LodgeNet (LNET) Splits Chair/CEO Role; Names New Chairperson
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LodgeNet Interactive Corporation (Nasdaq: LNET) announced that R. Douglas Bradbury, an independent director of the Company since 1999, has been appointed Chairperson of the Board of Directors, succeeding Scott C. Petersen, who remains as Chief Executive Officer and Board member.
In this regard, LodgeNet also announced today the resignation of independent director Edward L. Shapiro. Mr. Shapiro, a partner at PAR Capital Management, joined LodgeNet's Board in 2010. In addition to being a significant LodgeNet shareholder, Mr. Shapiro's firm also makes investments from time to time in various companies in the media, entertainment, and travel industries. In announcing his resignation, Mr. Shapiro informed the Board that his decision was not based on any disagreements with the company, and indicated that his intent is to eliminate any potential conflicts that could arise as a result of his service on the LodgeNet Board and his firm's other current or future investments. Mr. Shapiro said, "It has been a pleasure and privilege to serve on LodgeNet's Board and to help position the company for long-term success."
In this regard, LodgeNet also announced today the resignation of independent director Edward L. Shapiro. Mr. Shapiro, a partner at PAR Capital Management, joined LodgeNet's Board in 2010. In addition to being a significant LodgeNet shareholder, Mr. Shapiro's firm also makes investments from time to time in various companies in the media, entertainment, and travel industries. In announcing his resignation, Mr. Shapiro informed the Board that his decision was not based on any disagreements with the company, and indicated that his intent is to eliminate any potential conflicts that could arise as a result of his service on the LodgeNet Board and his firm's other current or future investments. Mr. Shapiro said, "It has been a pleasure and privilege to serve on LodgeNet's Board and to help position the company for long-term success."
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