Tags: DVD Kiosks
8/01/11
 
According to the Los Angeles Times, redbox President Mitch Lowe, resigned unexpectedly as redbox parent Coinstar reported early results for Q2 2011 that did not meet Wall Street predictions — after which Coinstar stock dropped 10 percent in after-hours trading.
Lowe, previously a founding exec at redbox rival Netflix, has been with the company since it was owned by McDonald's and had only about 12 DVD-rental kiosks, so his departure took executives at Hollywood studios that worked with redbox by surprise, the Times reported.