ITC Learning Corporation Announces Appointment of Charles Fred to Board of Directors
5 April 2000
ITC Learning Corporation Announces Appointment of Charles Fred to Board of Directors
HERNDON, Va.--April 5, 2000--ITC Learning Corporation , a leading provider of technology-based industrial skills training, announced today the appointment of Charles L. Fred to the company's Board of Directors. Fred's appointment comes on the heels of management changes announced this week and Thomas C. Byrnes' appointment to ITC's Board of Directors earlier this year. This is the latest in a series of moves ITC is making as it refocuses its commitment to its core strengths in technology-based industrial skills training.Mr. Fred replaces Peter J. Li who will now serve the company in an advisory capacity on training and education initiatives. Fred, an internationally known speaker, author and expert on the subjects of quality, leadership and learning, has extensive management and operational experience in the aerospace, telecommunications and education industries.
"We're delighted to have Charles Fred join the Board of Directors," noted Christopher E. Mack, President of ITC Learning. "Mr. Fred brings to ITC an impressive set of credentials uniquely aligned with our mission to provide best-of-breed industrial training. His expertise will be an invaluable resource for the company as it continues to reaffirm this mission."
Fred was most recently President and CEO of Omega Performance Corporation, a global training provider to the financial services industry, prior to its sale to The International Institute of Research ("IIR"). Omega's board hired Fred in early 1999 to revive the 25-year-old company in the wake of substantial losses in 1997 and 1998. Under Fred's leadership, Omega returned to profitability and a successful acquisition was recently completed.
"Joining ITC's Board of Directors as the company realigns its corporate direction is an exciting opportunity," Fred explained. "ITC's broad range of CD-ROM based courseware coupled with its endeavors to develop new web-based training products, re-purpose existing content for web delivery and expand the company's e-learning capabilities position the company well to lead in the industrial training marketplace. I look forward to helping ITC achieve this potential."
Fred's background also includes vital roles in two other training organizations, where he was President of both Kaplan@Work (part of The Washington Post Company) and International Learning System, Inc. In the decade prior to working in the adult education industry, Fred occupied key management and engineering positions in US WEST Inc. and Boeing Commercial Airplane Company. Fred describes his vision for a new educational paradigm in his book, Breakaway Performance: The New Rules for Delivering Value to Customers - Fast.
Charles Fred joins Thomas C. Byrne, who was appointed to the company's Board of Directors in January. Mr. Byrne is Managing Partner of New River Capital Partners, L.P., a private equity firm, and the former Vice-Chairman of Blockbuster Entertainment Group.
John D. Sanders, Chairman of ITC Learning added, "We have known Chuck for many years and have followed his career. His experience in leading companies to their next stage of growth is well suited for ITC. We also express our appreciation to Peter Li for his service as a Director and for his continued efforts to assist the company."
"Going forward into the year 2000 ITC will continue to build on the leadership we established in the industrial market over the past two decades," Mack continued. "Drawing on our key assets--extensive, quality industrial training content and expertise in technology-based training--and through crucial strategic alliances, ITC offers its client base complete learning solutions unmatched in the industrial training marketplace."
About ITC
ITC Learning Corporation develops and markets workplace training solutions for industrial business, education, and government segments with headquarters in the Greater Washington, DC area and offices in Australia, Canada, and United Kingdom. With over 5,000 organizations worldwide using ITC's products to improve employee productivity and skills, ITC is recognized for excellence in industrial course content, training delivery technologies, and customer support. ITC provides customers with total training solutions, complete with services, administrative software and approximately 600 Video, CD-ROM, intranet, and Internet delivered multimedia courses on topics such as Industrial Technical Skills, Regulatory Compliance, Basic Literacy Skills, Information Technology, Business Productivity, and Personal Computer Skills. The Company's stock is traded on NASDAQ under the symbol ITCC.
ITC Learning Corporation is located in Herndon, VA and can be reached at (800) 638-3757 or on the web at www.itclearning.com.
This press release contains forward-looking statements. The words "believe," "expect," "intend," "anticipate," and "project," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks or uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of acceptance of the Company's products by the marketplace, competition, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.