Ambassadors Group, Inc. Announces Board of Directors and Management Changes
SPOKANE, Wash., May 7, 2014
SPOKANE, Wash., May 7, 2014 /PRNewswire/ -- Ambassadors Group, Inc.
(NASDAQ:EPAX), a leading provider of educational travel experiences and online
education research materials, held its annual stockholders meeting today. The
slate of seven directors, recommended by the board of directors, was elected
to serve for the upcoming year. Two new directors joined the board: Jefferson
Gramm, a principal at Bandera Partners, LLC, and Philip B. Livingston, former
Chief Executive Officer, LexisNexis Web Based Marketing Solutions. Bandera
Partners owns approximately 18% of the Company's outstanding shares.
Following the stockholders meeting, the board of directors met and elected
Lisa O'Dell Rapuano to serve as its Chairman. Rapuano is the founder and Chief
Executive Officer of Lane Five Capital Management LP, a long-biased,
concentrated, valuation-driven investment partnership. She was first elected
to the board in 2012 and has served on the compensation and nominating
committees. Rapuano graduated from Yale University and holds a Chartered
Financial Analyst professional designation. Rapuano's status as representative
of one the Company's largest stockholders gives her important perspective as
"Our board is committed to creating value for our stockholders and maximizing
the opportunities for improvement in the business. We continue to believe we
offer a great product in the market and will accelerate our transition to a
more efficient cost structure and marketing approach," said Ms. Rapuano.
The board also appointed Philip Livingston to serve as the Company's new
Interim Chief Executive Officer. Livingston was previously the Chief
Executive Officer of LexisNexis Web Based Marketing Solutions from 1999 to
2013. He has previously served on numerous boards of directors and his
management experience includes President and CEO of Financial Executives
International, CFO of Catalina Marketing Corporation, and CFO of Celestial
Seasoning Inc. He graduated from the University of Maryland, College Park and
holds an MBA from the University of California, Berkeley. Livingston replaces
Anthony F. Dombrowik, who will be pursuing opportunities outside of the
"The board would like to thank Mr. Dombrowik for his years of service to the
company and wishes him well in his future business endeavors," said Rapuano,
"The People to People brand is strong in the marketplace and our associates
are clearly dedicated to the mission of education and exchange toward creating
global citizens. We will be focused on customer-centrism, cost efficiency, and
web-based services integration, all toward constantly improving our business,"
About Ambassadors Group
Ambassadors Group Inc. (NASDAQ: EPAX) is an education company located in
Spokane, Washington. Ambassadors Group, Inc. is the parent company of People
to People 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
SOURCE Ambassadors Group, Inc.
Contact: Doug Williams: (310) 503-8680; firstname.lastname@example.org
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