GREENVILLE, Wis., Oct. 29, 2014 (GLOBE NEWSWIRE) -- School Specialty, Inc. (OTCQB: SCOO) ("School Specialty" or "the Company"), a leading distributor of innovative and proprietary products, programs and services to the education marketplace, is pleased to announce the appointment of Ryan M. Bohr as its new Executive Vice President and Chief Financial Officer, effective immediately. Mr. Bohr replaces Kevin Baehler, who was named Interim Chief Financial Officer in January 2014. Mr. Baehler will remain with the Company and has been named Senior Vice President and Chief Accounting Officer as part of this transition.
Joseph M. Yorio, School Specialty's President and Chief Executive Officer, stated, "I'd like to personally welcome Ryan to the SSI family and have every bit of confidence in his ability to lead our financial organization. He has extensive experience in both turnarounds and growth-oriented companies and a strong blend of operational and financial management skills that will serve us well. I would also like to thank Kevin for his tireless efforts and dedication in supporting this critical function. We have a strong team in place and collectively, we continue to enhance our organizational structure to drive best practices and meaningful returns for our customers, employees and stockholders."
Mr. Bohr is a senior executive with close to 20 years of operations and finance leadership experience, primarily within private equity owned businesses. Throughout his career, he has specialized in the areas of mergers and acquisitions, corporate financing, investment strategies and execution, and driving operational improvement plans. He joins School Specialty as Chief Financial Officer, having most recently served as Chief Executive Officer of Fresh Matters, LLC, an early stage specialty beverage company. While with Fresh Matters, he helped the Company structure a capital infusion and bridge financing; successfully relocated its primary production line; and established a multi-year contract manufacturing agreement. He was also instrumental in the creation of a national broker and distribution network, which led to impressive growth during his tenure. Additionally, he was responsible for the development and implementation of new accounting and reporting systems, inventory management controls and various operational efficiency programs.
Prior to Fresh Matters, Mr. Bohr served as a Partner with Hilco Equity Partners ("Hilco"), a private equity firm focused on special situations. While with Hilco, Mr. Bohr played a key role in all aspects of the Fund's activities, including fundraising, day-to-day operations for certain portfolio companies and execution of the firm's investment strategy across the consumer and industrial industries. Earlier in his career, he held positions with Thoma Cressey Equity Partners, a middle-market private equity firm and William Blair & Co., a well-known financial services company. He is a Certified Public Accountant and began his career at KPMG Peat Marwick, a leading public accounting firm. Mr. Bohr is a graduate of the University of Notre Dame, serves as a Board Member of Natural Food Holdings and as a Board Advisor to Fresh Matters, LLC, and is a Trustee of College Preparatory High School, Marmion Academy.
"I am honored to be joining School Specialty as CFO and believe my skillsets and experience will serve the Company well. Given how far they've come in their turnaround, the strength of their product portfolio and customer base, and their stellar reputation in the education market, I firmly believe SSI is well-positioned for profitable growth," stated Mr. Bohr. "I look forward to working with Joe and the extended SSI team and will do all that I can to continue to add value to the organization in the years to come."
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 School Specialty's future financial conditions, results of operations, expectations, plans, or prospects, including the information under the headings "Process Improvement Program Update" and "Financial Outlook", constitute forward-looking statements. Forward-looking statements also include those preceded or followed by the words "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "projects," "should," "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 26, 2014, which factors are incorporated herein by reference. Any forward-looking statement in this release speaks only as of the date in which it is made. Except to the extent required under the federal securities laws, School Specialty does not intend to update or revise the forward-looking statements.
Source:School Specialty, Inc.