VANCOUVER, British Columbia, May 3, 2010 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. (TSX:COA) (Stockholm:COA) ("Coastal Contacts"), the leading online retailer of contact lenses and prescription eyeglasses, today announced that it has named Bo Wanghammar as Interim CEO of its wholly owned European subsidiary, Lensway . In 1994 Mr. Wanghammar co-founded and became CEO of Algonet AB, Sweden's first independent Internet service provider (ISP). By 1997 Algonet had grown to a base of 115,000 customers and had 120 employees. The company was sold to Telenordia. Most recently Mr. Wanghammar held the position of COO with Bwin Games AB, the Swedish subsidiary of the world's largest publicly listed online gaming company. Bwin Games AB has a complement of approximately 400 staff and Mr. Wanghammar had primary responsibility for product and systems development. Prior to Bwin Games AB, Mr. Wanghammar held the position of CFO/COO with Metro Sweden, a leading newspaper group. His responsibilities included finance, legal, HR, IT, premises and production. In addition, Mr. Wanghammar has held senior management and consulting positions in a variety of successful internet, telecom and technology enterprises. "We are pleased to have Bo join our team and lead the Lensway operation. His background in consumer focused high growth businesses is ideally suited as we transition to the next level of market penetration and brand awareness," stated Mr. Roger Hardy, Coastal's President and CEO. "Lensway is the leading online provider of optical products in Europe and we are excited to extend that market position by aggressively entering new markets and broadening our product offering." About Coastal Contacts: Coastal Contacts Inc. is the world's leading direct-to-consumer vision products company which designs, produces and distributes a diversified offering of contact lenses and eyeglasses. The Company's unique combination of branded and private label products represent quality, value and above all, service. Coastal sells into more than 150 countries through proprietary web properties which reflect the culture and consumer preference of the target market. As new markets for eyeglasses and contact lenses evolve, the Company is positioned to become the vision product consumer's retailer of choice owing to its compelling value proposition combining value and service. A leader in many of its markets, Coastal is rapidly advancing toward its goal of becoming the "World's Optical Store". 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 January 29, 2010 and in the NASDAQ OMX Stockholm listing prospectus dated October 14, 2009, as filed on Sedar and with the Swedish Financial Supervisory Authority, 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: Coastal Contacts Inc. Terry Vanderkruyk, Vice President, Corporate Development 604.676.4498 terryv@coastalcontacts.com
Coastal Names Interim CEO to Lead European Operation
| Source: Coastal Contacts Inc