Redbox operator Outerwall's CEO steps down

Reuters News
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Posted: Jan 20, 2015 10:10 AM

(Reuters) - Redbox video rental kiosk operator Outerwall Inc's Chief Executive J. Scott Di Valerio has stepped down, less than two years at the company's helm.

Board member Nora Denzel has been appointed interim CEO until a successor for Di Valerio is found, Outerwall said on Tuesday.

The company's shares fell as much as 12 percent to $68.25 in early trading on the Nasdaq.

Di Valerio, who joined Outerwall in 2010 as chief financial officer, has also resigned from the company's board.

Outerwall also estimated revenue of $598 million-$602 million for the fourth quarter. Analysts on average had expected $596.3 million, according to Thomson Reuters I/B/E/S.

Outerwall had earlier forecast revenue of $575 million-$605 million for the quarter.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Kirti Pandey)