August 03, 1999 16:31
ValueVision Announces Senior Management Promotions
-- Cary Deacon Promoted to President of ValueVision Interactive
-- Steve Jackel Promoted to President of ValueVision, TV Home Shopping Operations
MINNEAPOLIS, August 3 /PRNewswire/ -- ValueVision International, Inc. (Nasdaq: VVTV) today announced the promotions of Cary Deacon, former Executive Vice President, New Business Development, to the newly created position of President of ValueVision Interactive and Steve Jackel, former Executive Vice President and General Manager of ValueVision, to the newly created position of President of ValueVision, TV Home Shopping.
"Since their appointments less than a year ago, Cary and Steve have been instrumental in generating the growth momentum ValueVision is currently experiencing," said Gene McCaffery, Chairman and Chief Executive Officer of ValueVision. "As we begin to plan the launch of a series of new and innovative e-commerce and entertainment programming projects and continue to expand our subscriber base, Cary and Steve's abilities will be critical not only in implementing our current
strategies, but also in defining our next steps in the online and television home shopping areas.
"Today's appointment of Stuart Goldfarb, former Executive Vice President of NBC for Worldwide Business Development, to Executive Vice Chairman of ValueVision and the promotions of Messrs. Deacon and Jackel also provide additional strength and continuity to the leadership of ValueVision. We have been successful in attracting some of the best and the brightest to our company, from leading Internet savvy executives to senior sales-support managers. We believe we have built an outstanding leadership team committed to defining the future of home shopping as ValueVision leads the convergence of the Internet, television and entertainment programming," concluded Mr. McCaffery.
Steve Jackel Promoted to President of ValueVision, TV Home Shopping Operations
Steve Jackel, former Executive Vice President and General Manager of ValueVision, TV Home Shopping Operations, has been promoted to the newly- created position of President of ValueVision, TV Home Shopping Operations. Mr. Jackel will continue to report to Mr. McCaffery and be responsible for ValueVision's television home shopping network merchandising, marketing, production and programming functions.
Since 1996, Mr. Jackel has served as President and Chief Operating Officer of Florida-based Concord Camera Corporation (Nasdaq: LENS), a designer, manufacturer and distributor of a wide range of single use and traditional cameras worldwide with global sales of over $100 million. From 1990-1995, Mr. Jackel held increasingly responsible positions at Beverly Hills, California-based McCrory Corporation with his most recent position as Chairman and Chief Executive Officer of McCrory Stores and President of McCrory Corporation. Prior to 1990, Mr. Jackel spent 25 years in the retail field and 5 years as Owner/President of Harjac Consulting Corporation.
Cary Deacon Promoted to President of ValueVision Interactive
Cary Deacon, former Executive Vice President, New Business Development of ValueVision, has been promoted to the newly-created position of President, ValueVision Interactive. Mr. Deacon, who will report to Mr. Goldfarb, Executive Vice Chairman of ValueVision, will be responsible for the development and execution of ValueVision's online and e-commerce strategy.
Mr. Deacon joined the Company in September 1998 as Vice President, Marketing. He was appointed as Senior Vice President Marketing and Business Development in December 1998 and recently promoted to Executive Vice President, New Business Development. Mr. Deacon has served as Senior Vice President of Marketing and Public Relations for several multi-billion dollar retailers, most recently at Macy's. In addition he served as President and COO of Saffer Advertising.
About ValueVision
ValueVision International, Inc. is an integrated electronic and print media direct marketing company, and operates a television home-shopping network and multi-book catalog operation. The Company
offers live programming 24 hours per day, 7 days a week. As of July 31, 1999, approximately 29 million homes were be able to receive ValueVision's programming. In addition, the Company operates several
direct mail operations and an Internet shopping Web site ( www.vvtv.com ). The Company's shares are traded on the Nasdaq Stock Market under the symbol VVTV.
For additional information on ValueVision please visit the Company's web site at vvtv.com or by fax, at no cost, dial 1-800-PRO-INFO, and enter code VVTV.
Note: The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this news release contains statements that are
forward-looking, such as statements relating to increased distribution of the Company's programming, the Company's future profitability, entrance into e-commerce, and the continuing success in developing
and implementing new strategic alliances (including the GE Equity and NBC alliance.) There are certain important factors, such as consumer spending and debt levels, interest rates, competitive pressure on sales and pricing, the maintenance of distribution of the Company's programming, that could cause results to differ materially from those forward-looking statements. Investors are cautioned that all forward- looking statements involve risks and uncertainty, including the possibility that revenues and distribution will not continue to increase, that e-commerce will not be successful, that other
strategic alliances (including the GE Equity and NBC alliance) may not result in increased revenues, earnings and subscribers. For more information on the potential factors that could affect the Company's financial results, investors should refer to the Company's filings with the Securities and Exchange Commission.
SOURCE ValueVision International , Inc.
/CONTACT: Gene McCaffery, Chairman, President and CEO, ValueVision
International, Inc., 612-947-5207, or General Info., Haris Tajyar, Media, Marjorie Ornston, 310-442-0599, or Investors, Tracy Gutwillig, 312-266-7800, all of the Financial Relations Board/
/Web site: vvtv.com /
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