Jonathan Hsu Joins RecycleBank as Chief Executive Officer

NEW YORK, July 28 /PRNewswire/ -- RecycleBank, the premier green rewards program that motivates people to take environmental actions, announced today that veteran media and Internet executive Jonathan Hsu has been named Chief Executive Officer of the Company. Mr. Hsu was most recently Chief Executive Officer of 24/7 Real Media, the leaders behind the science of digital marketing and part of WPP, the world leader in marketing communications. Hsu is an accomplished international business leader who brings years of media, marketing and Internet expertise to RecycleBank.

"RecycleBank is thrilled to be able to attract a leader like Jonathan to the Company," said Ron Gonen, Co-Founder of RecycleBank. "Jon's extensive media and marketing background will allow RecycleBank to significantly accelerate our global growth and expansion plans, and will be an incredible asset in recruiting the world's leading brands to join the movement to motivate individuals and communities to engage in positive green actions."

"RecycleBank has accomplished a great deal in its relatively short history; they've built a large community of engaged members that are motivated to have a positive impact on the environment," Hsu said. "Now is the perfect time to bring this momentum to a broader audience, as green initiatives are becoming a mandatory element of any successful brand's marketing strategy. There is extraordinary opportunity for brands to join RecycleBank's mission to motivate green actions and create incredible value for our Members, partners, employees and shareholders. I certainly look forward to the journey ahead."

"The Board and the leadership team of RecycleBank could not be more thrilled at the choice of Jonathan Hsu as Chief Executive Officer," said Stuart Ellman, co-founder of RRE Ventures and the RecycleBank Board member who led the search process. "He comes to us from a world leader in media marketing and communications at a time where corporations are realizing their ability and responsibility to effecting change on our environment. We look forward to building on RecycleBank's track record of innovation and positive environmental impact together."

This leadership evolution comes at an important time for RecycleBank. The company has had a tremendous impact on the environment to date -- the material recycled by the households it services has saved cities tens of millions of dollars annually in landfill disposal fees, and has saved over 1.5 million trees and millions of gallons of oil. RecycleBank wants to expand this to a global level, using the digital medium to grow its community, deepen engagement among members and build meaningful marketing partnerships with brands like Coke, Nature Made, Kashi and Yoplait. To catalyze this growth, Mr. Hsu will work with RecycleBank to introduce green rewards programs to the WPP client base and other eco-conscious brands, and roll out new product offerings that will enable municipalities and partners to innovate from a sustainability point of view. Mr. Hsu will officially take office on October 4, 2010.

About RecycleBank

RecycleBank® motivates people to take greener actions and rewards consumers with points that can be redeemed at participating local and national business partners. Through collaboration and innovation, RecycleBank is helping to create a culture that encourages people to take simple steps towards greener lifestyles like residential recycling, electronic-waste recycling, home energy conservation and more. We believe that making greener choices shouldn't at all feel like a trade off—it should be a trade up—and RecycleBank rewards its members every step of the way. RecycleBank currently provides service to over one million people across the U.S. and the U.K. and has been recognized with a number of business and environmental awards, including being named as a Technology Pioneer by the World Economic Forum, as a Champion of the Earth by the United Nations Environmental Programme, and for Outstanding Excellence in Public/Private Partnerships from the U.S. Conference of Mayors. RecycleBank is headquartered in New York City. For more information, visit www.RecycleBank.com.

Jonathan K. Hsu Bio

Jonathan K. Hsu was the former Chief Executive Officer of 24/7 Real Media, the leading global digital marketing company whose award-winning Open AdStream® ad management technology powers more than 45,000 web sites to deliver over 800 billion ads, including 24/7 Real Media's proprietary global ad network, reaching approximately 200 million unique visitors across three continents. Since its acquisition by WPP in 2007, 24/7 Real Media is now driving the digital technology strategy across the world's largest marketing company.

SOURCE RecycleBank