Promotion from SVP of Images Validates Corbis’ Continued Growth and Future Direction

Seattle (November 28, 2006)-- Corbis today announced the appointment of Gary Shenk as President. Shenk’s promotion from SVP of Images is a validation of Corbis’ strategy and an explicit step toward becoming an organization focused on industry leadership and operational excellence. Shenk’s new role is part of a broader realignment of the company’s go-to-market functions into an integrated team, and he will assume oversight of marketing, sales, and the creative resources businesses.

During his tenure with Corbis, Shenk has earned a reputation as an industry visionary with the passion and operational skills to transform and grow successful businesses. Most recently as SVP of Images, he has overseen Corbis’ image licensing business. Previously, Shenk led the growth of Corbis’ industry-leading Rights Services offering.

“Gary brings exactly the right combination of industry experience, entrepreneurial energy, and operational intensity that will enable Corbis to maintain its position as the fastest-growing major company in our business,” said Steve Davis, CEO, Corbis. “Under Gary’s capable leadership, we have significantly improved our product quality and execution in Corbis’ image licensing business. It is only natural in this intense competitive environment that we expand Gary’s role to drive our complete range of go-to-market activities.”

In addition to his new responsibilities as President, Shenk will continue to direct Corbis’ image licensing business including product management, strategic partnerships and photographer relations. Shenk will continue to report to Davis, and assumes some of the responsibilities formerly held by him in his dual role as President and CEO.

“Corbis thrives on creativity and with the greatest assets and the most talented people in the industry the opportunity before us is awesome,” said Gary Shenk, President, Corbis. “With strategic focus, a tight integration of critical go-to-market functions, and overall operational excellence, we are in a great position to lead the industry in fulfilling our customers’ needs for imagery and creative resources around the globe.”

Prior to joining Corbis, Shenk was a founder and general manager of one of Hollywood’s leading media licensing agencies, FlixMix, a wholly owned subsidiary of Universal Studios. Shenk began his relationship with Universal while he was a leader in the media and entertainment practice of The Boston Consulting Group. At BCG Shenk developed a digital distribution strategy for the world's leading music company. Shenk’s entrepreneurial talents served him well in Hollywood, where he was instrumental in establishing new licensing formats and brokering deals between studios and talent agencies. It was this success that led Corbis to recruit Shenk for its Rights businesses in 2003. Shenk led the new Rights Services unit of Corbis and executed a series of further acquisitions and business development successes that helped to reposition the company as a full-line creative solutions firm.

In 2005, Shenk took over the management of Corbis’ core image licensing business, where he spearheaded a transformation from an editorial focus to a combined editorial/creative offering. Under his leadership, Corbis has emerged as a leading provider of world-class historical, editorial, and creative photography. Among his other accomplishments Shenk holds an M.B.A in Finance from The Wharton School of the University of Pennsylvania, and a B.A in Social Studies from Harvard College.

ABOUT CORBIS
Corbis is a world leader in digital media. Founded in 1989 by Bill Gates, the company provides the industry’s richest array of digital image licensing, rights services, artist representation and media management, Corbis enables creative innovation for advertising, corporate marketing and publishing clients. Corbis is headquartered in Seattle, Washington with 21 offices throughout Asia, Europe and North America.