News | May 9, 2012

The Retail Equation Adds Three Industry Veterans To Board Of Directors

Newly Added Leaders and Innovators Key Drivers of Company’s Future Growth

The Retail Equation, the industry leader in retail transaction optimization solutions, has named three new members with extensive retail analytics and technology advisory backgrounds to its board of directors, including Dr. Mark N. Greene, George W. Off and Dr. Charles W. Stryker. The addition of these executives will help The Retail Equation continue its rapid expansion throughout and beyond North America and broaden its development of innovative solutions for the retail market. Each will offer insights to expand the company’s solutions to help retailers better control fraud and shrink, improve predictive analytics and adopt new technology.

“During the past 24 months, The Retail Equation has more than doubled its client base, while our market has seen an industry-wide increase in return fraud and retail shrink, presenting ever greater opportunities,” said Mark Hammond, chairman and CEO for The Retail Equation. “Each new board member brings a specific level of expertise and leadership, which will be instrumental in helping The Retail Equation continue its path of rapid growth.”

Dr. Mark N. Greene was appointed to the board on April 1 and is the former CEO and current chair of the advisory board of Fair Isaac Corporation (NYSE: FICO), a company providing predictive analytics, credit scores, fraud detection and business rules management for the financial services and retail industries. Greene is also a director of Neustar (NYSE: NSR) and Capella Education Company (NASDAQ: CPLA). Prior to these leadership roles, Greene was general manager of the banking industry vertical market segment for IBM Corporation.

George W. Off joined the board on January 1. He retired as chairman of the board of Checkpoint Systems Inc. in 2009. Off also served as CEO for Checkpoint Systems, a manufacturer and marketer of solutions for retailers in more than 32 countries. Prior to Checkpoint Systems, Off was founder, chairman and CEO of Catalina Marketing Corporation, a multinational company providing targeted marketing solutions for consumer goods companies, pharmaceutical manufacturers and retailers.

Dr. Charles W. Stryker is the founder and president of Venture Development Center, Inc. (VDC), a professional advisory firm assisting companies in creating, developing and commercializing new products in the information services industry. Prior to founding VDC, he was president of InfoUSA. Stryker has served on a number of public and private boards and joined The Retail Equation on April 1. His board appointments have included: 24/7 RealMedia, Greenfield Online, Intelliquest, Inc., MyLife.com, Geoscape, RDC, and Datamyx.

About The Retail Equation
The Retail Equation, headquartered in Irvine, Calif., optimizes retailers’ revenue and margin by shaping behavior in every customer transaction. The company’s solutions use predictive analytics to turn each individual shopper visit into a more profitable experience. This yields immediate financial payback, increasing store comps by as much as two percent, with significant return on investment. The Software-as-a-Service applications operate in more than 20,000 stores in North America, supporting a diverse retail base of specialty apparel, footwear, hard goods, department, big box, auto parts and more. For more information, visit www.theretailequation.com.

SOURCE: The Retail Equation

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