Lane Five Partners LP (“ Lane Five”), today announced its slate of three candidates for election to the Board of Directors of Ambassadors Group, Inc. (Nasdaq:EPAX) at Ambassadors Group's 2012 annual meeting of shareholders.
Lane Five’s slate of candidates are independent, highly qualified nominees that will add much needed experience in areas key to Ambassadors Group’s business, including capital allocation, strategic technology expertise, focus on operational excellence and costs, student-centric marketing, and corporate governance.
Regarding the merits of Lane Five’s slate of strong independent candidates, Lisa Rapuano of Lane Five commented that, “we believe that our nominees will bring insight, accountability and fresh and relevant perspectives to the Ambassadors Group board. If elected, we believe they will substantially improve Ambassadors Group’s financial profile and the long-term strategic positioning of the valuable People to People Student Ambassadors brand”. If elected, Lane Five’s nominees will hold three of the nine seats on the Company’s board.
Lane Five’s nominees include Peter H. Kamin, formerly of ValueAct Capital, and Dr. Sharon van Wyk, the Chief Operations Officer of the American Public University System, in addition to Ms. Rapuano.“Lane Five has had no previous business relationships with these nominees. Our nominees are well qualified, highly experienced and are committed to working as independent fiduciaries to maximize Ambassadors Group’s value. Each nominee’s accomplishments and reputation speak for themselves. Their collective expertise is directly relevant to helping Ambassadors Group rebuild lost shareholder value,” Ms. Rapuano added. Lane Five expects to file a preliminary proxy statement with the SEC in the coming weeks and, upon clearance by the SEC, distribute definitive copies of the proxy statement and proxy cards to shareholders of Ambassadors Group. Biographies of Lane Five Nominees Information regarding Lane Five's three nominees for the Ambassadors Group’s Board of Directors is set forth below: