NEW YORK, Sept. 7 /PRNewswire-FirstCall/ -- The Princeton Review today announced the appointment of two new members to its K-12 Division management team, Mark Wood as Vice President of National Sales and Marketing, and Robert Bonasia as Vice President of Finance. The announcement was made by Michael J. Perik, President and Chief Executive Officer.
Both Mr. Wood and Mr. Bonasia join The Princeton Review from Houghton Mifflin. Mr. Wood most recently served as the National Vice President, Sales Operations for Houghton Mifflin's Assessment Division. Prior to that, he was the Vice President of Sales and Marketing for Achievement Technologies, Inc. Mr. Wood holds a B.S. in Business from Embry-Riddle Aeronautical University.
"We are so pleased to have Mark and Robert join our management team. Mark is a consummate sales professional with a mandate to build a team of results- oriented professionals who can fully leverage our brand and products in this fast-growing market," Mr. Perik said.
Prior to his appointment to The Princeton Review, Mr. Bonasia was the Director of Financial Operations at Houghton's Learning Technologies Division, a position he assumed after the company bought Achievement Technologies where Mr. Perik had served as CEO. He also worked as a Financial Analyst at The Learning Company, which Mr. Perik led. Mr. Bonasia holds a B.S. in Finance from Providence College. He succeeds Rob Cohen, who will perform the duties of Chief Financial Officer for Princeton Review's Test Preparation Division.
"Having worked with Robert in three previous companies, I know that his experience and professionalism will help The Princeton Review achieve its goal of profitable growth in 2008 and beyond," said Mr. Perik.
The company also announced that it had granted Stephen Richards a stock option to purchase 750,000 shares of the company's common stock on August 30, 2007, as an inducement to join the company. The exercise price is $6.40 per share, the closing price of the common stock on the date of the grant. The option vests quarterly over the next four years beginning on November 30, 2007 and expires ten years from the date of grant.
About The Princeton Review
The Princeton Review is a pioneer in the world of education. Founded in 1981 and headquartered in New York City, the Company offers private tutoring and classroom and online test preparation to help students improve their scores in college and graduate school admissions tests. The Company's free website, http://www.princetonreview.com/, helps over half of university-bound student's research, apply to, prepare for, and learn how to pay for their higher education. In addition, The Princeton Review works with school districts around the U.S. to measurably strengthen students' academic skills by connecting ongoing assessment with professional development and instruction and by providing districts with college and career resources for both students and guidance counselors. The Company also authors more than 200 print and software titles on test preparation, college and graduate school selection and admissions, and related topics.
For more information, contact: Harriet Brand, 212-874-8282 Ext. 1091,
