eCollege(SM) Appoints Reid Simpson as Chief Financial Officer
April 12 2004 - 4:30PM
PR Newswire (US)
eCollege(SM) Appoints Reid Simpson as Chief Financial Officer
Strong Experience Provides Continuity and Leadership in CFO Role
DENVER, April 12 /PRNewswire-FirstCall/ -- eCollege , a leading
provider of value-added information services to the post-secondary
education market, today announced the appointment of Reid Simpson
as chief financial officer (CFO), effective May 3, 2004. Simpson
brings to eCollege significant financial and executive management
experience, including 18 years as a CFO. Simpson will report to
Oakleigh Thorne, chairman and CEO of eCollege, and will oversee all
corporate finance, accounting, financial reporting, human resources
and investor relations functions for the company. He fills the CFO
position vacated by Doug Kelsall, who was promoted to president and
chief operating officer in November 2003. "We are delighted Reid is
joining our team," said Thorne. "His wide ranging background and
leadership abilities will add to the strength of our company. Reid
has a broad knowledge of the issues faced by public companies today
and has strong ties to Wall Street, which will be instrumental as
we continue to expand our business and build shareholder value
organically and through selective acquisitions in the future."
Thorne added, "Reid is assuming responsibility for an already
strong financial organization, and we expect a smooth transition."
For the past five years, Simpson served as executive vice president
and CFO of CCC Information Services (NASDAQ:CCCG) (CCC), a publicly
held company providing software and services to the automobile
claims industry. CCC, like eCollege, has a strong, scalable
business model that has achieved excellent performance over the
past few years. While at CCC, Simpson played a key role in
streamlining the company's business and cost structure and
increasing the financial market's awareness of CCC, resulting in
record revenues and profits, and increased market value. Prior to
CCC, Simpson held CFO positions at TheSignature Group and Delphi
Information Systems. Additionally, Simpson spent 16 years with the
Dun & Bradstreet Corporation where he held a number of senior
finance positions, including CFO for three of the corporation's
businesses: Dun & Bradstreet Plan Services, Nielsen Marketing
Research and DonTech. Simpson holds a Bachelor of Science in
Accounting from Michigan State University. "This is an exciting
time to be involved in the high-growth education industry," said
Simpson. "eCollege is an established leader in this market, and I
look forward to working with the eCollege team to build on the
company's success." About eCollege eCollege (NASDAQ:ECLG) is a
leading provider of value-added information services to the
post-secondary and K-12 education markets. The Company's eLearning
Division designs, builds and supports some of the most successful,
fully online degree, certificate/diploma and professional
development programs in the country. The Company's Enrollment
Division, Datamark, Inc.,helps institutions build new enrollments
and increase student retention. Customers include publicly traded
for-profit institutions, community colleges, public and private
universities, school districts, and state departments of education.
eCollege was founded in 1996 and is headquartered in Denver.
Datamark was founded in 1987 and is headquartered in Salt Lake
City. For more information, visit http://www.ecollege.com/ and
http://www.datamark.com/. This news release contains statements
that are not historical in nature and that may be characterized as
"forward-looking statements" within the meaning of the securities
laws including statements regarding Mr. Simpson's expected
contributions to eCollege, our plans to grow organically and
through acquisitions, and any other statements that are not
historical facts. These statements are based on management's
current expectations and are subject to a number of uncertainties
and risks. Actual results may differ materially. Important factors
that could cause actual results to differ materially from estimates
or projections contained in the forward-looking statements include,
but are not limited to, our ability to retain key executives, our
customers' ability to achieve successful online programs, and such
other factors as are discussed in our most recent Form 10-K Annual
Report filed with the U.S. Securities and Exchange Commission
("SEC"), which you are encouraged to review in connection with this
release. We believe that these forward-looking statements are
reasonable, however, you should not place undue reliance on
forward-looking statements, which are based on current expectations
and speak only as of the date of this release. We are not obligated
to publicly release any revisions to forward-looking statements to
reflect events after the date of this release. eCollege is a
service mark of eCollege. All other trademarks and service marks or
registered trademarks or service marks are the property of their
respective owners. DATASOURCE: eCollege CONTACT: Kristi Emerson of
eCollege, +1-303-873-3788, Web site: http://www.ecollege.com/
http://www.datamark.com/
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