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Mark Peters : August 3th 2006 - 22:06 CET

PhotoWorks CEO Philippe Sanchez resigns


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PhotoworksPhotoWorks CEO Philippe Sanchez resigns : PhotoWorks, an Internet based digital photo-publishing company, today announced that Philippe Sanchez has tendered his resignation from day to day operations as President and CEO having successfully completed the turnaround of PhotoWorks. Sanchez will remain in an advisory capacity with PhotoWorks as a director on the Company's Board. "I was brought on board in late 2003 to drive the turnaround of PhotoWorks; a task which has now been successfully completed," said Sanchez. "PhotoWorks has emerged from this transformation as a creative and innovative force, and is well positioned to capitalize on the continuing explosion of digital photography."
PhotoWorks CEO Philippe Sanchez resignsPhotoWorks - Philippe Sanchez
Under Philippe Sanchez's leadership, PhotoWorks embarked on a comprehensive restructuring plan. This included the transformation of the Seattle based mail-order film processing business into a leading digital photography service focused on the creation of hard bound custom photo books. In the past year, PhotoWorks' photo books have been acclaimed by national press and considered among the elite in the category. For the first 6 months of fiscal year 2006, the company reported that digital sales grew to $3.6M, an 86% increase over the same period last year that largely outpaced the rest of the competition.

Leading digital photography service
"We thank Philippe for his great job of turning PhotoWorks into a fast growing company again, and we look forward to his continued contribution as a member of the Board," said Joseph W. Waechter, PhotoWorks' Chairman, who will act as interim CEO until a successor for Sanchez is appointed.

About Philippe Sanchez
Philippe Sanchez was appointed to the position of CEO in October 2003. He's a fifteen-year global marketing veteran of two of the world's most recognizable brands, Nike and Disney, and a leader in digital imagery, Getty Images. Before taking on his role at PhotoWorks, Sanchez was senior vice president of marketing at Getty Images, a leading imagery company, where he managed worldwide strategic brand initiatives. With a proven track record in driving business growth in challenging environments, Sanchez has served in various general management, product marketing and merchandising roles in Europe, Asia and the Americas. A six-year Nike veteran, Sanchez also served as a licensing manager for Disney's Consumer Products Europe and Middle East out of the company's European headquarters in Paris.

About PhotoWorks
PhotoWorks is an Internet based digital photo-publishing company. The company's web based services allow PC and Mac users to create hard bound photo books, customized greeting cards, calendars, prints and other photography sourced products straight from their computers. Formerly known as Seattle Film Works, PhotoWorks has a 30-year national heritage of helping photographers share and preserve their memories with innovative and inspiring products and services.





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