David Vander Ploeg, School Specialty's Chief Financial Officer, to Retire at
the End of the Year
Vander Ploeg to Remain Chief Financial Officer Until Planned Retirement or
Until Replacement is Hired
GREENVILLE, Wis., Aug. 19, 2013 (GLOBE NEWSWIRE) -- School Specialty, Inc.
("SSI") today announced the planned retirement of David Vander Ploeg, the
Company's Chief Financial Officer ("CFO"), effective as of December 31, 2013.
Mr. Vander Ploeg, after more than five years with the organization, will be
retiring in order to spend more time with his family and pursue his personal
interests.He was a critical member of the team that successfully led School
Specialty through its restructuring and now that the company has emerged in a
stronger financial position, Mr. Vander Ploeg has decided to retire.He has
committed to stay at the company in his current role as CFO through year-end
and support leadership and the Board in locating and transitioning to a
successor as needed.
"I'd like to thank Dave for his many contributions as CFO and wish him nothing
but the best in his future endeavors.Since I joined the Board, I have been
highly impressed with his leadership, knowledge of our business and the
respect he has garnered throughout our company.The fact that he is staying
with us through year-end and supporting us through this important time in our
corporate evolution is testament to his character and dedication to our
organization.While he will be missed, I have every bit of confidence in the
SSI team to execute, grow and enhance stakeholder value over the coming
years," stated James R. Henderson, School Specialty's Chairman of the Board,
President and Interim Chief Executive Officer.
"With our balance sheet stronger and the economic climate showing signs of
improvement, I felt now was the right time to step away," said Vander Ploeg.
"I look forward to spending more time with my family and having the
flexibility to pursue some of my other interests, in addition to my Board and
volunteer commitments.School Specialty is in good hands and I believe new
leadership will benefit from fresh perspectives.I will do all that I can to
support the Board and management in this transition and building upon the
friendships that I've established over the years as I move on to the next
chapter of my life."
About School Specialty, Inc.
School Specialty is a leading distributor of innovative and proprietary
products, programs and services to the education marketplace. The company
designs, develops, and provides educators with the latest and very best school
supplies, furniture and both curriculum and supplemental learning resources.
Working in collaboration with educators, School Specialty reaches beyond the
scope of textbooks to help teachers, guidance counselors and school
administrators ensure that every student reaches his or her full potential.
For more information about School Specialty, visit www.schoolspecialty.com.
Statement Concerning Forward-Looking Information
Any statements made in this press release about futurefinancial condition,
results of operations, expectations, plans, or prospects, constitute
forward-looking statements. Forward-looking statements also include those
preceded or followed by the words "anticipates," "believes," "could,"
"estimates," "expects," "intends," "may," "should," "plans," "targets" and/or
similar expressions. These forward-looking statements are based on School
Specialty's current estimates and assumptions and, as such, involve
uncertainty and risk. Forward-looking statements are not guarantees of future
performance, and actual results may differ materially from those contemplated
by the forward-looking statements because of a number of factors, including
the factors described in Item 1A of School Specialty's Annual Report on Form
10-K for the fiscal year ended April 27, 2013, which factors are incorporated
herein by reference. Except to the extent required under the federal
securities laws, School Specialty does not intend to update or revise the
CONTACT: Company Contact / Media Contact:
Investor Relations Contact:
School Specialty, Inc.
Elizabeth Higashi, CFA
School Specialty, Inc.
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