iMedia Brands strengthens Corp – GuruFocus.com
Tom Zielecki appointed SVP, Chief Financial Officer
Troy Collings is promoted to Senior Vice President, Chief Information Officer
MINNEAPOLIS, May 09, 2022 (GLOBE NEWSWIRE) — iMedia Brands, Inc. (“iMedia”) (IMBI, IMBIL) today announced several leadership additions and promotions from within, including the appointment of Tom Zielecki as Vice Senior President, Chief Financial Officer, and the promotion of Troy Collings to Senior Vice President, Chief Information Officer.
“We believe we are at the start of a significant growth phase. We grew revenue 21% year-over-year in fiscal 2021, and we expect similar annual revenue growth in 2022. It’s critical that our small business team maintain the motivation and capabilities to continue to seize new opportunities and meet new challenges,” said Tim Peterman, CEO of iMedia Brands, “And I am proud to say that these frames are tested, passionate and ready.”
Tom Zielecki has been appointed SVP, Chief Financial Officer effective today. Mr. Zielecki is a seasoned omnichannel finance leader with over thirty years of experience in rapidly changing cultures, including sixteen years with Kmart/Sears Corporation, where his last role was CFO of multiple business units generating over $2 billion. dollars in annual sales. in Home Fashions, Jewelry, Outdoor Living, Toys & Seasonal. Immediately prior to joining iMedia, he was CFO of LTD Commodities brand, a direct-to-consumer cataloger. Mr. Zielecki began his career in public accounting at Deloitte & Touche in its assurance practice and at PriceWaterhouse in its mergers and acquisitions practice. He is a CPA and holds a BA in Accounting from Walsh College.
Troy Collings has been promoted to SVP, Chief Information Officer effective today. Since joining iMedia in June 2021 as Vice President of Technology, Mr. Collings has successfully led several critical technology projects, including the company’s Salesforce implementation, upgrades to the Sarbanes-Oxley compliance and, most recently, the move from ShopHQ to PayPal as a merchant processor. Prior to joining iMedia, Mr. Collings held numerous engineering, technology and leadership positions during his six years at Target and seventeen years at Cargill. He holds a BA in Computer Science and a BA in Accounting from the University of North Dakota.
iMedia also announced today that it has further strengthened its accounting, finance and technology teams with the following:
- Monty Wageman, previously Chief Financial Officer of iMedia, has taken on a new corporate finance role as Treasurer, where he will focus on working capital management, supplier relations and the rollout of the accounts payable function as as a shared service for all iMedia business units.
- Megha Manan joined iMedia in May 2022 as VP, Technology QA & Compliance. Ms. Manan has over seventeen years of experience navigating the complexities of software engineering through pragmatic and consistent oversight of quality assurance, automation and process improvement. Most recently, Megha spent nine years in senior engineering positions at Bluestem Brands. Megha holds a master’s degree in software engineering from North Dakota State University and a bachelor’s degree in management information systems from North Dakota State University.
- Matthew Barsness recently joined iMedia as VP of Technology and successfully leads the organization’s customer operations software engineering teams and processes that include customer service, credit, order management business functions , execution, merchandising and finance. Mr. Barsness has over twenty years of experience in increasingly senior technology roles, including eight years with Accenture and eleven years with Bluestem Brands. He holds a BS in Computer Science from the University of Minnesota.
- Sam Saman joins iMedia in May 2022 as Director, Accounting. Mr. Saman will play an important role in supporting the various responsibilities within the comptrollership function. He has over 17 years of experience, including increasing financial roles at Deluxe Corporation and Michael Foods. Mr. Saman holds an MBA in Finance from the Florida Institute of Technology and a BS in Accounting from Winona State University.
- Brent LaFrenz recently joined iMedia as Director, Finance, Planning and Analytics. Mr. LaFrenz is a seasoned finance professional with over 15 years of expertise in financial planning within matrix organizations, including 14 years with UnitedHealth Group/Optum. Brent holds an MBA from Colorado Technical University and a BA in Finance from Buena Vista University.
About iMedia Brands, Inc.
iMedia Brands, Inc. (IMBI) is a leading interactive media company capitalizing on the convergence of entertainment, e-commerce and advertising. The company has a growing global portfolio of entertainment companies, consumer brands and media commerce services that cross-promote and exchange data with each other to optimize their consumer engagement experiences and to position the company as the single most important partner for television advertisers and consumers. brands seeking to entertain and engage with customers.
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This document may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The Company often uses words such as anticipate, believe, estimate, expect, intend, seek, predict, hope, should, plan, will and similar expressions to identify forward-looking statements. These statements are based on management’s current expectations and, therefore, are subject to uncertainty and changes in circumstances. Actual results may differ materially from the expectations contained herein due to a variety of important factors, including (but not limited to): variability in consumer preferences, shopping behaviors, expenditures and levels of indebtedness; the general economic and credit environment, including COVID-19; interest rate; seasonal variations in consumer purchasing activity; the ability to achieve the most effective product category combinations to maximize sales and margin targets; competitive pressures on sales and sales promotions; prices and gross margins of sales; the level of cable and satellite distribution of the Company’s programming and associated fees or estimated cost savings resulting from contract renegotiations; the Company’s ability to establish and maintain acceptable terms of trade with third-party vendors and other third parties with whom the Company has contractual relationships, and to successfully manage key vendor relationships and shipments and develop key partnerships and proprietary and exclusive brands; the ability to successfully manage the Company’s operating expenses and working capital levels; the ability to remain compliant with the covenants of the Company’s credit facilities; customer acceptance of the Company’s brand strategy and its repositioning as a video commerce company; the ability to respond to changes in consumer buying habits and preferences, as well as changes in technology and consumer listening habits; changes to the Company’s management and information systems infrastructure; challenges to the security of Company data and information; changes in governmental or regulatory requirements; including, without limitation, Federal Communications Commission and Federal Trade Commission regulations, and adverse results of regulatory proceedings; litigation or governmental proceedings affecting the operations of the Company; significant events (including disasters, weather events, or events with significant television coverage) that either cause television coverage to be interrupted or divert viewers from its programming; disruptions in the Company’s distribution of its broadcast network to customers; the Company’s ability to protect its intellectual property rights; our ability to recruit and retain executives and key employees; the Company’s ability to attract new customers and retain existing customers; changes in shipping charges; expenses related to the actions of activist or hostile shareholders; the Company’s ability to offer new or innovative products and customer acceptance thereof; changes in customers’ television viewing habits; and the risks identified in point 1A (Risk Factors) of the most recent Form 10-K filed by the Company and any additional risk factors identified in its periodic reports since the date of this Form 10-K. More detailed information about these factors is set forth in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8. -K. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this announcement. The Company is under no obligation (and expressly disclaims any such obligation) to update or change its forward-looking statements, whether as a result of new information, future events or otherwise.