Navarre Chairman Eric Paulson Announces Intent to Retire

Navarre

announced today that Eric Paulson, 66, Chairman of the Board, will retire from his position as chairman and director after completing his current term. Paulson will not stand for re-election at the company's annual meeting of shareholders in September 2011. "Eric has been a pillar of the Navarre organization for nearly 30 years, and we are grateful for his vision, leadership and years of service as the founder of the company, former chief executive officer and chairman of the board," said Keith Benson, board director. "We respect Eric's desire to retire at this point in his life and enjoy some well-deserved leisure time. We wish him the best of luck in his future endeavors, and we are confident he will use his wisdom, background and entrepreneurial skills to counsel varied businesses and continue his great work in the community." Paulson founded Navarre in 1983, driving annual revenue growth to a high of $700 million in fiscal year 2007, which was his final year as chief executive officer. He took the company public in 1993, and during his tenure he established Navarre as a leader in the publishing, licensing and distribution of entertainment and interactive products. Prior to Navarre, Paulson worked in various management capacities at Pickwick International, and he has served the entertainment industry since 1967. From 1995 to 2001 Paulson was also Chairman of Net Radio, a subsidiary of Navarre, and oversaw its public offering in 1999.