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Rosetta Stone Inc. (NYSE:RST), a leading provider of technology-based language-learning solutions, today announced that its Board of Directors has named Stephen M. Swad as President and Chief Executive Officer, effective immediately.
”Steve has become a key operating executive at the company and established a close working relationship with the Board and Rosetta Stone team, with positive involvement in major initiatives and strategic decision-making since he joined Rosetta Stone in November 2010,” said Rosetta Stone Inc. Chairman of the Board, Laurence Franklin. “Steve has been instrumental in establishing the infrastructure, management and processes to position Rosetta Stone to execute on the company’s worldwide growth objectives. Steve has also been active in corporate strategy over the past year and has instituted a robust discipline and rigor surrounding the company’s decision making.”
In selecting Mr. Swad as CEO, Mr. Franklin commented that, “In Steve we have found a leader who has the right mix of vision and strategy, as well as a strong background in operational execution, which will allow Rosetta Stone to pursue its growth plans. Furthermore, we have a leader who understands the importance of balancing long-term growth and future value creation, with the need for shorter-term returns and profitability. After an extensive search process, we are very confident that Steve has the strategic vision and executional excellence to lead Rosetta Stone.”
Mr. Swad said, “I couldn’t be more excited to embrace and lead the opportunity that we have here at Rosetta Stone. The company is a leader in its space, has tremendous brand awareness, world-class technology, and an employee base that is dedicated and passionate about teaching languages to the world. Given my existing tenure with Rosetta Stone, I am intimately familiar with both the opportunities and challenges that the company faces. I believe that we will successfully tackle these challenges and seize opportunities by delivering products and services that customers want, tapping into our great brand, and building a company that employees will be excited to be a part of, all while delivering long-term value to our shareholders and partners.”