VANCOUVER, British Columbia, 2012-10-15 15:00 CEST (GLOBE NEWSWIRE) -- Coastal Contacts Inc. (TSX:COA) (Stockholm:COA) ("Coastal.com", "Coastal") one of the world's largest online retailers of eyeglasses and contact lenses announced today that it has appointed Mr. Neel Grover to Coastal's Board of Directors.
Mr. Grover served as the Chief Executive Officer and President of Rakuten Buy.com (formerly Buy.com) from May, 2006 until his departure in September, 2012 after having served as President and COO from September, 2003. Buy.com was acquired by Rakuten Inc., in May, 2010. Mr. Grover remains a Board Director of Rakuten Buy.com and Rakuten U.S.A. Mr. Grover also has experience with ThinkTank Holdings, a private equity management company, and the law firms of Brobeck, Phleger & Harrison LLP and Jones, Day, Reavis & Pogue.
Mr. Grover received his J.D., cum laude, from the University of San Diego School of Law and his B.A. in Economics from the University of California, Irvine, and resides in Laguna Beach California.
"We are delighted to have a seasoned e-commerce and social commerce leader with Neel's deep U.S. and international experience join Coastal's Board at this important time in the Company's development," stated Roger Hardy, Coastal's Founder and CEO. "His knowledge developing the U.S. market for Rakuten Buy.com will be invaluable as Coastal focuses on accelerating its rapidly growing eyewear business in this market."
Mr. Tushar Shah, Managing Partner of Kinderhook, LP has resigned his position on the Board. The Company thanked Mr. Shah for his time on the Board.
About Coastal Contacts Inc.
Coastal Contacts empowers customers to easily browse, try on and buy eyewear — with the goal of saving time, money and sanity. With every pair of qualifying frames purchased, Coastal Contacts donates a pair to someone in need through its Change the View project. Founded in 2000, Coastal Contacts designs, produces and distributes among the largest selection of eyeglasses and contact lenses on the Internet, including a unique combination of designer eyeglasses, contact lenses, sunglasses, and vision care accessories. Coastal Contacts serves customers in more than 150 countries through the Coastal Contacts family of websites including: Coastal.com, ClearlyContacts.ca, Lensway.com, Lensway.co.uk, Lensway.se, Lensway.com.br, ClearlyContacts.com.au, ClearlyContacts.co.nz, Contactsan.com, and Coastallens.com.
Forward Looking Statements
All statements made in this news release, other than statements of historical fact, are forward-looking statements. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "goal", "target", "should," "likely," "potential," "continue," "project," "forecast," "prospects," and similar expressions typically are used to identify forward-looking statements.
Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about our business and the industry and markets in which we operate. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict.
Persons reading this news release are cautioned that forward-looking statements or information are only predictions, and that our actual future results or performance may be materially different due to a number of factors. Reference should also be made to the section entitled "Risk Factors" contained in our most recently filed Annual Information Form dated December 14, 2011 for a detailed description of the risks and uncertainties relating to our business. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. These forward-looking statements are made as of the date of this news release and we expressly disclaim any intent or obligation to update these forward-looking statements, unless we specifically state otherwise and except as required by applicable law.
CONTACT: For Further Information:
Terry Vanderkruyk
Vice President, Corporate Development
Coastal Contacts Inc.
604.676.4498
terryv@coastal.com
or
Liolios Group Inc.
Scott Liolios or Cody Slach
Tel 949.574.3860
COA@liolios.com
