Yellow Media Announces Appointment of Don Morrison to Board of Directors,
Releases Proxy Circular
MONTREAL, QUEBEC -- (Marketwired) -- 04/04/13 -- Don Morrison, former
Chief Operating Officer of Research in Motion (now BlackBerry) has
been appointed to the Board of Directors of Yellow Media Limited
(TSX:Y), as disclosed in the company's proxy circular released today
in connection with its annual meeting of shareholders to be held on
May 7, 2013.
Under his tenure, RIM expanded to more than 175 countries around the
world and fiscal year revenues grew from approximately $200 million
to nearly $20 billion. Mr. Morrison retired from RIM in 2011.
"Don's disciplined approach to operational excellence and the
tradition of success he built over his career make him a strong
addition to the Board of Directors of Yellow Media as we work with
the management team to deliver the company's digital transformation,"
said Robert MacLellan, Chairman of the Board.
In the circular, Yellow Media also stated that Marc P. Tellier, who
will be stepping down as President and Chief Executive Officer as
announced by the company last week, will not stand for re-election to
the company's Board of Directors. Yellow Media also disclosed details
of his separation agreement.
-- $4.3 million in separation pay based on Mr. Tellier's employment
agreement stipulating entitlement to 300% of the sum of both base salary
($825,000) and annual bonus for the preceding year ($606,000).
-- Annual pension of $455,086 beginning in 2033 when Mr. Tellier reaches 65
years of age.
"We applied the bonus commitments and employment terms of Mr.
Tellier's employment agreement which was struck in 2002," stated Mr.
MacLellan. "Our focus is now on continuing to move this company
forward by executing the established strategy and prioritizing the
naming of a new Chief Executive Officer to spearhead the
A search committee of the Yellow Media Board of Directors was
established to undertake the search for a new Chief Executive
Officer. Mr. Tellier shall remain with Yellow Pages Group to assist
with the transition process until his successor is named but will
step down no later than August 15, 2013.
About Yellow Media Limited
Yellow Media Limited (TSX:Y) is a leading media and marketing
solutions company in Canada. The Company owns and operates some of
Canada's leading properties and publications including Yellow
Pages(TM) print directories, YellowPages.ca(TM), Canada411.ca and
RedFlagDeals.com(TM). Its online destinations reach 9 million unique
visitors monthly and its mobile applications for finding local
businesses and deals have been downloaded over 5 million times.
Yellow Media Limited is also a leader in national digital advertising
through Mediative, a digital advertising and marketing solutions
provider to national agencies and advertisers.
Senior Manager, Public Relations
Amanda Di Gironimo
Senior Manager, Investor Relations
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