Playboy Enterprises, Inc. Announces Appointment Of Paul H. Lee As Managing Director Of New Digital Ventures
CHICAGO - Playboy Enterprises, Inc. (PEI) (NYSE: PLA, PLAA) announced that Paul H. Lee has been named managing director of new digital ventures. In his new position, Lee, 35, will be responsible for launching, acquiring, partnering with, and investing in new digital business opportunities. He joins PEI from the Peacock Equity Fund, a joint venture between NBC Universal and GE Capital, where he currently serves as senior vice president. He will assume his new duties on May 17, 2010.
“Paul’s investment experience and expertise with digital business development make him the perfect choice to oversee our new digital initiatives,” said Scott G. Stephen, executive vice president of PEI’s Print/Digital Group. “His keen ability to build 21st century companies from inception to growth will help us further leverage the power of the brand and build new revenue streams for Playboy.”
“The Playboy brand presents many opportunities to create additional revenue streams,” Lee said. “By combining new digital business models and the iconic nature of the brand, Playboy can significantly expand its digital footprint and I am excited to lead this effort.”
Lee was a founding member of the Peacock Equity Fund in 2007. As a deal partner, he focused on investments in the mobile and gaming sectors. Peacock Equity’s investments include 4INFO, Adify, Bigpoint, Blogher, Greystripe, Healthline, Ramp, and Rubicon Project. Lee serves on the board of directors in several Peacock Equity investments.
He began his career with Accenture in 1997 and held a series of increasingly responsible positions in the media and technology industries before joining the Peacock Equity Fund.
Scott Flanders, PEI’s chief executive officer, said: “Digital media is poised to be a significant growth driver for Playboy. Paul’s knowledge, experience, and network will enable him to identify and execute new digital business ventures for the company that can further monetize our rich editorial content and superior consumer brand awareness.”
Lee holds a Master of Business Administration from the Anderson School of Management at the University of California, Los Angeles and a bachelor’s degree in Mathematical Methods in Social Science and Economics from Northwestern University. He will be based at the company’s headquarters in Chicago.
Playboy is one of the most recognized and popular consumer brands in the world. Playboy Enterprises, Inc. is a media and lifestyle company that markets the brand through a wide range of media properties and licensing initiatives. The company publishes Playboy magazine in the United States and abroad and creates content for distribution via television networks, websites, mobile platforms and radio. Through licensing agreements, the Playboy brand appears on a wide range of consumer products in more than 150 countries as well as retail stores and entertainment venues.
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