Leading Language-Learning Brand Relocates President of Consumer
Business to Tokyo
ARLINGTON, Va.--(BUSINESS WIRE)--Jun. 19, 2012--
Furthering a commitment to grow its business in Asia, Rosetta Stone Inc.
(NYSE: RST), one of the world’s best-known language-learning brands, has
announced that a top executive will relocate to its Tokyo office to
oversee the company’s global consumer operations.
Pragnesh Shah, President of Global Consumer Markets at Rosetta Stone,
will move from the company’s corporate headquarters in Arlington, VA to
its Tokyo office later this summer. While Mr. Shah’s role and
responsibilities will not change—he will continue to lead Rosetta
Stone’s consumer-facing business around the world—his new posting is
expected to achieve deeper penetration in the sizable language-learning
markets of Asia. Of the $83 billion global market for language learning,
Japan and Korea alone represent nearly $20 billion. Rosetta Stone has
offices in both of those countries, as well as Brazil, the U.K., and the
US, which remains the foundation of the company’s business.
“Rosetta Stone is a go-anywhere brand, and our products are embraced by
individuals and institutions throughout the world,” said CEO Steve Swad.
“Asia has become a pillar of growth for us, and this move reflects our
commitment to serving that market. We already enjoy strong brand
awareness among consumers in Korea and Japan, and we’re working to gain
traction in both our consumer and institutional businesses there.
Ultimately, our success in Asia requires strong leadership and intense
focus, and I am delighted that Prag will bring his leadership experience
and expertise to Asia.”
Previously an e-commerce and consumer services executive at Sprint
Nextel and Network Solutions, Mr. Shah came to Rosetta Stone in November
2011. He has helped drive growth in the US market, open up new sales
channels across Europe and Asia, and launch a new online subscription
model—including mobile applications—to complement Rosetta Stone’s
well-known CD-Rom product.
“Asia presents a particularly rich opportunity for us—but also a
significant challenge,” said Shah. “The language-learning industry in
Asia is fragmented and the competitive dynamics are different than in
the US, so we need to increase our focus to succeed. I’m looking forward
to getting established on the ground in Tokyo and working with our teams
throughout Asia to capitalize on what we believe is a huge opportunity
to change the way people learn new languages with Rosetta Stone’s unique
and powerful technology-based services.”
About Rosetta Stone Inc.
Rosetta Stone Inc. provides cutting-edge interactive technology that is
changing the way the world learns languages. The company’s proprietary
learning techniques—acclaimed for their power to unlock the natural
language-learning ability in everyone—are used by schools, businesses,
government organizations and millions of individuals around the world.
Rosetta Stone offers courses in 30 languages, from the most commonly
spoken (like English, Spanish and Mandarin) to the less prominent
(including Swahili, Swedish and Tagalog). The company was founded in
1992 on the core beliefs that learning to speak a language should be a
natural and instinctive process, and that interactive technology can
activate the language immersion method powerfully for learners of any
age. Rosetta Stone is based in Arlington, VA., and has offices in
Harrisonburg, VA, Boulder, CO, Tokyo, Seoul, London, and Sao Paulo.
For more information, visit RosettaStone.com.
Source: Rosetta Stone Inc.
Rosetta Stone Inc.
Steve Somers, CFA
President, Investor Relations
Senior Director, Global Communications