ARLINGTON, Va.--(BUSINESS WIRE)--May. 1, 2012--
Rosetta Stone Inc. (NYSE:RST), a leading provider of technology-based
language-learning solutions, today announced that it has named Thomas M.
Pierno Chief Financial Officer, effective May 2, 2012.
Pierno will report to Steve Swad, President and Chief Executive Officer,
and will have responsibility for all financial functions including
Accounting, Finance, Tax, Investor Relations, and Treasury as well as
oversee the company’s global distribution and fulfillment functions for
Steve Swad said, “I am very pleased to have Tom join the Rosetta Stone
leadership team. Tom brings broad and deep financial expertise across
all areas of financial management as well as a strong track record with
public company matters, capital markets and mergers and acquisitions. I
expect Tom to continue to evolve the finance function at Rosetta Stone
to meet and support the needs and challenges of the company, while also
acting as a partner to the business. I will look to Tom to be a key team
member as we deploy our strategy and deliver on our opportunities.” Swad
continued, “The Board and I conducted an extensive search and believe
that we have found the right financial partner to drive results. Not
only do we have confidence in his abilities, but I have firsthand
experience working with Tom and can attest to his professionalism and
acumen. In addition, Tom brings to us strong international experience
and an operational execution mindset.”
Pierno most recently served as CFO at Vertis Communications, a marketing
communications company, overseeing all financial functions including
accounting, compliance, tax, FP&A, treasury, and corporate development.
Additionally during his time at Vertis, he directed supply chain and
information technology operations. Prior to his role as CFO of Vertis
Communications, Pierno served as Vice President, Financial Planning and
Treasury at Comverse Technology, a global provider of software and
systems, where he was responsible for worldwide budgets, forecasts,
special projects and treasury operations. Prior to Comverse Technology,
Tom spent 11 years with AOL, most recently serving as Senior Vice
President and Controller. While at AOL, Tom held financial leadership
positions in their subscription and international businesses, their
compliance function and worked on various strategic acquisitions. Before
AOL, Tom was chief financial officer at World Color Press, a
publicly-traded commercial printer of magazines, catalogs, direct mail
and books. He began his career at Ernst & Young and is a Certified
Public Accountant. He graduated summa cum laude with an MBA and BBA in
Accounting from Pace University.
Tom Pierno said, “It is an exciting time to be joining Rosetta Stone.
The company has created innovative solutions and built an incredible
brand. I am pleased to be joining the team led by Steve and look forward
to helping realize the opportunities in front of the company. Continuing
the development of the finance organization, working to improve the
company’s businesses in the U.S. and abroad and growing profitability
will be key areas of focus for me. I think my deep experience as both a
financial leader and business partner is well suited to deliver value to
customers, employees and stakeholders.”
About Rosetta Stone Inc.
Rosetta Stone Inc. provides interactive solutions and cutting-edge
technology that is changing the way the world learns languages. Rosetta
Stone’s proprietary learning techniques are acclaimed for the power to
unlock the natural language-learning ability in everyone. The company
offers 30 languages, from the most commonly spoken, like English,
Mandarin and Spanish, to the less widely used, like Swahili and Tagalog.
Rosetta Stone solutions are used by schools, businesses, global
organizations, and millions of individuals in more than 150 countries
throughout the world. The company was founded in 1992 on the core
beliefs that learning a language should be natural and instinctive and
that interactive technology can replicate and activate the immersion
method powerfully for learners of any age. The company is based in
Arlington, VA. For more information, visit RosettaStone.com.
"Rosetta Stone" is a registered trademark of Rosetta Stone Ltd.
Source: Rosetta Stone Inc.
Rosetta Stone Inc.
Steve Somers, CFA