Originally published January 3, 2013 at 2:16 PM | Page modified January 4, 2013 at 6:43 AM
Coinstar CEO Davis to retire
Bellevue-based Coinstar said Thursday that Chief Financial Officer Scott Di Valerio will take over as CEO and chairman on April 1.
Seattle Times business reporter
Stuart Isett/The New York Times
Paul Davis, chief executive of Coinstar, uses one of the company's automated coffee kiosks.
Bellevue-based Coinstar is about to get a new CEO.
The Redbox corporate parent said Thursday that Chief Executive Paul Davis will retire on March 31 after four years in the top post.
His replacement will be Coinstar Chief Financial Officer Scott Di Valerio, who also will take over Davis’ position as board chairman.
Di Valerio, 50, became Coinstar’s CFO in March 2010 after helping the company through “transition matters” for several months. He previously was president of the Americas for personal computer maker Lenovo Group and held senior positions at Microsoft, including corporate vice president of the OEM division.
Coinstar said Di Valerio will be paid an annual base salary of $750,000, starting April 1, plus performance-based bonuses and up to $2 million in stock options and awards.
Davis, 55, a former president of Starbucks North America, joined Coinstar in April 2008 as chief operating officer and became CEO a year later.
Galen Smith, 36, currently senior VP of finance at wholly owned subsidiary Redbox, will replace Di Valerio as Coinstar’s CFO.
Amy Martinez: 206-464-2923 or amartinez@seattletimes.com
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