JustTheFacts
April 13th, 2007, 12:00 PM
Blockbuster promotes Shepherd to COO
New chief operating officer in the running to replace Antioco at end of year
By Cindy Spielvogel 4/13/2007
Shepherd
APRIL 13 | Blockbuster has elevated Nick Shepherd to senior executive VP and chief operating officer, giving him responsibility for the retailer’s online operations in addition to bricks-and-mortar stores.
Shepherd, who previously was executive VP and president of worldwide stores, continues to report to CEO John Antioco, who will leave the company by the end of the year.
An SEC filing on the financial aspects of Shepherd’s promotion indicates changes to his compensation should he be chosen to replace Antioco as the next CEO.
A Blockbuster spokesman confirmed that Shepherd is in the running for CEO.
“Nick is a candidate for the CEO position,” said Randy Hargrove, Blockbuster senior director of corporate communications, adding that “the board is undertaking a search that looks at external candidates as well.”
Shepherd joined Blockbuster in 1995 and has served in a variety of capacities, including executive VP and chief marketing and merchandising officer, chief concept officer, senior VP of international and VP and managing director of the company’s U.K. business. He added international responsibilities for stores to his domestic duties last year.
In announcing Shepherd’s new oversight on online operations, Blockbuster emphasized its commitment to the Total Access online/in-store rental program.
Total Access has been praised for bringing Blockbuster success in recent months, but questions have arisen over its long-term prospects.
Blockbuster is considering a price increase for Total Access, but some consumers who have been polled by the retailer on the possibility have reacted unfavorably, and some analysts have reacted negatively as well. Most recently, Lehman Brothers analyst Doug Anmuth raised his price target on Netflix partly based on the idea that consumers would switch to Netflix if Blockbuster raises its price.
Blockbuster’s stock price rose slightly in morning trading after the news of Shepherd’s promotion, from $6.43 to $6.49. The stock had fallen almost 10% since the March 20 announcement of Antioco’s impending departure.
Digg
New chief operating officer in the running to replace Antioco at end of year
By Cindy Spielvogel 4/13/2007
Shepherd
APRIL 13 | Blockbuster has elevated Nick Shepherd to senior executive VP and chief operating officer, giving him responsibility for the retailer’s online operations in addition to bricks-and-mortar stores.
Shepherd, who previously was executive VP and president of worldwide stores, continues to report to CEO John Antioco, who will leave the company by the end of the year.
An SEC filing on the financial aspects of Shepherd’s promotion indicates changes to his compensation should he be chosen to replace Antioco as the next CEO.
A Blockbuster spokesman confirmed that Shepherd is in the running for CEO.
“Nick is a candidate for the CEO position,” said Randy Hargrove, Blockbuster senior director of corporate communications, adding that “the board is undertaking a search that looks at external candidates as well.”
Shepherd joined Blockbuster in 1995 and has served in a variety of capacities, including executive VP and chief marketing and merchandising officer, chief concept officer, senior VP of international and VP and managing director of the company’s U.K. business. He added international responsibilities for stores to his domestic duties last year.
In announcing Shepherd’s new oversight on online operations, Blockbuster emphasized its commitment to the Total Access online/in-store rental program.
Total Access has been praised for bringing Blockbuster success in recent months, but questions have arisen over its long-term prospects.
Blockbuster is considering a price increase for Total Access, but some consumers who have been polled by the retailer on the possibility have reacted unfavorably, and some analysts have reacted negatively as well. Most recently, Lehman Brothers analyst Doug Anmuth raised his price target on Netflix partly based on the idea that consumers would switch to Netflix if Blockbuster raises its price.
Blockbuster’s stock price rose slightly in morning trading after the news of Shepherd’s promotion, from $6.43 to $6.49. The stock had fallen almost 10% since the March 20 announcement of Antioco’s impending departure.
Digg