Primo Water Appoints Chief Operating Officer
WINSTON-SALEM, N.C., Dec. 10, 2012 (GLOBE NEWSWIRE) -- Primo Water Corporation
(Nasdaq:PRMW), a leading provider of multi-gallon purified bottled water and
related products, today announced that Matt Sheehan has joined the Company as
Chief Operating Officer, a newly-created position at the Company. Mr. Sheehan
will be responsible for overseeing the strategy and growth of the Company's
Mr. Sheehan was most recently with Coinstar, Inc. (Nasdaq:CSTR) where he was
instrumental in building the Redbox business, which was acquired by Coinstar
in 2008. Mr. Sheehan held several roles at Redbox/Coinstar, most recently, as
a Senior Venture Advisor, where he advised certain ventures within the
Coinstar portfolio on long-term strategy, retail and distribution execution,
and technology utilization. From 2008 to 2011, Mr. Sheehan built and led the
first Redbox automated retail venture as Vice President, General Manager.
"We are extremely pleased to have Matt join our team and believe his
experience in developing high growth services to retailers through solid
operational capabilities will be instrumental in executing our plans for
continued growth and achieving profitability," commented Billy D. Prim, Primo
Water's President and Chief Executive Officer. "His relationships across the
mass merchant industry will help us increase distribution as we focus on
growing our core water and dispenser businesses."
"I'm extremely excited to join the Primo team and I look forward to helping
them execute their strategies as I leverage my experience in developing retail
distribution relationships to increase growth long-term," said Mr. Sheehan.
Mr. Sheehan joined Redbox in 2005 as Director of Business Development and in
2006 became Vice President - Sales and Business Development, where he led the
Company's growth from 100 kiosks to over 20,000 kiosks across convenience,
mass merchant and supermarket stores. Significant clients included Wal-Mart,
Walgreens, 7-Eleven, HEB, Wegmans among others.
Mr. Sheehan earned a Bachelor of Business Management and Communications degree
at Bentley College in Waltham, MA, and an MBA from the Smeal College of
Business at Pennsylvania State University.
About Primo Water Corporation:
Primo Water Corporation is a leading provider of multi-gallon purified bottled
water, self-serve filtered drinking water, water dispensers and CO2 cylinders
sold through major retailers throughout the United States and Canada. Primo's
purified water and appliances can be found at over 20,000 retailers across
North America including, Walmart (NYSE:WMT), Lowes Home Improvement
(NYSE:LOW), Kmart (Nasdaq:SHLD), Kroger (NYSE:KR), HEB and many others. Learn
more about Primo Water at www.primowater.com.
The Primo Water Corporation logo is available at
Certain statements contained herein are not based on historical fact and are
"forward-looking statements" within the meaning of the applicable securities
laws and regulations. Generally, these statements can be identified by the use
of words such as "anticipate," "believe," "could," "estimate," "expect,"
"feel," "forecast," "intend," "may," "plan," "potential," "project," "should,"
"would," "will," and similar expressions intended to identify forward-looking
statements, although not all forward-looking statements contain these
identifying words. Owing to the uncertainties inherent in forward-looking
statements, actual results could differ materially from those stated here.
Factors that could cause actual results to differ materially from those in the
forward-looking statements include, but are not limited to, the loss of major
retail customers of the Company or the reduction in volume or change in timing
of purchases by major retail customers, lower than anticipated consumer and
retailer acceptance of the Company's exchange and refill services and its
water dispensers, changes in the Company's relationships with its independent
bottlers, distributors and suppliers, the entry of a competitor with greater
resources into the marketplace and competition and other business conditions
in the water and water dispenser industries in general, the Company's
experiencing product liability, product recall and higher than anticipated
rates of warranty expense or sales returns associated with a product quality
or safety issues, the loss of key Company personnel, changes in the regulatory
framework governing the Company's business, the Company's inability to
efficiently expand operations and capacity to meet growth, the Company's
inability to develop, introduce and produce new product offerings within the
anticipated timeframe or at all, the Company's inability to comply with its
covenants in its credit facilities, the failure of lenders to honor their
commitments under the Company's credit facilities, the Company's inability to
access sufficient capital to execute its business plans, as well as other
risks described more fully in the Company's filings with the Securities and
Exchange Commission, including its Annual Report on Form 10-K filed on March
15, 2012 and its subsequent filings under the Securities Exchange Act of 1934.
Forward-looking statements reflect management's analysis as of the date of
this press release. The Company does not undertake to revise these statements
to reflect subsequent developments, other than in its regular, quarterly
CONTACT: Mark Castaneda
Primo Water Corporation
Phone: (336) 331-4047
Primo Water Corporation Logo
Press spacebar to pause and continue. Press esc to stop.