Blockbuster Inc. Names Keith Morrow Chief Information Officer and David Podeschi Senior VP, Merchandising, Distribution and Logistics

By: Blockbuster Video | 13 Shares 1,194 Reads

DALLAS, Sept. 10 // PRNewswire-FirstCall // -- Blockbuster Inc. (NYSE: BBI)(NYSE: BBI.B) today announced it has appointed two senior level executives to its management team. Keith Morrow has been named Chief Information Officer (CIO) for the company, and David Podeschi has been named Senior Vice President, Merchandising, Distribution and Logistics.

A veteran IT executive known for his ability to develop innovative technology solutions, especially in retail environments, Morrow was most recently the Chief Information Officer and Senior Vice President of Information Systems at 7-Eleven Inc. where he was responsible for leading the company's North American information technology activities.

Prior to his tenure with 7-Eleven, Morrow held senior management positions with Associates First Capital Corporation (now CitiFinancial) and ADP, one of the nation's largest human resources and payroll services companies.

With more than 30 years of experience in the retail industry, Podeschi most recently served as the Senior Vice President, Merchandising and Logistics at 7-Eleven Inc., where he was responsible for all merchandising, marketing and supply-chain processes for the convenience store company.

Morrow and Podeschi were both part of the 7-Eleven executive team that was widely regarded for its implementation of creative retail system technologies, innovative distribution logistics, and a collaborative approach with product suppliers, which resulted in the unprecedented introduction of new products and services for the convenience store chain. Their efforts, along with those of current Blockbuster Chairman and CEO Jim Keyes, also resulted in 7-Eleven's record sales and profits during Keyes' tenure as CEO of that company from 2000 to 2005.

"I am delighted to welcome Keith and David to the Blockbuster management team," said Jim Keyes, Blockbuster Chairman and CEO. "Their extensive experience in their respective fields, their creative approach to providing business solutions and their proven leadership skills should greatly contribute to our efforts to transform Blockbuster into a brand that can deliver media content to consumers in an ever growing variety of ways."

Morrow holds a Bachelor of Science degree in Business Management and an MBA with an emphasis in e-commerce from Dallas Baptist University. He also serves on the board of the State of Texas Department of Information Resources. Podeschi received a Bachelor of Arts degree in Communications from St. Louis University and serves on the board of the Dallas Chapter of the Juvenile Diabetes Research Foundation.

About Blockbuster

Blockbuster Inc. (NYSE: BBI)(NYSE: BBI.B) is a leading global provider of in-home movie and game entertainment with over 7,800 stores throughout the Americas, Europe, Asia and Australia. The company may be accessed worldwide at http://www.blockbuster.com/.

Forward-Looking Statements

This release includes forward-looking statements related to our operations and business outlook and financial and operational strategies and goals. Specific forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These forward-looking statements are based on management's current intent, belief, expectations, estimates and projections regarding our company and our industry. These statements are not guarantees of future performance and involve risks, uncertainties, assumptions and other factors that are difficult to predict. Therefore, actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Factors that may cause actual results to vary materially include, among others, the factors described in our filings with the SEC, including factors discussed under the heading "Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2006 and under the heading "Disclosure Regarding Forward-Looking Information" in our Form 10-Q for the quarter ended July 1, 2007, as well as changes in the composition of our key management personnel and any shift in strategy in connection therewith. This cautionary statement is provided pursuant to Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release are made only as of the date hereof and we undertake no obligation to update publicly any forward-looking statement for any reason, even if new information becomes available or other events occur in the future.

SOURCE: Blockbuster Inc.