Coinstar CEO Paul Davis is to step down from his position and retire at the end of March, the company said in an official announcement. His replacement is current CFO J. Scott Di Valerio, who will also take a seat on the board of directors.

The company was fulsome in its praise for Davis' work. According to board of directors Chair Deborah Bevier:

For nearly four years as Coinstar's CEO, Paul has successfully guided the company to tremendous growth and profitability through a wide range of initiatives.

Coinstar also said in the statement that it maintains its existing guidance on 4Q and fiscal 2012 revenue, and anticipates core diluted EPS to come in at the higher end or above the provided range.

The article Coinstar CEO to Retire originally appeared on Fool.com.

Eric Volkman has no positions in Coinstar. The Motley Fool has no positions in Coinstar. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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