BELLEVUE, WA -- Coinstar Inc. said Gregg Kaplan, its president and chief operating officer and founder of its Redbox DVD rental unit, will be leaving. The company also named a new Redbox president.
Kaplan founded Redbox in 2002 by installing a few kiosks in McDonald's restaurants. Coinstar acquired the business in 2009, and today operates more than 38,000 DVD-rental machines nationwide. Kaplan, who was also Redbox's interim president, will continue in his role until March 31 and assist in the transition.
Anne Saunders will be Redbox's new president, effective Aug. 27. She will report to Coinstar chief executive Paul Davis.
Coinstar, which also operates coin-counting machines, generates most of its revenue and has driven most of its growth from its Redbox DVD-rental kiosks.
Saunders most recently served as executive vice-president and chief marketing officer at Knowledge Universe and has held leadership positions at Bank of America Corp., Starbucks Corp. and AT&T Inc.
The New York Post reported last week that Coinstar is in talks with a private-equity firm about a potential sale. It is also expanding its vending service range with Rubi single-cup coffee in conjunction with the Seattle's Best unit of Starbucks. | SEE STORY