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EDT Learning Appoints New CEO and Receives Financing
- EDT Learning Hires Former American Management Association CEO to Finalize Its Push to Profitability in the E-learning Field and Receives an Additional $9.5 Million in Funding -
LOS ANGELES (April 30, 2001) - As part of its plan to achieve profitability in the next 12 months, EDT Learning today announced it has engaged a new chief executive officer, George Weathersby, and received an additional $9.5 million in funding. Mr. Weathersby, a seasoned professional manager, brings more than 18 years of experience at the president/CEO level to his new role at EDT Learning.
Weathersby has led a number of businesses in the areas of learning and software development, most recently as president and CEO of the American Management Association. Prior to his term at the AMA, Mr. Weathersby was president of the Oxford Management Corporation, managing a $50 million pool of private capital. Previously he was president of the Ontario Corporation, an aerospace manufacturing and service company, as well as of the Curtis Publishing Company.
With a Ph.D. in decision and control theory from Harvard University; a Master of Business Administration, a Master of Science in Nuclear Engineering, and a Bachelor of Science in Engineering Physics from the University of California, Berkeley, Mr. Weathersby has been an active member of the academic world for more than 18 years. He held faculty and administrative appointments at Harvard University and the University of California, Berkeley, and he served six years as Commissioner for Higher Education for the state of Indiana.
As a published author (6 books and more than 50 articles) and with experience on the boards of several major companies, Weathersby is a solid choice to lead EDT Learning to profitability in a short period of time.
Furthering bolstering its market position, EDT Learning has received an additional $9.5 million in financing from Investor AB; Leeds Equity Partners III, L.P.; and the Odyssey Fund, L.P.
About EDT Learning
EDT Learning designs and develops online solution sets that help individuals perform and organizations excel. For companies looking to boost employees' productivity and efficiency, EDT Learning provides easy-to-implement, cost-effective solutions targeted at specific business needs. For companies looking to drive change deep within their organizations, EDT Learning provides implementation components that complement the strategic planning expertise of EDT Learning's top-tier consultancy partners, which include Andersen and the Strategos Institute.
More than 800,000 employees in leading organizations worldwide have benefited from EDT Learning solutions, and the company has earned more than 50 industry awards. Key corporate clients include Toyota, Lexus, United Airlines, and Cisco. The company is headquartered in Los Angeles, and has business development offices in Chicago, Atlanta, New Jersey, and Boston. Find out more about EDT Learning at www.edtlearning.com
Media Contact:
Lori Escalante
EDT Learning
310-305-4290
lori.escalante@edtlearning.com
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