Thomas to join current Chairman and CEO Robert Bowen as company makes strategic shift with proposed acquisition of BrainMaps and capital raise to fuel rapid growth in China
OAKLAND, Calif.--(BUSINESS WIRE)-- Scientific Learning Corp. (OTC PINK:SCIL) today announced that it is naming Jeffrey D. Thomas as its co-chief executive officer beginning in early March. Currently the lead independent director of Scientific Learning’s Board of Directors, Thomas will join current Chairman and CEO Robert Bowen in leading the company, which develops and delivers neuroscience-based educational technologies for learners around the world.
“Jeff is playing a key role in our project to acquire our China-based value added reseller partner, BrainMaps, and expand our presence in China. His insight, experience and vision will fundamentally change the way the English language is learned in China, through the combination of Scientific Learning’s programs and BrainMaps’ unique Online to Offline learning center model,” said Bowen. “The company will be well served having Jeff join me in the day-to-day operations as we make this important, strategic pivot to the largest English language learning market in the world.”
In addition to serving on the Scientific Learning board, Thomas has been involved with several private-equity backed education companies in CEO and executive chairman positions. He served for over 11 years as CEO of the Ambassadors Group, Inc. and 6 years as president & CFO of Ambassador International, both publicly-traded, educational travel companies that organize and promote international and domestic educational travel and sports programs for youth, athletes and professionals. While in these roles, he oversaw annual revenue growth from $40 million to more than $300 million, and launched an educational travel business based in China, which focused on sending pre-college Chinese students to the United States. In 2007, Thomas was named Entrepreneur of the Year for the Pacific Northwest by Ernst & Young.
Prior to his public company CEO experience, Thomas worked in Menlo Park, CA, in business development for Adia (now Adecco), one of the largest staffing companies in the world, and as a management consultant in Boston and Paris, helping CEO’s develop and operate strategic plans.
Thomas majored in economics and government at Dartmouth College, graduating magna cum laude and Phi Beta Kappa. While at Dartmouth, he also spent time in London as part of the international relations program at the London School of Economics and Political Science.
“Since joining Scientific Learning, I have marveled at the company’s unique neuroscience-based innovations, both on a personal and professional level. The Fast ForWord program has played a significant role in helping two of my children overcome educational challenges, so I am thrilled to help bring these tools to other students,” said Thomas. “I look forward to continuing to serve our U.S. K-12 market as well as our clinical, consumer, and international channels, and helping to bring these innovations to the millions of Chinese learners seeking English proficiency, through our BrainMaps partnership.”
About Scientific Learning Corp.
Based in Oakland, Calif., Scientific Learning is a leading SaaS service provider that delivers neuroscience-based educational technologies. Scientific Learning’s programs have been used by more than 2.8 million learners in more than 2,600 K-12 schools in the United States, by over 500 private practice clinicians, by thousands of students via a direct-to-consumer channel, and in over 55 countries via value-added resellers. The company’s Fast ForWord® programs cross-train foundational language and cognitive skills necessary for rapid English language development, while Reading Assistant™ uses speech verification technology to provide real-time corrective feedback to students as they read and speak, in a manner similar to that of an individualized language and reading coach.
Safe Harbor Statement: The information posted in this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions. The forward-looking statements in this release include statements regarding plans for Jeffrey D. Thomas to begin employment as the Company’s co-chief executive officer in early March, the Company’s proposed acquisition of BrainMaps and plans to pivot the Company’s business towards China. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Factors which could cause results or events to differ from current expectations include, among other things: the inability to complete a financing transaction sufficient to complete the acquisition of BrainMaps and support BrainMaps’ growth in China at terms that are reasonable to the Company or at all; the inability to secure approval of the acquisition from SCIL’s board of directors or its shareholders; general economic and business conditions; effects of potential geopolitical unrest and regional conflicts; competition; and various other factors beyond the Company’s control. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements.
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Scientific Learning Corp.
Hallie Smith, 619-888-0887
Source: Scientific Learning Corp.