RLJ ENTERTAINMENT, INC. (NASDAQ:RLJE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 6, 2018, RLJ Entertainment, Inc., a Nevada corporation, (the “Company”), RLJ Entertainment, Inc. (the “Company”) received a written notice of Nazir Rostom’s resignation as the Company’s Chief Financial Officer to pursue another business opportunity.Mr. Rostom’s resignation, effective May 11, 2018, is not the result of any dispute or disagreement with the Company on any matter relating to the Company's operations, policies or practices.The Company has initiated an external search for a full-time successor as CFO.
Effective May 11, 2018, Mark Nunis will act as the Principal Financial and Accounting Officer of the Company.In connection with Mr. Nunis’ appointment, there was no change in his current compensation.
Mr. Nunis, age 51, has 26 years of accounting, audit, and financial reporting experience in a variety of industries.Mr. Nunis joined the Company as Chief Accounting Officer in January 2013.He served as Principal Financial and Accounting Officer from November 2015 until May 2016, following the resignation of the previous CFO.Prior to joining the Company, Mr. Nunis was an audit partner with J.H. Cohn LLP from January 2006 to January 2013.From May 2002 to January 2006, Mr. Nunis was a founder and partner of accounting firm, Croutch Nunis Matthews, LLP (or CNM).Prior to CNM, Mr. Nunis worked in the audit practice of Arthur Anderson for 10 years.
About RLJ ENTERTAINMENT, INC. (NASDAQ:RLJE)
RLJ Entertainment, Inc. (RLJE) is a global entertainment content distribution company. RLJE is a film and television licensee focusing on action, thriller and horror independent feature films. RLJE operates through three segments: Intellectual Property (IP) Licensing; Wholesale, and Direct-to-Consumer. The IP Licensing segment includes IP rights that the Company owns, produces and then exploits in various formats, including digital versatile disc, Blu-ray, digital, broadcast, video on demand, streaming video, downloading and sublicensing. The Wholesale segment exploits the content to third parties, such as Walmart, Best Buy, Target, Amazon and Costco, while the Direct-to-Consumer segment distributes directly to the consumer through different exploitation channels. The Direct-to-Consumer segment distributes film and television content through its subscription-based, digitally streaming channels (Acorn TV and Urban Movie Channel (UMC)), its e-commerce Websites and mail-order catalogs.
