Princeton Review Nabs High Profile CEO

Princeton Review REVU (NASDAQ), a leading provider of test preparation services and educational support services, in press release today announced:

"... it has reached a definitive agreement with Bain Capital Ventures and Prides Capital under which the two private investors have made a $60 million of preferred stock investment in the company. The preferred stock will be convertible into common stock at $6.00 a share and for four years will accrue a six percent annual dividend. Additionally, in connection with the agreement, the Company will retire its B- 1 Convertible Preferred Stock. The Princeton Review also announced that Michael J. Perik, former CEO of The Learning Company, will become the new Chief Executive Officer of the Princeton Review, effective immediately. He succeeds the company's founder, John S. Katzman, who will remain as Executive Chairman."

The selection of Perik is a very positive choice. Perik has shown himself over the years to be a highly successful CEO. His background in developing the Learning Company into a powerhouse software company and his more recent and earlier work in private investment will only help him in his new position with the Princeton Review. He ultimately sold the Learning Company to Mattel at just the right moment. Keep a very close eye on the Princeton Review.

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