Lowell W. Robinson Nominated to Head Finance and Audit Committee
NEW YORK, Nov. 19 /PRNewswire-FirstCall/ -- Edison Schools (Nasdaq: EDSN),
the nation's largest private manager of public schools, announced today that
it has nominated four new members to its Board of Directors: John B.
Balousek, Ronald F. Fortune, Paul A. Lincoln, and Lowell W. Robinson. These
nominees were reported in the Company's proxy issued on October 28; they will
be voted on at Edison's annual stockholder meeting, scheduled for December 5.
Each director is elected to hold office until the next annual meeting of
stockholders.
In addition to his nomination, Mr. Robinson joined Edison's Board of
Directors on November 15 to fill a vacancy as chairman of the Finance and
Audit Committee. Mr. Robinson has more than twenty years of top level global
strategic, financial and operational experience at both Fortune 100 sized
corporations and entrepreneurial companies in consumer products, diversified
financial services, direct marketing, health care, media/internet and
technology.
"We are thrilled to nominate these stellar candidates to Edison's Board of
Directors," said Chris Whittle, Edison's Founder and CEO. "These new Board
nominees-John Balousek, Ronald Fortune, Paul Lincoln, and Lowell
Robinson--represent a tremendous move for Edison. Each one of them possesses
extraordinary credentials, experience and intelligence."
Current outside board members who have been nominated for another term on
the Board of Directors include: Joan Ganz Cooney, Chairman of the Executive
Committee, Sesame Workshop; Reverend Floyd H. Flake, President (Interim),
Wilberforce University; and Timothy P. Shriver, President & CEO, Special
Olympics, Inc.
Edison executives who have been nominated for another term on the Board of
Directors include: H. Christopher Whittle, Founder & Chief Executive Officer;
Benno C. Schmidt, Jr., Chairman of the Board of Directors; Christopher D.
Cerf, President & Chief Operating Officer; and Charles J. Delaney, Vice
Chairman.
These nominations follow some recent changes on the Board. In July 2002,
Jeffrey T. Leeds, Jonathan Newcomb and William F. Weld stepped down from the
Board in order to consider participating in a financing arrangement with the
Company that would cause them to no longer be independent. This financing was
subsequently completed. At approximately the same time, Charles J. Delaney
joined the Company as vice chairman and thus was no longer an independent
director. Leeds, Newcomb and Delaney had comprised the Finance and Audit
Committee.
Following are brief biographies of the new nominees to Edison's Board of
Directors:
John B. Balousek
John B. Balousek currently serves on the Boards of Directors of Central
Garden & Pet Company, Aptimus, Inc., Interland, Inc. and Geoworks Corporation.
From 1998 to 1999, Mr. Balousek served as executive vice president and a
founder of PhotoAlley.com, a San Francisco-based start-up company providing
electronic commerce services. From March 1996 to July 1996, he served as
chairman and chief executive officer of True North Technologies, a digital and
interactive services company of True North Communications. From 1991 to
February 1996, Mr. Balousek served as president, chief operating officer and
director of Foote Cone & Belding Communications, Inc. ("FCB") a global
advertising and communications company. From 1979, he served in various
positions at FCB, and earlier he worked in brand management at Proctor &
Gamble.
Ronald F. Fortune
Ronald F. Fortune is the founder of Edumetrics Learning, an early stage
startup focused on building educational content for students at schools and
home. From 1990 until December 1999, Mr. Fortune was the president and chief
executive officer of Computer Curriculum Corporation ("CCC"), an educational
software company. Prior to becoming chief executive officer of CCC, he was
CCC's chief operating officer (1988-1990), vice president of sales (1986-1988)
and sales representative (1979-1986). He has served as a member of
California's Information Technology Council and as vice president of the Board
of Directors for the Software and information Industry Association (formerly
Software Publishers Association). Mr. Fortune has served as president of CEO
Forum, a Washington, D.C. based organization advocating the use of technology
in schools, and is currently a senior advisor to Project Pipeline, a nonprofit
teacher recruitment and credentialing institution. He has served as a
classroom teacher and as an administrator.
Paul A. Lincoln
From April 1995 through November 2002, Paul A. Lincoln served as the
director of education for the Essex Local Education Authority ("LEA"), one of
the three largest school districts in the United Kingdom with 200,000 students
and 580 schools. Mr. Lincoln taught in United Kingdom secondary schools for
19 years before holding a series of posts in the Essex LEA senior management
team, including that of deputy director from 1993 until April 1995. Mr.
Lincoln has served on various national committees and task forces. His
particular education interests and expertise include research in financing,
policy and practice, special educational needs and developing education
leaders of the future.
Lowell W. Robinson
Lowell W. Robinson was senior executive vice president and chief financial
officer for HotJobs.com from 2000 to February 2002, when the company was sold
to YAHOO Inc. From 1997 until 1999, Mr. Robinson was executive vice
president, Global Business Services and chief financial officer of PRT Group
Inc. From 1994 until 1997, Mr. Robinson was executive vice president and
chief financial officer at ADVO, Inc. Mr. Robinson spent eight years at
Citigroup (1986-1993) where he was vice president and chief financial officer
for The Traveler's Managed Care and Employee Benefits Operations from 1991 to
1993; the chief financial officer for Citicorp's Global Insurance and Capital
Investments Divisions from 1988 to 1991; and the controller for Citicorp's
Consumer Services Group-International from 1986-1988. Prior to joining
Citigroup, Mr. Robinson was director of finance and operations for Uncle Ben's
Inc., the domestic and international rice subsidiary of Mars, Inc. From 1973
to 1983, Mr. Robinson held senior financial positions at Kraft/General Foods.
Mr. Robinson received his master's of business administration from the Harvard
Graduate School of Business and graduated with a bachelor's degree from the
University of Wisconsin.
About Edison
Edison Schools manages 150 public schools with a total enrollment of
approximately 80,000 students. Through contracts with local school districts
and public charter school boards, Edison generally assumes educational and
operational responsibility for individual schools in return for funding that
is comparable to that spent on other public schools in the area. Over the
course of three years of intensive research, Edison's team of leading
educators and scholars developed an innovative, research-based curriculum and
school design. 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
November 19, 2002. 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 November 19, 2002.
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SOURCE Edison Schools
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Related links:
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CONTACT:
Adam Tucker, VP Communications of Edison
Schools, +1-212-419-1602
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