Coinstar Names Retail Industry Veteran, R. Michael Rouleau, to Board of Directors.BELLEVUE, Wash. -- Coinstar, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CSTR CSTR Centre for Speech Technology Research CSTR Canister CSTR Continually Stirred Tank Reactor CSTR Center for Software Testing Research (Florida Tech) CSTR Combat System Trial Rehearsal (US DoD) ) today announced that its Board of Directors has appointed retail industry veteran, R. Michael Rouleau rouleau /rou·leau/ (roo-lo´) pl. rouleaux´ [Fr.] an abnormal group of red blood cells adhering together like a roll of coins. rouleau pl. rouleaux [Fr.] a roll of red blood cells resembling a pile of coins. , as a new independent director. This appointment fills a vacant seat on Coinstar's Board, bringing the number to seven directors, six of whom are independent. Rouleau is also expected to be named a member of the Nominating and Governance Committee of Coinstar's Board of Directors. "Michael joins Coinstar's Board with over four decades of retail and merchandising experience and a proven record of value creation at each company he has led," said Dave Cole, Chief Executive Officer of Coinstar, Inc. "We are delighted to add another independent voice to the Board who also has a deep understanding of the challenges and opportunities in the current retail environment. I am confident that Michael's knowledge and insight into the retail channel will help support the continued execution of Coinstar's 4th Wall strategic plan." Rouleau most recently served as President and Chief Executive Officer of Michaels Stores, Inc. During his 10 years of leadership, Michaels Stores became the nation's leading arts and crafts arts and crafts, term for that general field of applied design in which hand fabrication is dominant. The term was coined in England in the late 19th cent. as a label for the then-current movement directed toward the revivifying of the decorative arts. retailer and one of the best-performing retailers in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , growing its market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. from $310 million in 1996 to approximately $4.5 billion in 2006 before it was sold to affiliates of Bain Capital Bain Capital LLC is a Boston, Massachusetts-based private equity firm founded in 1984 by Mitt Romney, the former Governor of Massachusetts, and two other partners from the consulting firm Bain & Company: T. Coleman Andrews III and Eric Kriss. Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and The Blackstone Group for $6 billion. Prior to joining Michaels Stores in 1996, Rouleau served as Executive Vice President of Store Operations for Lowe's Companies, Inc. where he participated in the Company's transformation into a "big box" retailer. During his tenure, Lowe's revenues grew from an annual rate of $3.6 billion in fiscal year 1992 to over $7.1 billion in fiscal year 1995, and market capitalization increased by approximately $5 billion. He spent over 20 years with Dayton Hudson Corporation, where he was one of the original 23 employees that participated in the start-up of its Target Stores Division and later became Executive Vice President of Merchandising and Logistics. Rouleau's experience also includes co-founding Office Warehouse, where he served as president for several years; the company subsequently merged with OfficeMax. "Coinstar's solid leadership team and outstanding set of complementary businesses provide a strong foundation for growth," said Rouleau. "I am looking forward to serving on the Coinstar Board and to working with my fellow directors and the executive management team to further develop Coinstar's retail offering and deliver superior returns to shareholders." About Coinstar, Inc. Coinstar, Inc. (NASDAQ:CSTR) is a multi-national company offering a range of 4th Wall[TM] solutions for the retailers' front of store consisting of self-service coin counting, electronic payment solutions, money transfer, entertainment services and self-service DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. rental. The company's products and services can be found at more than 60,000 retail locations including supermarkets, drug stores, mass merchants, convenience stores, and financial institutions. For more information, visit www.coinstar.com. |
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