Cinram names Steven Brown CEO
PHYSICAL: Auto executive will try to reverse replicator's falling sales
By Danny King -- Video Business, 6/10/2009
JUNE 10 | PHYSICAL: Cinram International Income Fund has named Steven G. Brown chief executive officer of the disc replicator.
Brown will take over as the company’s chief on June 15, Cinram said in a statement yesterday. Brown had previously worked in the automobile-supply industry in both Europe and North America.
Brown succeeds David Rubenstein, who stepped down as CEO on March 31 after more than 15 years with the Toronto-based company. The new CEO will be charged with reversing declining sales trends caused largely by falling DVD demand in the U.S. Cinram said last month that its first-quarter loss widened after the company made 18% fewer DVDs than a year earlier.
Cinram, which was founded in 1969, went public in 1986. It converted to an income trust four years ago.
