Ambassadors Group, Inc. Announces Management Departures
SPOKANE, Wash., Feb. 25, 2013 (GLOBE NEWSWIRE) -- Ambassadors Group, Inc.
(Nasdaq:EPAX), a leading provider of educational travel experiences and online
education research materials, today announced the resignation of Jeffrey D.
Thomas as a member of the Board of Directors of the Company, and as the
Company's President and Chief Executive Officer, as well as the resignation of
Margaret M. Thomas as the Executive Vice President of the Company and the
President and Chief Operating Officer of the Company's operating subsidiary
Ambassador Programs, Inc..
Anthony Dombrowik, Senior Vice President and Chief Financial Officer, has
assumed the role of Interim Chief Executive Officer. The Board of Directors
will commence a search for a new chief executive officer.
"On behalf of the board, I would like to express my gratitude to Jeff and Peg
for their significant contributions to Ambassadors Group over the last 17
years," said James Kalustian, Chairman of the Board. "The relevance of the
People to People programs is clear.The teacher leaders, partners and
associates are all dedicated to preparing the next generation of globally
aware students. We are confident in Tony's leadership and the management team
we have in place as we work to ensure a smooth transition.In the meantime,
the Board and the executive team are committed to executing our business
strategy and continuing to position the Company for long-term profitable
growth to enhance shareholder value."
About Ambassadors Group, Inc.
Ambassadors Group, Inc. (Nasdaq:EPAX) is an education company located in
Spokane, Washington. Ambassadors Group, Inc. is the parent company of
Ambassador Programs, Inc., World Adventures Unlimited, Inc. and BookRags,
Inc., an educational research website. The Company also oversees the
Washington School of World Studies, an accredited travel study and distance
learning school. Additional information about Ambassadors Group, Inc. and its
subsidiaries is available at www.ambassadorsgroup.com. In this press release,
"Company", "we", "us", and "our" refer to Ambassadors Group, Inc. and its
The Ambassadors Group, Inc. logo is available at
This press release contains forward-looking statements regarding actual and
expected financial performance and the reasons for variances between
period-to-period results. Forward-looking statements, which are included per
the "safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995, may involve known and unknown risks, uncertainties and other factors
that may cause actual results and performance in future periods to be
materially different from any future results or performance suggested by the
forward-looking statements in this release. Such forward-looking statements
speak only as of the date of this release and may not reflect risks related to
international unrest, outbreak of disease, conditions in the travel industry,
the direct marketing environment, changes in economic conditions and changes
in the competitive environment. We expressly disclaim any obligation to
provide public updates or revisions to any forward-looking statements found
herein to reflect any changes in expectations or any change in events.
Although we believe the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, we can give no assurance
that our expectations will be met. For a more complete discussion of certain
risks and uncertainties that could cause actual results to differ materially
from anticipated results, please refer to the Ambassadors Group, Inc. 10-K
filed March 12, 2012, and its proxy statement filed May 9, 2012.
CONTACT: Company and Investor Relations Contact:
Financial Relations Board
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