
and investing in artists we believe in.”
Donahue also expressed gratitude for the time and effort the
board search committee and the external search consultant, Work
& Partners LLC, expended on this important project. Donahue
continues, “Our search committee and advisor Alan Work conducted a
comprehensive process to fill this crucial role with the person who
we believe can take the company to the next level."
About The Orchard(R)
Headquartered in New York and London with operations in 25
markets around the world, The Orchard (NASDAQ: ORCD) is a full
service media company specializing in the distribution of music and
video entertainment. Founded in 1997, the company is a global
leader in digital marketing and distribution, driving sales across
more than 730 digital storefronts and mobile carriers in 69
countries. Fostering creativity and independence, The Orchard
enables labels, studios, artists and rights holders to grow and
monetize audiences globally. For further information please
visit www.theorchard.com.
Forward Looking Statements
This release may contain certain forward-looking statements
regarding The Orchard's expectations regarding future events and
operating performance within the meaning of Federal Securities laws
that are subject to certain risks and uncertainties and involve
factors that may cause actual results to differ materially from
those projected or suggested. Factors that could cause actual
results to differ include, but are not limited to, the ability of
The Orchard to distribute certain products, videos and films and
provide certain marketing and other services. Undue reliance should
not be placed on such forward-looking statements as they speak only
as of the date hereof, and The Orchard undertakes no obligation to
update these statements to reflect subsequent events or
circumstances except as may be required by law. Additional factors
that could cause actual results to differ materially from those
projected or suggested in any forward-looking statements are
contained in The Orchard's most recent periodic reports on Form
10-K and Form 10-Q that are filed with the Securities and Exchange
Commission.
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