Current Executive Chairman, Philippe von Stauffenberg, to Continue as Mood Director
TORONTO, November 24, 2014 – Mood Media Corporation (“Mood Media,” “Mood” or “the Company”) (ISIN: CA61534J1057) (TSX:MM / LSE AIM:MM), the world’s largest integrated provider of in-store customer experience solutions, today announced that its Board of Directors (“the Board”) has elected Kevin Dalton, the Company’s lead independent director on its board, to the role of Non-Executive Chairman of the Board, effective January 1, 2015. Philippe von Stauffenberg will transition from the role of Executive Chairman. Having strengthened the Board and successfully overseen the decisive stages of the operational and strategic turnaround of the company, Philippe will now focus his attention on other transformational opportunities. Given his eight year involvement with Mood Media, Philippe will continue to contribute as a director on the Board. This development further underscores the Company’s commitment to enhancing its operating strategy, executing its transformation and maintaining strong corporate governance practices.
“Philippe has played an integral role in changing the direction of Mood, helping our new management team and board members transition into their leadership positions, and collaborating on the Company’s transformation strategy,” said Mr. Dalton. “On behalf of the Board, I would like to thank him for his ongoing leadership and dedication to the Company. I am confident he will continue to play an important role as Mood captures the many opportunities we see on the horizon. I am excited to take on the responsibility of the Chairman and look forward to working closely with Steve Richards and his management team as they execute Mood’s strategy for growing revenues, expanding profitability, and enhancing shareholder value.”
“Kevin has been a tremendous asset to Mood since he joined the Board in January 2014,” said Mr. von Stauffenberg. “Kevin has utilized his in-depth knowledge of the financial markets and his strategic acumen to benefit the Company and I am confident that he is the right leader for this next stage of value enhancement. We have already made significant progress adding new capabilities, capturing synergies in the businesses and increasing Mood’s profitability as measured by EBITDA. Now, with a strong foundation for future growth, Mood is well positioned to further advance its transformation for greater shareholder value. I look forward to continuing to work with the Board as we deliver on our commitments for the benefit of Mood stakeholders.”
About Kevin Dalton
Mr. Dalton is a nearly 20-year veteran of the capital markets and investment banking industry and retired from full time employment in 2010. Mr. Dalton most recently held the position of Vice Chairman, head of investment banking at Desjardins Securities, the brokerage arm of Desjardins Group, the biggest financial institution in Quebec and the largest cooperative financial group in Canada. Prior to joining Desjardins, Mr. Dalton worked at Blackmont Capital, a full-service investment dealer, first serving as managing director and head of investment banking, then moving onto the role of president. Mr. Dalton spent 14 years in the investment banking division of CIBC World Markets, where he specialized in the technology, media and telecommunications sectors and served as managing director, head of Canadian diversified investment banking. Mr. Dalton holds a Bachelor of Arts in Honors Business Administration from the University of Western Ontario.
About Philippe von Stauffenberg
Mr. von Stauffenberg invests in underperforming businesses and buy & build situations. In 2006, he built Mood Media by consolidating the three leading in-store media businesses in Europe and served as the group’s Executive Chairman until Fluid Technologies acquired the company in 2010, and in 2011 the Company was rebranded as Mood Media. Mr. von Stauffenberg continued to serve as a Vice Chairman of the group until September 2013, when he was appointed by the Board to serve as Executive Chairman.
Between 2010 and 2014, Mr. von Stauffenberg was Executive Chairman of Der Grüne Punkt – Duales System Deutschland GmbH, the German take-back system for packaging waste and the world’s largest independent trader of secondary raw materials such as used glass, paper, pulp, and plastics. Previously, he founded and chaired the Green Building Group, which has become one of Germany’s preeminent prefabricated house-builders through a series of acquisitions.