Whitney Information Network, Inc. (Pink Sheets:RUSS) is pleased to
announce it has named Mr. John F. Kane as President and Chief Operating
Officer, effective June 20, 2008. In addition, the board reorganized and
eliminated the position of Chairman of the Board, previously held by the
company's founder, Mr. Russell A. Whitney. Mr. Whitney remains as a
director.
Mr. Kane has served as Interim President of the Company since December
4, 2007. Previously he had held the position of Executive Vice
President, Operations, and Executive Vice President, Real Estate. Mr.
Kane has been with the company and its predecessors since the business
was founded in 1987, and he has been instrumental in developing the
Company’s technology-based educational media.
In addition, Mr. Kane has led the Company’s
creation and development of key alliances, including Rich Dad Education,
a joint venture with Rich Global, LLC. In November 2007, he joined the
Company's Board of Directors.
The Company also announced that Steven C. Barre has been named to the
new position of Lead Director. Mr. Barre has served on the Board as an
independent director since February 2008. He was the Senior Vice
President, General Counsel and Secretary of Jacuzzi Brands, Inc. until
February 2007, when the company was sold to a major private equity firm.
Jacuzzi was a New York Stock Exchange company with revenues of $1.3
billion. A key member of the Jacuzzi Brands management team, Mr. Barre
was the point man in executing the company's debt restructuring in 2001
and the resulting disposition program from 2002 to 2005. He lives in
Juno Beach, Florida.
"The Board's action designating John as President and COO shows our
confidence in his leadership and his long-term commitment to the company’s
operational excellence," Mr. Barre said. "I am excited to work with John
and his team as the company evolves its educational platform and focuses
on building shareholder value."
"I look forward to working with the reorganized Board and Steven as Lead
Director," said Mr. Kane. "It is also very encouraging to receive the
support that the Board has shown by naming me President and COO. Our
entire team looks forward to the continued transition of this company."
About Whitney Information Network, Inc.:
Whitney Information Network, Inc. (Pink Sheets:RUSS) is a provider of
adult education and helps students achieve personal success through
comprehensive instruction and mentorships in real estate education and
financial markets education in the United States, United Kingdom,
Canada, Germany and Costa Rica. Additional information can be found at www.wincorporate.com.
Special Note Regarding Forward Looking Statements:
This document contains certain forward looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements deal with our current plans, intentions,
beliefs and expectations and statements of future economic performance,
and include statements regarding the outcomes and effects of pending
regulatory and other investigations. Forward-looking statements involve
known and unknown risks and uncertainties which may cause our actual
results in future periods to differ materially from what is currently
anticipated. No forward-looking statement is a guarantee of future
performance, and investors should not place undue reliance on any
forward-looking statement. The Company undertakes no obligation to
update publicly any forward-looking statements for any reason, even if
new information becomes available or other events occur in the future.
Investors are urged to read the risk factors disclosed in the Company's
public filings with the Securities and Exchange Commission.
Whitney Information Network, Inc., Cape Coral
Connie Schwarberg,
239-542-0643
