QVC Promotes Paolo Penati to Lead QVC Italy

Nov 18, 2015, 09:00 ET from QVC

WEST CHESTER, Pa., Nov. 18, 2015 /PRNewswire/ -- QVC, the global leader in video and ecommerce retail, today announced the appointment of Paolo Penati to market leader of QVC Italy. Penati will be responsible for overseeing QVC's operations and growth in Italy, succeeding Gregg Bertoni, who has led QVC Italy since January 2014. This role will leverage Penati's experience and leadership in the Italian market. He will report to Steve Hofmann, EVP of International for QVC. Bertoni will become the president and CEO of CNR Mall, QVC's joint venture with China National Radio, where he will continue to build the business's growth in China.

"Since its launch in 2010, QVC Italy has become the market's leader in video and ecommerce retail and generated consistent revenue growth," said Hofmann. "During this time, Paolo has consistently demonstrated his ability to lead and inspire teams, has strengthened the QVC brand and has the right experience to build our brand awareness, drive growth of our customer base and contribute to and execute our enterprise strategy."

Penati previously served as CFO and vice president of merchandising, planning and programming for QVC Italy. He joined QVC Italy in 2010 to lead finance and subsequently added responsibilities for distribution, customer service and merchandising, programming and planning. Prior to joining QVC, Penati was the CEO of La Gardenia, a chain of perfumeries, and before that, the CEO of Blockbuster Italia.

"As QVC continues to expand, we are implementing a more global approach to operating our business that leverages our worldwide strengths and capabilities to position us for future growth," said QVC president and CEO Mike George. "Paolo's breadth of experience in leading successful teams and strengthening brand awareness combined with his knowledge of the Italian retail industry will position QVC Italy for continued success."

About QVC

QVC, Inc., a wholly owned subsidiary of Liberty Interactive Corporation (NASDAQ: QVCA, QVCB), is the world's leading video and ecommerce retailer. QVC is committed to providing its customers with thousands of the most innovative and contemporary beauty, fashion, jewelry and home products. Its programming is distributed to approximately 350 million homes worldwide through operations in the U.S., Japan, Germany, United Kingdom, Italy, France and a joint venture in China. Based in West Chester, Pa. and founded in 1986, QVC has evolved from a TV shopping company to a leading ecommerce and mobile commerce retailer. The company's website, QVC.com, is ranked among the top general merchant Internet sites. QVC, Q, and the Q Ribbon Logo are registered service marks of ER Marks, Inc.

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