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ShopNBC Strengthens Merchandising Organization(March 18, 2010)
MINNEAPOLIS, MN -- (Marketwire) -- 03/18/10 -- ShopNBC (NASDAQ: VVTV), the premium lifestyle brand in electronic retailing, today announced it has strengthened its merchandising organization leadership by promoting Matthew Lubkeman to Vice President of Watches, and appointing Rod Ghormley as Vice President of Home.
Matthew Lubkeman joined ShopNBC in 2004. Previously, Matthew held buying positions for men's clothing and watches at Macy's. He has more than 20 years of multichannel retailing experience.
Rod Ghormley joins the company as ShopNBC's Vice President of Home. Previously, Rod served as Senior Vice President and General Merchandise Manager for ShopKo's home division, and he held executive merchandise positions at Amazon, QVC, and Foley's Department Stores. Rod has over two decades of experience in multichannel retailing.
In accordance with the NASDAQ Marketplace Rule 4350, Rod Ghormley is being granted inducement stock options as of his first day of employment with ShopNBC, covering the right to purchase 50,000 shares of the company's common stock. The options will have an exercise price equal to the closing price of the company's common stock on the date of the grant.
ShopNBC is a multichannel electronic retailer operating with a premium lifestyle brand. Over 1 million customers benefit from ShopNBC as an authority and destination in the categories of home, electronics, beauty, fashion, jewelry and watches. As part of the company's "ShopNBC Anywhere" initiative, customers can interact and shop via cable and satellite TV in 75 million homes (DISH Network channels 134 and 228; and DIRECTV channel 316); mobile devices including iPhone, BlackBerry and Droid; online at www.ShopNBC.com; live streaming at www.ShopNBC.TV; and social networking sites Facebook, Twitter, and YouTube. ShopNBC is owned and operated by ValueVision Media (NASDAQ: VVTV).
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