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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/