SOURCE: RR Media

RR Media

February 09, 2015 08:14 ET

RR Media Bolsters Management Team, Names Yaron Ravkaie as Chief Business Officer

Experienced Businessman With Years of Experience to Assume Senior Role With RR Media

AIRPORT CITY BUSINESS PARK, ISRAEL--(Marketwired - Feb 9, 2015) - RR Media (NASDAQ: RRST), a leading provider of global digital media services to the broadcast industry, announced today that Yaron Ravkaie has been appointed to the position of Chief Business Officer, a new position within RR Media. The appointment significantly strengthens the company's management team, adding business operational expertise, designed to help the company continue to profitably grow its business.

"Yaron is an experienced and trusted leader with deep experience across all areas of an enterprise," said Avi Cohen, Chief Executive Officer. "With a proven track record of delivering results, he is exceptionally qualified to lead our day-to-day business execution as we strive to improve our overall performance."

Reporting directly to the Chief Executive Officer, Mr. Ravkaie will lead the Global Business Group (GBG), assuming responsibility and full ownership of the day-to-day business execution of the company including customer relationships, sales and business partners for RR Media's entire services portfolio.

For the last 16 years, Mr. Ravkaie has held senior positions at Amdocs, of which the last 15 years he spent in the United States. He brings broad management experience and a deep knowledge of service provider business, including global sales, delivery, on-going support and outsourcing deals, building and driving strategies, setup of new organizations as well as a proven ability to lead and grow a profitable ~$1 billion software products and services business. In his last role, Mr. Ravkaie created the Payments division for Amdocs, focusing on mobile payments. Prior to that, he held several leadership positions within Amdocs including President of a North American division focused on AT&T, including responsibilities for sales and systems implementation supporting the UVERSE Program.

"I believe RR Media is ideally positioned to take advantage of the evolution of digital entertainment," commented Mr. Ravkaie. "The growing diversity and expanding globalization of content, as well as trends toward consumption of digital content via an increasingly wide range of fixed and mobile devices, all demand the solutions and expertise RR Media provides. I am excited to join this innovative company, and look forward to contributing to the continued growth."

Mr. Ravkaie is a graduate of the Technion with a BSc degree in Industrial Engineering and Information Technology. He also has an MBA degree from Ben-Gurion University.

About RR Media
RR Media (NASDAQ: RRST) works in partnership with the world's leading media players to create the richest possible media and entertainment experiences for the world's consumers. RR Media's complete ecosystem of digital media services maximize the potential of media and entertainment content, covering four main areas: smart global content distribution network with an optimized combination of satellite, fiber and the internet; content management and channel origination; sports, news & live events; and online video services. RR Media provides scalable, converged digital media services to more than 650 channels and to leagues and right holders of over 100,000 hours of sports and live events yearly. The company delivers content to 95% of the world's population reaching viewers of multiplatform operators, VOD platforms, online video and direct-to-home services. Visit the company's website www.rrmedia.com

Safe Harbor Statement
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding (i) guidance for revenue and margins for 2014 or any other future periods; (ii) our expectations and ability to strengthen our offering and capabilities in order to allow us to accelerate our growth; (iii) our expectations to generate higher margins from our sports and events business compared to our other businesses ; (iv) our expectation that our sports and events business will be a major contributor to our growth and that the demand for this type of content will continue to increase globally; (v) our expectation and ability to further improve our margins over time by changing our product mix, coupled with more value-added services and better utilization of our infrastructure; (vi) our ability to continue to experience strong interest in our services, leading to new customer wins for our digital media broadcasting services and to report future successes; (vii) our expectation that our backlog will materialize into revenue on the projected timeline and (viii) our ability to continue to benefit from a strong business model, featuring a notable percentage of recurring revenues, long-term contracts, high renewal rate, a multi-year backlog, and strong free cash flow. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry as of the date of this press release. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements, including the risks indicated in our filings with the Securities and Exchange Commission (SEC). For more details, please refer to our SEC filings and the amendments thereto, including our Annual Report on Form 20-F for the year ended December 31, 2013 and our Current Reports on Form 6-K.

Contact Information

  • Company Contact:
    Shmulik Koren
    CFO
    Tel: +972 3 928 0777
    Email: Email Contact

    Investor Contact:
    Hayden/ MS - IR
    Brett Maas/ Miri Segal-Scharia
    Tel: 646-536-7331 / 917-607-8654