Archive for the ‘Bill McGrath’ Category

ShopNBC To Report First-Quarter Earnings May 11

April 21, 2011

ValueVision Media, dba ShopNBC, will release its first-quarter financial results before the market opens May 11, the company said Thursday.

The home shopping network will host a conference call and simultaneous webcast at 11 a.m.

Participating in the call will be CEO Keith Stewart, President Bob Ayd and Chief Financial Officer Bill McGrath.

Both the call and webcast are open to the general public.

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ShopNBC To Report Fourth-Quarter Earnings On St. Patricks Day, Our Parents’ 60th Anniversary

March 2, 2011

Bob Ayd

Isn’t this special, for those of us of Irish descent?

ShopNBC will announce its fourth-quarter results March 17 — St. Patty’s Day, which just happens to be our mom and dad’s 60th wedding anniversay — at 11:00 a.m.

ShopNBC, also known as ValueVision Media, will release its fiscal 2010 fourth quarter and full year results before the market
opens, and will host a conference call and simultaneous webcast at 11 a.m. ET.

CEO Keith Stewart, president Bob Ayd and CFO Bill McGrath will participate in the call. We hope covering this call doesn’t put a damper on our celebrating (St. Paddy’s and Ida and Jim’s anniversary).

Both the call and webcast are open to the general public.

WEBCAST/WEB REPLAY: https://e-meetings.verizonbusiness.com. Conference number 1548956 (passcode: SHOPNBC; archived for 30 days)

TELEPHONE: 800-988-9672 (passcode: SHOPNBC; keypad: 7467622)

ValueVision Media, Namely ShopNBC, To Present at Sidoti Micro-Cap Conference

December 27, 2010

ValueVision Media, which we know as ShopNBC, will do a presentation at the Sidoti & Co. Micro-Cap Conference Jan. 10, the company said Monday.

CEO Keith Stewart and chief financial officer Bill McGrath will do the dog-and-pony show at the Grand Hyatt Hotel in New York City.

ShopNBC’s presentation will be at 2:50 p.m. ET. Management will also be available earlier in the day for one-on-one meetings (anyone want to meet Keith and Bill?).

A copy of the home shopping networks’ presentation slides will be available on the Investor Relation section of its website at http://www.ShopNBC.com/IR.

ShopNBC To Report Third-Quarter Results Nov. 18

November 8, 2010

ShopNBC will discuss its third-quarter earnings during a conference call Nov. 18 at 11 a.m., the network said Monday.

The company will release its third quarter 2010 results the morning of the conference call.

Participating in the call will be CEO Keith Stewart, president Bob Ayd and chief financial officer Bill McGrath.

ShopNBC To Report Second Quarter Earnings Aug. 18

August 11, 2010

ShopNBC will discuss its second quarter earnings during a conference call Aug. 18 at 11 a.m.

The company will release its second quarter results the morning of the conference call.

ShopNBC CEO Keith Stewart, president Bob Ayd and chief financial officer Bill McGrath will be on the call.

ShopNBC’s New Chief Financial Officer Bill McGrath Is Getting $250,000 Base Pay, Potential 40 Percent Bonus, Stock Options And A Silver Parachute

August 6, 2010

William McGrath, who was made permanent ShopNBC chief financial officer this week, will get a pay increase, to $250,000, as well as receive stock options and a year’s pay severance if his job is eliminated — or perhaps if the home shopping channel is sold.

In a Securities and Exchange Commission filing Friday, ShopNBC said QVC veteran McGrath, 52, “received an increase in his annualized base salary to $250,000, and a one-time salary adjustment payment reflecting his period of service as interim CFO.” His prior base salary was $175,000.

McGrath had been interim CFO since February.

In addition, McGrath “received stock options to purchase 55,000 shares of common stock at an exercise price equal to the closing price ($1.82) for our common stock on the NASDAQ Global Market System on Aug. 2, 2010, the date of grant. The options vest in equal installments over three years and are exercisable for a period of ten years from the date of grant, subject to certain limitations,” according to the filing.

McGrath will also have a target bonus opportunity equal to 40 percent of his base salary, based on ShopNBC’s management incentive plan.

He is eligible to receive 12 months base salary “due to lay-off, job elimination, restructuring or other reasons other than for cause during the first 12 months after the effective date,” the filing said.

McGrath is entitled to receive 12 months base salary and 12 months subsidized medical coverage under COBRA for termination due to lay-off, job elimination, restructuring or other reasons other than for cause.

Financially Ailing ShopNBC Makes QVC Veteran McGrath Permanent CFO

August 2, 2010

Bill McGrath

After serving as chief financial in an interim position, William McGrath Monday was officially named ShopNBC chief financial officer and senior vice president.

QVC alum McGrath has more than 20 years of multi-channel industry expertise as well as global operations and financial leadership experience. He joined ShopNBC in January as vice president of quality assurance and was named interim chief financial officer in February, replacing Frank Elsenbast, who left the company.

Prior to joining ShopNBC, McGrath served as vice president global sourcing operations and finance at QVC. During his tenure at QVC, he also served as vice president corporate quality assurance and quality control; vice president merchandise operations and inventory control; vice president market research and sales analysis; and director financial planning and analysis.

Previously, McGrath held a variety of financial leadership positions at Subaru of America, and Arthur Andersen. He holds an MBA in Finance from Drexel University, and a BS in Accounting from Saint Joseph’s University.

“Bill brings over two decades of diverse financial and operational leadership experience in his appointment as our CFO,” ShopNBC CEO Keith Stewart said in a canned statement. “He has the right balance of industry financial acumen along with practical domestic and international operations experience that uniquely positions him for this role. Bill is an invaluable addition to the management team, and we very much look forward to his continued contributions and keen insights in driving the business.”

McGrath obviously knows where his bread is buttered, and kissed up to the boss.

“It is a pleasure to work with such a veteran leadership team and talented group of team members at the company,” he said in his canned statement. “I look forward to helping ShopNBC meet its goals of delivering shareholder value today and tomorrow.”

ShopNBC To Report First-Quarter Earnings May 19

May 12, 2010

ShopNBC will release its first-quarter earnings next Wednesday, May 19, officials said Wednesday.

The company discuss its results during an 11 a.m. conference call. Participating in the call will be ShopNBC CEO Keith Stewart, ShopNBC president Bob Ayd and Bill McGrath, ShopNBC’s interim chief financial officer and vice president of quality assurance.

QVC and HSN reported their first-quarter results last week.

ShopNBC To Report Fourth Quarter Earnings March 16

March 9, 2010

ShopNBC will discuss its fiscal fourth quarter and full year 2009 results in a conference call March 16, the company said Tuesday.

The company will release its earnings the morning of the conference call, which will take place at 11 a.m.

Participating in the call will be ShopNBC CEO Keith Stewart, ShopNBC president Bob Ayd, and Bill McGrath, ShopNBC interim chief financial officer and vice president of quality assurance.

ShopNBC CFO Elsenbast Resigns To Join New Company, McGrath Named Interim CFO

February 23, 2010

ShopNBC senior vice president and chief financial officer Frank Elsenbast resigned Monday, and is leaving the network to accept a chief financial officer position at another public company, officials said Tuesday.

The executive search firm Spencer Stuart will begin looking immediately for a replacement for Elsenbast, who will remain with
ShopNBC for an interim period to ensure an orderly transition in responsibilities. ShopNBC’s press release didn’t disclose where Elsenbast was going.

ShopNBC's interim CFO Bill McGrath

ShopNBC has appointed Bill McGrath, 52, ShopNBC’s vice president of quality assurance and former vice president of finance and global sourcing of QVC, as interim CFO. McGrath will assume financial management functions until a new chief financial officer is named.

“I have enjoyed my time at ShopNBC,” Elsenbast said in a canned statement. “I have been fortunate to work with a wonderful group of people, and I wish everyone all the best for continued success.”

McGrath joined ShopNBC Jan. 7. Most recently, McGrath served as vice president of global sourcing operations and finance at QVC. During his tenure at QVC, he also served as vice president corporate quality assurance and quality control, vice president merchandise operations and inventory control, vice president of market research and sales analysis, and director financial planning and analysis.

Prior to QVC, McGrath served at Subaru of America as assistant corporate controller and Arthur Andersen as senior auditor. He earned an MBA in Finance from Drexel University and a BS in Accounting from St. Joseph’s University. McGrath is also certified as a CPA and CMA.

According to an 8-K filed Tuesday by ShopNBC, McGrath old compensation terms of will remain in effect while he is serving as interim chief financial officer. He received a signing bonus of $20,000, and his current annualized base salary is $175,000. He also received stock options to purchase 45,000 shares of common stock at an exercise price of $4.97, equal to the closing fair market value per share as of the date of grant. The options vest in equal installments over three years and are exercisable for a period of 10 years from the date of grant.

“Frank has been a valued partner as CFO during his tenure and played an important role since joining the company in 2000,” ShopNBC CEO Keith Stewart said in a prepared statement. “I’d like to thank him for his dedicated service and many contributions to ShopNBC. We wish him well in his future endeavors.”