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Redbox president exits company as Outerwall plans workforce reduction

December 10, 2013

Redbox is now without an acting president, as Outerwall announced that Anne Saunders has left the company. Outerwall CEO Scott Di Valerio will oversee Redbox operations until a replacement is named.

"I am confident in the future of Redbox and the Redbox executive leadership team, which will continue its work to drive the business and ensure a smooth transition to the next president," Di Valerio said. "We are making progress with our initiatives to drive incremental rentals by continuing to provide new releases and interesting content at a great value to our consumers, generating value for our company and our retail partners. I want to thank Anne for her contributions at Redbox."

Outerwall also announced plans to cut 251 jobs, or 8.5 percent of its workforce, as well as reduce spending on new ventures. The cost reductions would total approximately $22 million annually.

"We believe the organizational changes we are implementing are necessary to better align Outerwall's cost structure with revenue growth in our core businesses to ensure that we are driving the highest returns for our shareholders," Di Valerio said.

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