Rimage names Peter Shutte as VP of Business Development for Qumu
Jan 08, 2013 (M2 EQUITYBITES via COMTEX) --
Rimage Corporation (NASDAQ:RIMG), a provider of disc publishing solutions, on Monday named Peter Shutte as VP of Business Development of Qumu, reporting to Vern Hanzlik, SVP of the company and general manager of Qumu, the company's enterprise video and digital publishing software business.
With over two decades of sales and business development experience with enterprise software and Software as a Service (SaaS) companies, Shutte most recently was general manager of Cloud Services and Partnerships at Looxcie in charge of OEM relationships and bringing Looxcie Live to market.
Earlier Shutte served as VP of Business Development and then VP of Sales at Sajan Inc and before that was with WebEx, where he ran the Enterprise Sales group. He has been consulting and advising start-up organisations in the San Francisco Bay Area over the past year prior to joining Qumu.
Additionally, the company said it will grant an employment inducement award to Shutte, as defined by NASDAQ Marketplace Rules, comprising a nonqualified stock option to buy 50,000 shares of its common stock on 7 January 2013, which will have an exercise price equal to the fair market value of Rimage's common stock on the date of the grant.
Also, these shares with a term of seven years will vest in four equal installments on each of the first four anniversaries of the date of grant and will be granted outside the existing Rimage equity incentive plans as approved by the Compensation Committee of its board of directors and was granted under NASDAQ Listing Rule 5635(c)(4).
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