Rewards Network Hires Ron Blake as New Chief
Loyalty marketer Rewards Network, Inc. has named Ron Blake as president and CEO.
Blake replaced George S. Wiedemann, who resigned to pursue other interests. The company expects to announce a loss for the first quarter of this year in part because of a severance package arrangement for Wiedemann.
Most recently, Blake was chairman and CEO of Willis Stein Telecom Acquisition Corp. He began his new post at Rewards Network on March 29.
Initially, Blake, 49, plans to assess the company’s situation, since he is new to the loyalty marketing industry. He plans to talk with employees, customers, and partners as part of that process, ultimately determining the most appropriate strategy to create value for the firm, company spokesman Chris Curtis said.
“Already he believes the company has a unique competitive advantage in its underlying technology infrastructure and a dedicated, quality group of employees,” Curtis said. “Armed with those assets, Blake is confident he and his team can refocus the company on what matters, returning Rewards Network to profitable growth.”
The company had nearly flat revenues in 2004. Total operating revenues from Oct. 1 to Dec. 31 were $22.6 million, a decrease of 8.2% compared with $24.6 million in the same period the previous year. Sales for the quarter were $82 million, an 8.1% decrease from $89.2 million.
Blake also spent more than 20 years in senior leadership positions at Ameritech, including as president of several Ameritech divisions and Treasurer of Ameritech. After Ameritech, Blake served as president of SBC Telecom, and as chairman, president and CEO of Orius Corp, a network and infrastructure firm.
Chicago-based Rewards Network provides loyalty and rewards programs for restaurants and hotels via its registered credit card platform. Incentives are offered through the Rewards Network branded program, airline frequent flyer dining programs, club memberships and other affinity organizations.
As of Dec. 31, Rewards Network had 3.8 million active member accounts, 10,514 restaurants and 11,321 hotels participating in its rewards programs.
