Bluestem Group announces Bruce Cazenave to its Board of Directors as upcoming CEO

– USA, MN –  Bluestem Group Inc. (OTCMKTS:BGRP) today announced the appointment of Bruce Cazenave as President and Chief Executive Officer and member of the Board of Directors, effective April 1, 2019. Mr. Cazenave succeeds Lisa Gavales, interim Chief Executive Officer. Mrs. Gavales will remain a member of the Board of Directors.

Gene Davis, Executive Chairman of the Board, commented, “Bruce brings more than 20 years of senior leadership experience and we are extremely pleased to welcome him to the Bluestem team. His extensive background with global brands and track record of profitable growth make him an ideal choice to lead our company. We look forward to leveraging Bruce’s extensive expertise across a number of key areas including marketing, operations and supply chain as he spearheads the turnaround and future growth of our Company. I also want to thank Lisa for her valuable contributions during her tenure as interim Chief Executive Officer and look forward to her continued contributions as a member of our Board of Directors.”

About Bruce Cazenave

Since 2011 Mr. Cazenave served as Chief Executive Officer and member of the Board of Directors of Nautilus Inc. Prior to Nautilus, he served as Managing Director of Inflection Point Consulting, a business consulting firm, where he consulted with and served as an executive advisor to private equity firms. From 2006 to 2009, he worked for Central Garden & Pet Company, as President of the Garden Décor Group. As a strategy consultant to Timex Corporation in 2006, he focused on supply chain, operational and organizational priorities. From 2002 to 2005, Mr. Cazenave served as President and CEO of Dorel Juvenile Group, a subsidiary of Dorel Industries, Inc. He has also served in senior executive roles at Black & Decker U.S., Inc. and Timberland. Mr. Cazenave is a graduate of Johns Hopkins University and received a Masters’ degree from George Washington University.

Mr. Cazenave stated, “I want to thank the Board of Directors for this opportunity and I am excited to be joining Bluestem during this transformational period for the Company. Bluestem is uniquely positioned as a multi-brand direct to consumer retailer serving a value-oriented customer. Bluestem’s strong portfolio of brands combined with its extensive and deep customer knowledge provides a distinct competitive advantage in the market. The Company has the capability to deliver significant long term profitable growth and I am eager to work with the team to fully capitalize on the current market position and realize that full potential.”

About Bluestem Group Inc.

Bluestem Group Inc., a holding company headquartered in Eden Prairie, MN, operates multiple direct to consumer retail brands through its subsidiary Bluestem Brands. The Northstar portfolio includes Fingerhut and Gettington, both of which are national multi-channel retail brands offering a broad selection of name brand and private label merchandise serving low- to middle-income consumers by offering multiple payment plans through revolving credit lines or installment loans. The Orchard portfolio consists of multi-channel brands currently including Appleseed’s, Bedford Fair, Blair, Draper & Damon’s, Gold Violin, Haband, Norm Thompson, Old Pueblo Traders, Sahalie, Tog Shop and WinterSilks. These brands offer apparel, accessories, and home products for the boomer and senior demographic, generally considered age 50 and over and provide customers with the ability to obtain credit through a third-party private label credit card.

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