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Former Albertsons President and COO brings expansive retail, consumer products and food industry expertise to board
Beaverton, Ore – May 19, 2015 – Digimarc Corporation (NASDAQ: DMRC) today announced that Richard King, former President and Chief Operating Officer (COO) of Albertsons Inc., has been elected to the company’s Board of Directors. His 45 years of retail, consumer products and food industry experience will strengthen the Digimarc board’s oversight and advice as the company expands its involvement in the retail industry. Since January 2014, Digimarc has been working with retailers and consumer packaged goods (CPG) companies to implement its ground-breaking Digimarc® Barcode, building from its launch in early 2015 with a technology-leading retailer with more than 80 store locations.
“Dick King understands our vision for dramatically enhancing the retailer’s efficiency in its front of store operations with benefits flowing directly to the bottom line; and, appreciates how we can improve the shopper’s experience through faster checkout and mobile consumer engagement both in the store and at home,” said Bruce Davis, Chief Executive Officer, Digimarc. “Dick’s wealth of experience and business acumen are tremendous assets in our quest to transform retail.”
Mr. King began his career with the national grocery company Albertsons in 1963. He held senior level management positions, including President and COO, from February 1996 to June 1999. Mr. King was instrumental in building Albertsons to a $16 billion operation, which included nearly 1,000 stores and more than 100,000 employees.
Later Mr. King served as Vice President at Associated Food Stores, an independent supplier of wholesale goods to more than 550 stores, and President of two of its subsidiaries, Fresh Market and Associated Retail Stores. Mr. King also serves as an Advisory Board Member of Encore Associates, Inc., provider of business solutions for retailers, manufacturers and CPG companies.
“I am excited to join and contribute to the Digimarc Board of Directors,” said Mr. King. “I am impressed with Digimarc’s remarkable vision, capable management, and talented, dedicated employees. The company’s technology represents a fundamental leap forward in the way retail institutions operate and cater to their shoppers’ needs.”
Mr. King will take Peter W. Smith’s seat on the Board. Smith was elected to the Board of Directors in April 2000. “We are deeply indebted to Peter for his 15 years of dedication to Digimarc,” said Bruce Davis. “He has served with distinction, providing the board with great wisdom, a dedication to the company’s values and good corporate governance, and an unwavering commitment to our success. He is a wonderful gentleman who will be sorely missed by his colleagues on the board and our executive team.”
Digimarc’s solutions reduce costs and improve customer satisfaction for retailers through amazingly fast cashier-assisted and self-checkout, and increase revenue for retailers and brands by creating unprecedented opportunities for mobile shopper engagement. Learn more about the digital identification technology that makes these advancements possible at: www.digimarc.com/solutions/retailers-and-brands
Digimarc Corporation (NASDAQ:DMRC), based in Beaverton, Oregon, is a leading innovator and provider of consumer engagement, media management, and security solutions that create digital identities for all forms of media and many everyday objects. Digimarc’s digital IDs are imperceptible to humans and enable computers, networks and devices like mobile phones to better "see, hear and understand" brand impressions and other objects of interest. Digimarc has built an extensive intellectual property portfolio with patents in digital watermarking, content identification and management, media and object discovery to enable ubiquitous computing and related technologies. Digimarc develops solutions, licenses its intellectual property, and provides development services to business partners across a range of industries. For more information and the latest news, please visit www.digimarc.com and follow us on Twitter @DigimarcCorp.
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