Meade Rudasill to Join QVC as Chief Operating Officer; Executive Promotions Round Out Organizational Changes

Meade Rudasill to Join QVC as Chief Operating Officer; Executive Promotions Round Out Organizational Changes

WEST CHESTER, Pa., Jan. 16 /PRNewswire/ -- QVC, Inc. announced today that Meade Rudasill will be joining the company as Chief Operating Officer, effective February 5, 2007. This newly created position is the result of a restructuring of responsibilities held by executives Bill Costello and Tom Downs who will both retire on March 31, 2007, as previously announced.

Rudasill joins QVC with significant retail and operational experience. Most recently, he served as President and Chief Operating Officer of Limited Brands and Co-Leader of Express, a specialty apparel chain. In this role, he has been responsible for more than 700 stores, overseeing call center operations, merchandise planning, finance, human resources, production and sourcing and business operations.

"Meade brings a diverse set of functional experiences to this role and the right blend of leadership skills to take on this important assignment for QVC," said Mike George, QVC's President and CEO, to whom Rudasill will report. "We know he is the right fit for our business and our culture, and we are eager to embrace his contributions."

In previous roles at Limited, Rudasill served as President & CEO of Beauty Avenues, a $1.3 billion subsidiary he established to commercialize brands and source globally for Bath & Body Works, Victoria's Secret Beauty, Henri Bendel, Pink Retail Brands and external brands in the beauty and personal care sector. He was responsible for wholesale, product and fragrance development, manufacturing and operations, global sourcing and quality. He was also Co- Leader of Bath & Body Works, Limited's personal care division, with responsibility for human resources, culture shaping, retail process, commercialization, and demand chain.

Prior to Limited Brands, Rudasill was Chief Operating Officer and Executive Vice President of Retail Operations at Banc One and Vice President and General Manager of Advanced Technology at Allied Signal.

In his new role at QVC, Rudasill will be responsible for various departments including Affiliate Relations, Human Resources, Information Technology, Legal, Customer Service, Distribution, Facilities and Planning, Quality Assurance and New Business Development.

Additional organizational changes include the promotion of Dan O'Connell to Chief Financial Officer, a role held by Costello, which will take effect on February 5, 2007. O'Connell, who joined QVC in 1987, most recently has served as Senior Vice President, Controller.

Since joining QVC, O'Connell assumed various roles of increasing responsibility in the company's Finance department. Prior to QVC, O'Connell was Controller of a subsidiary of Marketing Corporation of America in Westport, CT. He began his career with Price Waterhouse.

"No one knows the financial inner workings of QVC better than Dan, and his professional standards are unquestioned," said Mike George. "We are fortunate to have in Dan someone with experience, talent and integrity to lead our strong finance organization."

John Hunter has also been promoted to Executive Vice President of Customer Fulfillment Services, a newly created position, effective February 5, 2007. Hunter, who has been with the company for 15 years, most recently has served as Senior Vice President of Distribution, responsible for leading and directing the production of the distribution and logistic network through the company's four U.S. distribution centers. Previously, Hunter was Senior Vice President of Customer Services. Prior to joining QVC, Hunter spent nine years with Citibank, serving as Senior Vice President in the company's Credit Card division.

According to Mike George, "John was instrumental in creating the world- class customer service organization that QVC is today, while also playing a leading role in creating a winning culture for our employees."

Effective February 5, 2007, additional responsibilities will be shifted to Neal Grabell, QVC's Executive Vice President, General Counsel and Secretary. Grabell, who has been with QVC since 1987, will oversee Facilities Design and Planning and the company's Affiliate Sales & Marketing division. This expanded role will be in addition to his existing Legal responsibilities. Grabell also serves on the Board of Directors of QVC's subsidiaries. Prior to joining QVC, Grabell was engaged in the private practice of law and was on the legislative staff of a U.S. Congressman.

"Bill Costello and Tom Downs will be hard acts to follow; however, we are fortunate that they have built strong and stable management teams that are more than ready to take on additional responsibilities and lead us into the future under this new leadership," said Mike George.

QVC, a wholly owned subsidiary of Liberty Media Corporation attributed to the Liberty Interactive Group (NASDAQ:LINTA), is one of the largest multimedia retailers in the world, with annual revenue of more than $7 billion. QVC is committed to providing customers with thousands of the most innovative and contemporary beauty, fashion, jewelry and home products. Its programming is distributed to more than 160 million homes worldwide. The company's website, QVC.com, is ranked among the top general merchant Internet sites. With subsidiaries in the United Kingdom, Germany and Japan, West Chester, PA-based QVC has shipped close to a billion packages in its 20-year history.

Source: QVC, Inc.

CONTACT: Bonnie Clark of QVC, +1-484-701-1647, bonnie_clark@QVC.com

Web site: http://www.qvc.com/

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