Rewards Network Inc., one of the nation’s leading providers of loyalty and rewards programs to the restaurant industry, announced that it has entered into an employment agreement with Ronald L. Blake, its President and Chief Executive Officer. The agreement was filed earlier today in a Form 8-K with the Securities and Exchange Commission.
Rewards Network also announced that Blake has been appointed to the Company’s Board of Directors. Additionally, Donald J. Liebentritt, President of Equity Group Investments, L.L.C. (EGI), and Nils E. Larsen, a Managing Director of EGI, have been appointed to the Company’s Board of Directors. Liebentritt will serve as the Board’s Non-Executive Chairman, replacing Samuel Zell, who has stepped down effective today. These changes increase the Company’s Board of Directors from eight members to ten.
“In a short period of time, Ron has shown the ability to effect positive change,” said Samuel Zell, the Board’s outgoing Chairman. “Under Ron’s leadership, we believe Rewards Network is positioned well for the future.”
Don Liebentritt has served as the President of EGI since May 2000, prior to which he was Executive Vice President and General Counsel of EGI. Liebentritt currently also serves on the board of directors of Home Products International, Inc. and Adams Respiratory Therapeutics, Inc. Nils Larsen has served as a Managing Director of EGI since 2001. From 1995 to 2001, Larsen held various other positions within EGI. Larsen currently serves on the board of directors of American Commercial Lines Inc.
About Rewards Network
Rewards Network, headquartered in Chicago, Illinois, provides loyalty and rewards programs for restaurants 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 June 30, 2005, Rewards Network had 3.6 million active member accounts and 10,376 restaurants in its rewards programs. Rewards Network’s common stock trades on the American Stock Exchange under the symbol IRN. Additional details about Rewards Network can be found at [www.rewardsnetwork.com] or by calling Rewards Network at 1-877-491-3463.