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DALLAS -- Following the lead of former 7-Eleven Inc. president and CEO Jim Keyes -- now, Blockbuster Inc.'s new chairman and CEO -- two other former 7-Eleven executives are coming on board with the movie and game entertainment provider.
Blockbuster announced Tuesday the hiring of Keith Morrow as chief information officer and David Podeschi as senior vice president, merchandising, distribution and logistics. Morrow most recently was the chief information officer and senior vice president of information systems at 7-Eleven, where he oversaw the company's North American information technology activities. Podeschi most recently was 7-Eleven's senior vice president of merchandising and logistics, the Dallas Business Journal reported.
Keyes, a 21-year veteran of 7-Eleven who assumed the top spot at Blockbuster in July, said he's delighted to have his old colleagues join Dallas-based Blockbuster. Both worked with Keyes when he was at the helm of 7-Eleven, also headquartered in Dallas.
Keyes also said in a statement that Morrow and Podeschi's "extensive experience in their respective fields, their creative approach to providing business solutions and their proven leadership skills should greatly contribute to our efforts to transform Blockbuster into a brand that can deliver media content to consumers in an ever-growing variety of ways."
Additionally, Blockbuster reported in a news release that its chief operating officer Nick Shepherd is leaving the company at the end of September. Shepherd's reasons for leaving were not disclosed. He had agreed to act as a consultant for the company through Dec. 31 on an as-needed basis, according to a Tuesday filing with the Securities and Exchange Commission. Shepherd will receive a severance payment of $831,333, $400,000 of which will be paid on Sept. 30 and the rest will be paid on March 30, 2008.