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Franklin Covey Co. Appoints Michael Fung As New Member Of Board Of Directors

Franklin Covey Co. (NYSE: FC), a global performance improvement company, announced today the appointment of Michael Fung to Franklin Covey's Board of Directors, effective immediately. Fung most recently retired as the Senior Vice President and Chief Financial Officer of Wal-Mart U.S. in February 2012.

“We are so delighted to have Michael join the Franklin Covey board,” said Bob Whitman, Chairman and CEO, Franklin Covey. “Beyond his proven financial and business expertise, Michael also has a keen appreciation for the importance and impact of building leaders who can execute with excellence. Michael has helped develop leaders in every organization in which he has served, and has received numerous leadership awards over the years. Additionally, his unique global enterprise experience will help us to further accelerate Franklin Covey's international growth strategy. He will be an extremely valuable addition to our already exceptional board.”

“I am honored to join Franklin Covey, an organization that is committed to the development of leaders throughout the world,” said Michael Fung. “Franklin Covey helps organizations maximize the productivity of their people and significantly improve their execution through engaging every person toward the organization’s most important priorities. Leadership is a common denominator across cultures and I am excited to help the company continue its strong growth trajectory as it expands in the global marketplace. I believe that Franklin Covey has hit an important inflection point, and is poised for accelerated growth. I look forward to helping in any way I can to help to take advantage of this great opportunity.”

Fung spent 11 years at Wal-Mart, joining the company in 2001 as Vice President, Finance and Administration for Global Procurement. In February 2003, he was promoted to Senior Vice President, Internal Audit Services and was later promoted as the Senior Vice President and CFO in 2006. In that role, he was responsible for U.S. finance operations, including strategy, merchandising, logistics, real estate, operations, dotcom, and financial planning and analysis.

Prior to joining Wal-Mart, Fung served for five years as Vice President and Chief Financial Officer for Sensient Technologies Corporation, a global manufacturer of colors, flavors, and fragrances. He served for three years as Senior Vice President and Chief Financial Officer for Vanstar Corporation, a computer reseller and network integrator. Prior to that, he served for four years as Vice President and Chief Financial Officer for Bass Pro Shops, Inc., a direct mail and retail company of sporting goods. He also spent 11 years at Beatrice Companies, Inc., serving in his last role with the company as the Vice President and Corporate Controller. He began his career with the accounting firm of Deloitte Touche in Chicago, Illinois.

Fung received his MBA from the University of Chicago’s Booth School of Business, his BS in Accounting from the University of Illinois at Chicago and his CPA license from the State of Illinois.

Fung is a member of the Financial Executives Institute and the American Institute of Certified Public Accountants. He is a board member and Chair of the Asian Pacific Islander American Scholarship Fund, a member of the Committee of 100, and The University of Illinois Foundation.

Fung will initially serve on the board’s Audit Committee. He has been appointed to a term expiring at the annual meeting of the Company’s shareholders to be held following the end of fiscal 2012.

About Franklin Covey

Franklin Covey Co. (NYSE: FC) is a global company specializing in performance improvement. We help organizations achieve results that require a change in human behavior. Our expertise is in seven areas: leadership, execution, productivity, trust, sales performance, customer loyalty, and education. Franklin Covey clients have included 90 percent of the Fortune 100, more than 75 percent of the Fortune 500, thousands of small- and mid-sized businesses, as well as numerous government entities and educational institutions. Franklin Covey has more than 40 direct and licensee offices providing professional services in over 140 countries. For more information, visit www.franklincovey.com .

Copyright Business Wire 2010

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