Whitney Information Network Appoints Key Executives
Whitney Information Network Appoints Key Executives
Executive Vice President, Vice Presidents of Business
Development and Finance Announced For Immediate Release
For More Information:
Earnest Mathis, Inverness Investments 303/794-9450
Ron Simon, CFO 239/542-8999
Comprehensive Communications 480/540-8336
CAPE CORAL, Fla. – May 22, 2002 - Whitney Information Network, Inc. (OTCBB:RUSS), a leading provider of post-secondary career training programs designed to teach students how to accumulate and protect wealth, today announced that it has filled several key positions to strengthen management within the company, in anticipation of continued growth. CFO and Board Member Ron Simon has taken on the additional duties of Executive Vice President; Ched Miller has joined the Company as Vice President of Finance; and Michael Mucci has joined the Company as Vice President of Business Development. Chairman and CEO Russ Whitney said, “We are really pleased to bring on individuals with the exceptional qualifications they bring to Whitney Information Network. I'm sure they will be major contributors in Whitney's success.” Prior to joining Whitney Information Network, Mr. Miller recently was CFO of First Home Builders of Florida in which he managed lender relations, capital management and all accounting functions. He was Principal in the CPA firm of Miller, Helms and Folk, PA, a CPA firm concentrating in the construction and medical industries. He was co-founder of Pension Consultants, Inc., a Fort Myers, Fla. Pension-consulting firm which designed and administered over 75 pension plans. Mr. Miller also was a tax supervisor with Coopers and Lybrand, CPA's in Fort Myers, which specialized in construction industry taxation and Florida sales tax on services. He is a 15-year member of the Florida Institute of CPAs. He has a B.A. from Colgate University, a J.D. from Albany Law School, and has been a licensed CPA since 1986. Mr. Mucci brings 20 years of business experience to the Whitney organization, including eight years in international business. He has worked in the U.S., UK, Mexico, Zimbabwe, and South Africa; and, he has led organizations either as president, CEO, or COO in such diverse industries as mining, manufacturing and retail. Some of his accomplishments include successful turnarounds in Mexican and U.S. manufacturing companies and Zimbabwean mining and industrial organizations. Mr. Mucci was also part of a group that led a successful IPO of an industrial products company onto the Zimbabwean stock exchange, and part of a management buyout group that bought a UK industrial company, with holdings in England, Mexico, Chile and the U.S. Over the past 10 years, Mr. Mucci has been seated on a number of Boards in the U.S., U.K., Mexico and Africa, including as chairman for two South African companies. He graduated in 1983 from Pennsylvania State University, where he majored in accounting. Whitney Information Network, Inc. recently announced record sales of $15.5 million for the first quarter ended three months ended March 31, 2002, a 38 percent increase compared to the $11.2 million reported for the same quarter last year. Whitney Information Network, Inc. has emerged as a leader in the post-secondary career training sector. Whitney is a fully integrated training and education company that creates, produces and markets a wide variety of training programs. Thousands of students register each week for training in real estate investment, personal finance and small business development. The Company maintains its International Corporate Headquarters in Cape Coral, Florida, with its consulting group based in Salt Lake City, Utah. Its Canadian subsidiary, Whitney Canada, Inc., conducts its operations from the Toronto suburb of Markham, Ontario and its United Kingdom subsidiary, Whitney UK, Limited is located in Chiswick, England. The Company is listed on the Internet at http://www.russwhitney.com and its shares trade under the ticker symbol RUSS on the Electronic Bulletin Board. Information included in this news release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 ("Reform Act"). Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results and performance of the Company to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statements. In connection with the safe harbor provisions of the reform act, the Company has identified important factors that could cause actual results to differ materially from such expectations, including operating uncertainty, uncertainties relating to economic issues and competition. Reference is made to all of the Company's SEC filings, including the Company's Reports on Forms 10KSB, 10QSB and other periodic reports.
Development and Finance Announced For Immediate Release
For More Information:
Earnest Mathis, Inverness Investments 303/794-9450
Ron Simon, CFO 239/542-8999
Comprehensive Communications 480/540-8336
CAPE CORAL, Fla. – May 22, 2002 - Whitney Information Network, Inc. (OTCBB:RUSS), a leading provider of post-secondary career training programs designed to teach students how to accumulate and protect wealth, today announced that it has filled several key positions to strengthen management within the company, in anticipation of continued growth. CFO and Board Member Ron Simon has taken on the additional duties of Executive Vice President; Ched Miller has joined the Company as Vice President of Finance; and Michael Mucci has joined the Company as Vice President of Business Development. Chairman and CEO Russ Whitney said, “We are really pleased to bring on individuals with the exceptional qualifications they bring to Whitney Information Network. I'm sure they will be major contributors in Whitney's success.” Prior to joining Whitney Information Network, Mr. Miller recently was CFO of First Home Builders of Florida in which he managed lender relations, capital management and all accounting functions. He was Principal in the CPA firm of Miller, Helms and Folk, PA, a CPA firm concentrating in the construction and medical industries. He was co-founder of Pension Consultants, Inc., a Fort Myers, Fla. Pension-consulting firm which designed and administered over 75 pension plans. Mr. Miller also was a tax supervisor with Coopers and Lybrand, CPA's in Fort Myers, which specialized in construction industry taxation and Florida sales tax on services. He is a 15-year member of the Florida Institute of CPAs. He has a B.A. from Colgate University, a J.D. from Albany Law School, and has been a licensed CPA since 1986. Mr. Mucci brings 20 years of business experience to the Whitney organization, including eight years in international business. He has worked in the U.S., UK, Mexico, Zimbabwe, and South Africa; and, he has led organizations either as president, CEO, or COO in such diverse industries as mining, manufacturing and retail. Some of his accomplishments include successful turnarounds in Mexican and U.S. manufacturing companies and Zimbabwean mining and industrial organizations. Mr. Mucci was also part of a group that led a successful IPO of an industrial products company onto the Zimbabwean stock exchange, and part of a management buyout group that bought a UK industrial company, with holdings in England, Mexico, Chile and the U.S. Over the past 10 years, Mr. Mucci has been seated on a number of Boards in the U.S., U.K., Mexico and Africa, including as chairman for two South African companies. He graduated in 1983 from Pennsylvania State University, where he majored in accounting. Whitney Information Network, Inc. recently announced record sales of $15.5 million for the first quarter ended three months ended March 31, 2002, a 38 percent increase compared to the $11.2 million reported for the same quarter last year. Whitney Information Network, Inc. has emerged as a leader in the post-secondary career training sector. Whitney is a fully integrated training and education company that creates, produces and markets a wide variety of training programs. Thousands of students register each week for training in real estate investment, personal finance and small business development. The Company maintains its International Corporate Headquarters in Cape Coral, Florida, with its consulting group based in Salt Lake City, Utah. Its Canadian subsidiary, Whitney Canada, Inc., conducts its operations from the Toronto suburb of Markham, Ontario and its United Kingdom subsidiary, Whitney UK, Limited is located in Chiswick, England. The Company is listed on the Internet at http://www.russwhitney.com and its shares trade under the ticker symbol RUSS on the Electronic Bulletin Board. Information included in this news release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 ("Reform Act"). Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results and performance of the Company to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statements. In connection with the safe harbor provisions of the reform act, the Company has identified important factors that could cause actual results to differ materially from such expectations, including operating uncertainty, uncertainties relating to economic issues and competition. Reference is made to all of the Company's SEC filings, including the Company's Reports on Forms 10KSB, 10QSB and other periodic reports.