DALLAS, April 19, 2011 (GLOBE NEWSWIRE) -- Archipelago Learning Inc. (Nasdaq:ARCL), a leading subscription-based, software-as-a-service (SaaS) provider of education products, announced today that our Board of Directors has appointed Tim McEwen as Chairman of the Board. This appointment is in addition to Mr. McEwen's current role as our President and Chief Executive Officer.
Peter O. Wilde, Managing Director of Providence Equity Partners, will continue to serve as a Director on our Board and stated, "The Board and I are pleased with the leadership Tim McEwen has demonstrated as President and CEO. We have full confidence that he will do an outstanding job as Chairman of our Board."
The Board has also reorganized the committees to be fully independent as we move toward meeting the corporate governance compliance requirements of NASDAQ. The committee compositions are available on our website in the Corporate Governance section at http://investor.archipelagolearning.com.
About Archipelago Learning
Archipelago Learning (Nasdaq:ARCL) is a leading subscription-based, software-as-a-service (SaaS) provider of education products used by approximately 13 million students in nearly 37,500 schools throughout the United States, Canada, and the United Kingdom. Our supplemental product offerings facilitate the evolution of education as technology transforms the learning experience. For more information, please visit us at www.archipelagolearning.com.
The Archipelago Learning, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6864
Forward Looking Statements
This press release referred to therein may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company. These forward-looking statements are based on current information and expectations, and are subject to risks and uncertainties discussed in our filings with the Securities and Exchange Commission, which could cause the Company's actual results to differ materially from expected results. The Company undertakes no obligation to publicly update any forward-looking statement contained in this release, whether as a result of new information, future developments or otherwise, except as may be required by law.