For more information, contact: Valley Media, Inc., 1280 Santa Anita Court, Woodland, CA 95776, Phone: 530 661 6600 Fax: 530 668 8454 www.valley-media.com.
Valley Media Announces Management Restructuring
A recognized leader in the full-line distribution of music and video entertainment products announces management restructuring. Melanie Cullen, Senior Vice President of Information Services since March of 1998, will assume the newly created role of Chief Operating Officer, responsible for Operations, Purchasing and Information Services. Ron Philips, Senior Vice President of Purchasing since March of 1998, will also report to Ms. Cullen. John Kordic, Senior Vice President of Operations since March of 1998, also will report to Ms. Cullen. Randy Cerf, Senior Vice President of Finance since March of 1998 and Chief Financial Officer since October of 1994, has been offered the newly created position of Senior Vice President of New Media and Business Development. This position will report to Rob Cain, President and CEO. The company is currently seeking a new CFO; Mr. Cerf will remain at his post until a replacement is found. Valley has asked Ken Alterwitz, Senior Vice President of Sales and Marketing, to assume new responsibilities with Valley in pursuit of its digital and global distribution initiatives. The company is seeking a new Senior Vice President of Sales and Marketing. ""I am confident that this new structure will help us refocus on our core competencies, improve our profitability and enable us to take full advantage of the opportunities we have,"" said CEO Rob Cain. ""Weíve spent the last couple of months reviewing our infrastructure and decided some changes are in order. This decision is an overwhelmingly positive development for Valley Media. Challenging, but positive."" About Valley Media: Valley Media (NASDAQ: VMIX) is a recognized leader in Internet fulfillment, the full-line distribution of music, video, and DVD product, independent distribution, publications and proprietary database product. Valley Media operates facilities in seven states with primary distribution facilities in Louisville, KY, and Woodland, CA, where its corporate headquarters are located. Additional information regarding Valley Media is available at www.valley-media.com.