MINNEAPOLIS, Feb. 14, 2011 (GLOBE NEWSWIRE) -- Navarre Corporation (Nasdaq:NAVR), a leading distributor, provider of complete logistics solutions, and publisher of computer software and Japanese anime, announced today that it has appointed Bradley J. Shisler and Richard Willis as independent members to its board of directors. These appointments expand the board to ten, eight of whom are independent. Shisler and Willis will serve as directors until the Company's next annual shareholders' meeting, at which time they will stand for election by the shareholders.
"We welcome Brad and Richard to the board and look forward to working with them," said Eric H. Paulson, chairman of Navarre Corporation. "They bring tremendous industry expertise, corporate finance, M&A and operational experience to our organization. We are confident that their contributions to Navarre's board will assist us in guiding the execution of our strategic plan.
"Our focus on increasing shareholder value is aligned with our multi-faceted strategic plan to leverage our highly sophisticated systems and logistics capabilities, expand our products and services beyond digitally downloadable products, provide back-end logistics solutions and fulfillment capabilities to our customers, and expand our direct-to-consumer fulfillment business. With the additions of Brad and Richard to the Board, we have the right team in place to execute this strategy and build upon the momentum we have generated over the past couple of quarters," continued Paulson.
Shisler, 40, currently serves as a director at RealManage Holdings, Inc., a community association management company. Previously, Shisler was a principal of Willis Stein & Partners, a private equity fund with nearly $3 billion of equity capital under management. Mr. Shisler previously served on the boards of directors of Baker & Taylor Corporation, the world's largest distributor of books, as well as a global distributor of DVDs and music; CompuPay, Inc., a provider of outsourced payroll processing, tax filing and other related services; National Veterinary Associates, Inc., an owner and operator of companion animal veterinary hospitals throughout the U.S and Ziff Davis Media Inc., an integrated media company focused on the technology and video game markets. Mr. Shisler has an M.B.A., with distinction, from the Kellogg School of Management at Northwestern University, as well as both a B.S. degree in chemical engineering and a B.A. degree in political science from Rice University.
Willis, 50, has more than 20 years of executive experience in retail and manufacturing industries. He is currently the executive chairman of Charlotte Russe, a mall-based specialty retailer of fashionable, value-priced apparel and accessories. He previously served as president of Shoes for Crews, a seller of slip resistant footwear; chief executive officer of Baker & Taylor Corporation, the world's largest distributor of books, as well as a global distributor of DVDs and music; chairman, president and chief executive officer of Troll Communications; president and chief executive officer of Bell Sports; and chief financial officer of several magazine companies, including Petersen Publishing, which he helped take public in 1997. Willis received both a bachelor's degree in business administration and a master's of business administration from Baylor University, where he also serves as a Regent.
The appointments of Mr. Shisler and Mr. Willis result from the successful outcome of the Company's discussions with one of its largest shareholders, Becker Drapkin Partners (Q.P.), L.P. and several of its affiliates.
About Navarre Corporation
Navarre® Corporation provides distribution, third party logistics, supply chain management and other related services for North American retailers and their suppliers. For over 25 years, the Company has been a leading distributor for computer software, home entertainment media, consumer electronics and accessories. The Company also publishes computer software in its Encore® subsidiary and produces anime video through its FUNimation Entertainment® subsidiary. Navarre was founded in 1983 and is headquartered in Minneapolis, Minnesota. Additional information can be found at .
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