GREENVILLE, Wis., — School Specialty, Inc. (OTCQB: SCOO) (“School Specialty” or “the Company”), a leading provider of products and services to the education market, today announced that its Board of Directors has appointed Michael Buenzow as interim Chief Executive Officer. Mr. Buenzow succeeds Joseph Yorio, President and CEO of School Specialty since 2014, who has resigned from the Company to pursue other opportunities. Mr. Buenzow will begin his role effective immediately.
“I, along with the rest of School Specialty’s Board of Directors, am excited to welcome Michael to our team and believe that his skill set aligns well with the Company’s strategic objectives,” said Gus Halas, Chairman of the Board of Directors. “Michael has an impressive leadership background, and we are looking forward to utilizing his interim management expertise while we conduct a formal search process for a new CEO. We greatly appreciate everything that Joseph has done for School Specialty and wish him well in his future endeavors.”
Mr. Buenzow is a proven executive with more than 25 years of interim management and operational experience, having served as interim CEO for numerous companies including Bush Furniture and Huffy Bicycle. His experience spans a number of industries, including furniture, retail and consumer products. Based in Chicago, Mr. Buenzow currently is a Senior Managing Director at FTI Consulting.
Commenting on his appointment, Mr. Buenzow said, “I am eager to join the School Specialty team as the Company continues to lead the industry in creating safe, integrated learning environments that support positive outcomes for students. The Company has a strong future ahead, and I am looking forward to working closely with the entire School Specialty team and the Board of Directors to successfully execute on our strategic objectives and maximize shareholder value.”
Outgoing President and CEO, Joseph Yorio, said, “I am proud of all that we have accomplished in the four years that I have led School Specialty, but believe the time is right for me to move on to the next phase of my professional life. I have full confidence in the team and their ability to execute and drive long-term shareholder value.”
The appointment of Mr. Buenzow is coupled with a comprehensive search to hire a permanent CEO for School Specialty. This process is expected to commence shortly. Mr. Buenzow will remain in his role as interim CEO until the transition to a permanent CEO has been completed.