ShopNBC To Report Third-Quarter Results Nov. 18

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

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

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

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

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

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

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.”

ShopNBC Hires QVC Alum Bill McGrath As Vice President Of Quality Assurance

Bill McGrath

ShopNBC Tuesday named Bill McGrath, a 19-year home shopping veteran, vice president of quality assurance.

With nearly two decades of experience in the multi-channel retailing industry, McGrath is an operations and financial executive with global leadership experience, product quality assurance, and global sourcing, ShopNBC said in a press release.

“I am excited to be part of such a dynamic company,” McGrath said in a prepared statement. “ShopNBC represents the future of our industry, and I am looking forward to leveraging my expertise to further enhance its high-quality commitment to the customer.”

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 of corporate quality assurance and quality control; vice president merchandise operations and inventory control; vice president of market research and sales analysis; and director of financial planning and analysis.

Prior to QVC, McGrath held a variety of leadership positions at Subaru of America and Arthur Andersen. He holds an MBA from Drexel University.

“We are thrilled about Bill joining ShopNBC and becoming an important contributor to our organization as we strive to be world class in quality,” Mike Murray, ShopNBC senior vice president of operations, said in a prepared statement.

“Bill brings a wealth of product quality experience and supply chain expertise — from vendor manufacturing through custom
consumer packaging — that spans all our product categories and beyond,” Murray said. “His commitment to excellence and building strong partnerships will benefit our vendors, product offerings, and customers. We look forward to his impact on our efforts to continue lowering transactional costs while improving the customer experience.”