Redbox President Mark Horak to Step Down
Parent Outerwall said the executive, who joined the DVD kiosk company in March 2014, is leaving as movie rentals fall short of expectations.
Redbox is looking for a new president.
Outerwall Inc., parent of the DVD rental kiosk company, said Mark Horak is stepping down as Redbox president. Outerwall CEO Erik Prusch will serve as interim Redbox president until Horak's replacement is found.
"We appreciate Mark’s contributions to the company and remain confident in Redbox’s position,” Prusch said in a statement late Monday as he announced the leadership transition. He added DVD kiosk movie rentals had not met targets for Redbox due in part to the Hollywood movie mix. Consumers are also opting for Blu-ray rentals.
"We remain focused on driving increases in both unique customers and rentals and driving improved top-line performance while controlling costs and creating efficiencies," added Prusch. Horak joined Redbox in March 2014 after starting his career at Warner Bros. in marketing and eventually running the studio's physical video, digital and video game businesses in North America.
Before Warner Bros., Horak worked in the food industry at Dole Packaged Foods, StarKist Seafood Co. and Nabisco Brands. Outerwall said it has started a search process to fill the vacant Redbox president post.