Navarre CEO Deacon Out; Porter Interim

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Via News Release

Navarre Corporation (Nasdaq: NAVR) announced today that, as the company transitions to its next phase of growth and focuses on executing its strategic plan, now is the right time for a leadership change. Effective immediately, J. Reid Porter replaces Cary Deacon as Chief Executive Officer on an interim basis while the board conducts a national external search for the next CEO. Deacon will also step down from his position on Navarre’s Board of Directors.

Eric Paulson, chairman of the board, stated, “On behalf of the board, I extend our thanks to Cary. We appreciate his more than nine years of service to Navarre, the last four as president and chief executive officer. During his tenure, Cary managed the company through a volatile economic period, helped set the organization’s long-range strategy, significantly reduced the company’s debt burden and led efforts for divestitures of non-core businesses. We wish Cary the best going forward.”

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