ValueVision Media Inc., which operates the ShopNBC 24-hour TV shopping brand, has named Carol Steinberg as its new chief operating officer, the company said Tuesday.
Steinberg joined the Eden Prairie-based company in 2009 and was appointed executive vice president of Internet, marketing and human resources last year. Steinberg's base salary has been increased to $420,000, and her target bonus has been increased to equal 65 percent of her base salary, according to a filing with the Securities and Exchange Commission. She also received a grant of 30,000 shares of restricted stock that will vest over two years.
ShopNBC sells everything from watches and handbags to consumer electronics and competes with QVC and HSN.
The company has struggled for years, and has been working to broaden its product mix and expand its consumer electronics team. It lost $3.8 million in the second quarter ended July 28 on sales of $135.2 million partly on declines in consumer electronics.
Jennifer Bjorhus • 612-673-4683