PALM SPRINGS, Calif., Nov. 15 /PRNewswire/ -- Tom Adams, president and CEO of Rosetta Stone Inc. was today named the Ernst & Young Entrepreneur Of The Year® 2009 overall national winner. He was also named the Ernst & Young Entrepreneur Of The Year® 2009 national winner in the Retail and Consumer Products category. Now in its 23rd year, the awards recognize leaders and visionaries who demonstrate innovation, financial success and personal commitment as they create and build world-class businesses.
Adams was recognized for growing Rosetta Stone into one of the world's leading providers of technology-based language learning solutions. "Tom Adams' efforts at Rosetta Stone have helped change the way the world learns languages, a critical skill in today's global economy," said James S. Turley, chairman and CEO, Ernst & Young LLP. "For 23 years, the Ernst & Young Entrepreneur Of The Year® awards have recognized the entrepreneurial passion that defines great leaders, and we are proud to add Tom Adams' name to this distinguished list of business leaders."
Adams was honored at the Entrepreneur Of The Year® gala in Palm Springs - the culminating event of the Ernst & Young Strategic Growth Forum, the nation's most prestigious gathering of high-growth, market-leading companies. Awards were given in nine additional categories. All Ernst & Young Entrepreneur Of The Year® winners were selected by an independent panel of judges from approximately 400 regional award recipients.
Making Language Learning Fun
Born in Sweden and educated in the UK, Tom Adams started his career as a commodity merchant. In his travels, he saw first-hand how people struggled with a lack of language skills, and how it hindered business transactions and every other aspect of life in the growing global community.
A chance meeting led to his accepting the position as CEO of a small family-owned business, Fairfield Language Technologies in 2003. Adams reorganized the sales force, developed a scalable business model and rebuilt the research and development team. Moving the company to Washington DC, it was renamed Rosetta Stone after the 19th century archeological find that enabled scholars to finally decipher Egyptian hieroglyphics.
The name was a good fit given the challenge most people face in learning new languages. Rosetta Stone's answer for that is to throw out traditional language learning methods. Their software allows clients to learn and practice their new language through direct, interactive immersion like a child learns a first language at home. Learning takes place through real life visual and audio scenarios, not vocabulary and sentence structure lessons.
Changing the World Through Language
The company's novel approach to learning through technology is quickly gaining ground and the business continues to expand, even in a tough economy. The company has doubled in size since 2007 and had a successful IPO earlier this year. Rosetta Stone's offerings include 31 languages, with headquarters in four countries. Some 10,000 schools in the US have adopted the program, and global expansion plans include clients in government, the military, education and business.
Adams attributes this success to the product and their corporate culture. One of their key values is they want to change the world. Rosetta Stone is doing that through language learning that breaks the mold and breaks down barriers. The company has a unique marketing strategy, which includes infomercials and kiosks at airports and train stations to introduce consumers to the product, as well as sales in traditional retail outlets. Adams himself is fluent in Swedish, English and French with a basic knowledge of Chinese. He's currently learning Russian.
Entrepreneur Of The Year® 2009 national finalists in the Retail and Consumer Products category
In addition to Adams, the Ernst & Young Entrepreneur Of The Year® 2009 national finalists in the Retail and Consumer Products category are: Menderes Akdag, president and CEO of PetMed Express, Inc., dba 1-800-PetMeds , America's largest pet pharmacy, based in Pompano Beach, Florida; Rick Alden, CEO and founder of Park City, Utah-based Skullcandy, Inc. which develops core audio products such as headphones, audio accessories and other audio-enabled lifestyle products; and Tariq Farid, president and CEO of Edible Arrangements International, Inc. of Wallingford, Connecticut; the leading provider of high-quality, artistically-designed, fresh fruit arrangements.
Additional Entrepreneur Of The Year® Category Award Winners
M. Jay Allison of Comstock Resources, Inc. in Texas was named the Ernst & Young Entrepreneur Of The Year® 2009 national winner in the Energy, Chemicals and Mining category.
Lee R. Anderson, Sr. of Minnesota-based APi Group, Inc. was named the Ernst & Young Entrepreneur Of The Year® 2009 national winner in the Real Estate, Hospitality and Construction category.
Bruce L. Downey, formerly of Barr Pharmaceuticals, Inc. in New Jersey was named the Ernst & Young Entrepreneur Of The Year® 2009 national winner in the Health Sciences category.
Robert Klein of Safeguard Properties in Ohio was named the Ernst & Young Entrepreneur Of The Year® 2009 national winner in the Services category.
Dallin A. Larsen of Utah-based MonaVie was named the Ernst & Young Entrepreneur Of The Year® 2009 national winner in the Emerging category.
Timothy J. Leiweke of AEG in Los Angeles, California was named the Ernst & Young Entrepreneur Of The Year® 2009 national winner in the Media and Entertainment category.
Ernest Rady of Insurance Company of the West in San Diego, California was named the Ernst & Young Entrepreneur Of The Year® 2009 national winners in the Financial Services category.
Paul Sagan of Akamai Technologies, Inc. of Cambridge, Massachusetts was named the Ernst & Young Entrepreneur Of The Year® 2009 national winner in the Technology category.
Ken Solinsky of Insight Technology Incorporated in New Hampshire was named the Ernst & Young Entrepreneur Of The Year® 2009 national winner in the Distribution and Manufacturing category.
Video and Photos
To view video of the event and winners, please visit the Ernst & Young channel on You Tube at http://www.youtube.com/user/ErnstandYoungGlobal. Photos of the winners are also available by request.
Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year® awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors.
About Ernst & Young's Entrepreneur Of The Year®
Ernst & Young's Entrepreneur Of The Year® is the world's most prestigious business award for entrepreneurs. The award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year® celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
About Ernst & Young's Strategic Growth Markets Practice
Ernst & Young's Strategic Growth Markets (SGM) practice guides leading high-growth companies. Our multi-disciplinary team of elite professionals provides perspective and advice to help our clients accelerate market leadership. SGM delivers assurance, tax, transactions and advisory services to thousands of companies spanning all industries. Ernst & Young is the undisputed leader in taking companies public, advising key government agencies on the issues impacting high-growth companies, and convening the experts who shape the business climate. For more information, please visit us at http://www.ey.com/us/strategicgrowthmarkets.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
For more information, please visit http://www.ey.com/.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity.
This news release has been issued by Ernst & Young LLP, a member firm of Ernst Young Global Limited located in the US.
Ernst & Young
CONTACT: Katie Johnston, Ernst & Young LLP, +1-201-872-7194,
Katie.Johnston@ey.com
Web Site: http://www.ey.com/
