NEW YORK, April 30 /PRNewswire-FirstCall/ --
Edison Schools (Nasdaq: EDSN), America's largest private manager of public
schools, announced today that Edward S. Harris has been appointed to serve on
its Board of Directors. Mr. Harris will fill a position vacated by Paul A.
Lincoln who will remain in an "ex officio capacity" on the board. Mr. Harris
was elected by board members who represent Class A stockholders and will also
serve as the third independent member of the Board's Audit Committee.
"We are pleased to add someone with Edward Harris's business experience to
Edison's Board of Directors," said Chris Whittle, Edison's Founder and CEO.
"Ed's financial background will surely benefit Edison."
Currently an independent financial consultant, from December 1998 to
December 2002 Mr. Harris served as Director of Investment Management for
Vulcan Ventures Inc., a private equity firm founded and controlled by Paul
Allen, the co-founder of Microsoft. From 1992 to 1998, Mr. Harris was Chief
Financial Officer for three technology companies: Claircom Communications
Group, L.P., an affiliate of McCaw Cellular Incorporated and provider of
specialized air-to-ground wireless communications services; Starwave
Incorporated, a leading Internet company; and Mirror Software, Inc., a
provider of medical imaging software. Mr. Harris was an investment banker
with Salomon Brothers Inc. from 1985 to 1990 and with Sumishin Capital from
1990 to 1992. Mr. Harris is on the Board of Directors of two public
companies: Click2Learn.com (Nasdaq: CLKS), a Bellevue, Washington provider of
online learning solutions, and First Virtual Communications (Nasdaq: FVCX), a
Santa Clara, California company that provides rich media communications
products worldwide.
Mr. Harris received a BA in Economics from Rutgers University in 1982 and
an MBA from the Columbia University School of Business in 1985.
About the Board of Directors
Edison has an 11-person Board of Directors. With the appointment of Mr.
Harris, the majority of board members are now independent. Other current
board members include Joan Ganz Cooney, Reverend Floyd H. Flake, Lowell W.
Robinson, Ronald F. Fortune, John B. Balousek, and Timothy P. Shriver. Edison
executives who serve on the Board of Directors include: H. Christopher
Whittle, Founder & CEO; Benno C. Schmidt, Jr., Chairman of the Board of
Directors; Christopher D. Cerf, President & Chief Operating Officer; and
Charles Delaney, Vice Chairman.
About Edison
Founded in 1992, Edison partners with school districts and charter boards
to raise student achievement through its research-based school design, aligned
assessment systems, interactive professional development, integrated use of
technology, and other proven program features. Edison students are achieving
annual academic gains well above national norms. Edison Schools now serves
more than 110,000 public school students in more than 20 states through four
different business channels: (1) the management of schools for school
districts, (2) charter schools, (3) summer and after-school programs, and
(4) achievement management solutions for school systems. The company operates
149 full-year schools and 178 summer schools.
Between 1992 and 1995 and in ongoing efforts, Edison's team of leading
educators and scholars has conducted intensive research to develop its school
design and support systems. Edison opened its first four schools in August
1995 and has grown rapidly in every subsequent year. For more information,
please visit http://www.edisonschools.com.
Any statements in this press release and any other press release issued by
Edison on or about the date hereof about future expectations, plans and
prospects for Edison, including statements containing the words "believes,"
"anticipates," "plans," "expects," "will," and similar expressions, constitute
forward-looking statements within the meaning of The Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from
those indicated by such forward-looking statements as a result of various
important factors, including the risk factors discussed in our most recent
annual report on form 10-K/A filed with the SEC. The forward-looking
statements included in this press release represent Edison's estimates as of
April 30, 2003. Edison anticipates that subsequent events and developments
will cause its estimates to change. While Edison may elect to update these
forward-looking statements at some point in the future, Edison specifically
disclaims any obligation to do so. These forward-looking statements should
not be relied upon as representing Edison's estimates or views as of any date
subsequent to April 30, 2003.
SOURCE Edison Schools
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Related links:
http://www.edisonschools.com
CONTACT:
Adam Tucker, VP Communications, Edison
Schools, +1-212-419-1602
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