CALGARY, June 11, 2012 /CNW/ - Edleun Group, Inc. (TSX-V:EDU) ("Edleun" or the "Company"), the leading provider of quality early childhood education and care in Canada, announced today the appointment of Ms. Mary Ann Curran to the role of Chief Executive Officer. Ms. Curran replaces Mr. Ty Durekas who has resigned from this role effective June 30, 2012 solely for personal reasons. Mr. Durekas will remain with the Company through the end of June to ensure an orderly transition.
An accomplished Canadian senior executive, Ms. Curran has an impressive track record in leading a number of companies through significant growth phases while ensuring that operational performance excelled and profitability was enhanced. Between 1998 and 2010 Ms. Curran had a highly successful career with Jones Apparel Group Canada. After initially serving as its Vice President and Chief Financial and Operating Officer, Ms. Curran was promoted to President and Chief Executive Officer. Under Ms. Curran's leadership Jones Apparel created and implemented a strategy to pursue and open a breadth of market channels and distribution partnerships. In addition, over a six-year period, she developed the company-owned retail stores, growing this channel and making it a significant contributor to that company's overall revenue and profit.
Prior to her role with Jones, Ms. Curran served between 1992 and 1997 in various roles in strategy development, financial management, planning and analysis and information technology with Abitibi-Price, the world's then-largest producer of newsprint. Prior thereto, she held both planning and analysis and auditing positions with Pepsi-Cola Canada Inc. and with Price Waterhouse. Mary Ann holds a BBA from Wilfrid Laurier University in Waterloo, Ontario and a MBA from York University in Toronto. She is a Chartered Accountant and holds the ICD.D designation from the Institute of Corporate Directors.
"The Board of Directors believes that Mary Ann brings an extremely strong background, broad experience, and a diverse skill set to the Company's next stage of growth and profitability," said Mr. Jeffrey Olin, Chairman of Edleun. "In particular, she offers leadership skills and in-depth operational experience that nicely complements our existing senior management team. In addition, Mary Ann's extensive experience with, and exposure to, public entities will be beneficial to the Company and its shareholders. On behalf of the Board we wish to thank Ty for his contribution as CEO and for his efforts in assisting in an effective transition to Ms. Curran."
Mr. Durekas resignation reflects the personal circumstances of his family situation. He noted that, "It is truly with mixed emotions that I leave Edleun in my current capacity as its CEO. There is no doubt that the Company has an outstanding opportunity to continue in its mission as the leading provider of high quality child care services in Canada. I will surely miss actively participating in this success but will continue to monitor and watch its growth as a shareholder."
About Edleun Group, Inc.
Edleun is the leading provider of high-quality, community-based Early Learning & Care child care centres in Canada offering early education and child care services to children ages six weeks to 13 years. Edleun is committed to preparing children for the next step in their education and life, offering families and employers access to and choice of quality early childhood education programs, as well as enhanced opportunities and career advancement for Early Childhood Educators.
Publicly traded on the Toronto Stock Exchange (TSX-V:EDU), the Company's objectives include the acquisition and subsequent improvement of existing child care centres and developing new state-of-the-art Early Learning and Care Centres in underserved Canadian communities.
The Company currently has a total of 49 operating centres in its portfolio and five in various stages of development or redevelopment representing approximately 5,200 licensed child care spaces.
Certain statements in this Release which are not historical facts may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Any statements related to Edleun's projected revenues, earnings, growth rates, revenue mix, staffing and resources, and product plans are forward looking statements as are any statements relating to future events, conditions or circumstances. The use of terms such as "believes", "anticipated", "expected", "projected", "targeting", "estimate", "intend" and similar terms are intended to assist in identification of these forward-looking statements. Readers are cautioned not to place undue reliance upon any such forward-looking statements. Such forward-looking statements are not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause the actual results, performance, achievements or developments of Edleun to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions. Except as required by law, Edleun does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
The Company undertakes no obligation, except as required by law, to update publicly or otherwise any forward-looking information, whether as a result of new information, future events or otherwise, or the above list of factors affecting this information. Many factors could cause the actual results of Edleun to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Dale Kearns, President of Edleun Group, Inc. at (403) 705-0362, or Nick Hurst of the Equicom Group, Inc. at (403) 218-2835.