Forbes is reporting that Coinstar has recently made some changes to its executive team, replacing some of them with Redbox executives.
As we reported in February, Coinstar bought the remaining shares of Redbox that they didn’t already own from McDonald’s and other smaller investors, making them the sole owner of Redbox. This effectively took Redbox public, as the DVD kiosks now account for mosts of Coinstar’s business.
Redbox CEO Gregg Kaplan became Coinstar President and COO, while Redbox CFO John Harvey became the CFO of Coinstar. The previous Coinstar COO, Paul Davis, is now the CEO.
In addition, former Redbox COO Mitch Lowe (formerly a founding executive at Netflix) has now become the Redbox President.
These are the exact kind of changes I have been waiting for, and hopefully now that everyone is in their new positions, we can have some useful dialog with Redbox. I would love to be able to chat with the Redbox team regularly to bring you news and updates about Redbox and what they have in store for us next.
If someone knows Mitch Lowe and can help me get in touch with him, please let me know. It would be greatly appreciated and will benefit everyone.
I think Coinstar and Redbox have a bright future ahead of them. Congratulations to the new team and to Coinstar for a great acquisition.