NEW YORK, Nov 19, 2008 (BUSINESS WIRE) -- Kaplan's longtime chairman and chief executive officer Jonathan Grayer
today announced that he plans to resign his position. Donald E. Graham,
chairman and chief executive officer of The Washington Post Company
(NYSE:WPO), announced that Kaplan president Andrew S. Rosen, who has
also served as chief executive officer of Kaplan Higher Education, has
been named the new chairman and chief executive officer of Kaplan.
"This week marks the completion of my 17th year at Kaplan,"
said Grayer. "It has been a wonderful journey with great people, many of
whom joined me in 1992. This group of talented, highly energetic and
ambitious colleagues has transformed Kaplan into one of the world's
largest diversified education companies. More importantly, they have
played a critical role in using online learning to expand educational
access and to create innovative new tools for improving the educational
"It's now time for me to allow new leadership to guide our great
company. Andy and I have worked side by side since the day I brought him
to Kaplan from Newsweek in 1992. His record as the leader of our higher
education company is remarkable, and he has the confidence of all who
work here. I have no doubt he will continue to focus Kaplan's culture on
what matters most -- successful futures for our students."
Graham added, "Jonathan has been a sensational leader of Kaplan. He took
over a tiny money-losing test prep company and turned it in to a
worldwide powerhouse. He also recruited a great, deep team, and turns
over the company to another superb and proven leader, Andy Rosen."
With over $2 billion in annual revenue in 2007, Kaplan now generates
half of The Washington Post Company's total revenue. Its businesses
range from higher education, to professional training, to services for
kids and schools, as well as its well-known test preparation courses.
In his current role, Rosen presides over Kaplan Higher Education, one of
the world's largest providers of post-secondary programs, serving
100,000 students in the U.S. and abroad. Kaplan has more than 70
campuses, and half of its students learn online at Kaplan University.
Under Rosen's leadership, Kaplan University has grown from 34 students
in 2001 to 44,000 students today. It also operates one of the country's
first fully online law schools and has branched out into the online high
school market. Kaplan University and Kaplan Colleges offer undergraduate
and graduate degrees, associates degrees and certifications in a wide
variety of professional fields.
Rosen came to The Washington Post Company in 1986 as a staff attorney
for The Washington Post newspaper. He moved to Newsweek as assistant
counsel in 1988 before joining Grayer at Kaplan in 1992. At Kaplan, he
served in numerous management roles prior to assuming the role of
president and chief operating officer in early 1997. Before joining The
Washington Post Company, Rosen served as law clerk to the Hon. Levin H.
Campbell, Chief Judge for the U.S. Court of Appeals for the First
Circuit, in Boston. He holds an AB degree from Duke University and a JD
from Yale Law School.
Grayer joined Kaplan as regional operations director in 1991 and assumed
the position of CEO in 1994. At that time, Kaplan was an $80 million
test preparation company struggling to achieve profitability. Under
Grayer's leadership, Kaplan grew to become one of the world's leading
education companies, serving more than one million students annually in
more than 30 countries worldwide. Grayer will consult with the company
and help in the transition.
"After some time with my family, I expect to resume a professional life
centered on entrepreneurial activity, investment and philanthropy,"
Grayer said. "I am thankful to Don Graham, the board members and
shareholders of The Washington Post Company, and most importantly, the
thousands of Kaplan staffers who have made the company's success
Kaplan, Inc., is a leading international provider of educational and
career services for individuals, schools and businesses. Kaplan serves
students of all ages through a wide array of offerings including higher
education, test preparation, professional training and programs for kids
and schools. Kaplan is a subsidiary of The Washington Post Company
(NYSE:WPO) and its largest and fastest-growing division.
About The Washington Post Company (www.washpostco.com)
The Washington Post Company (NYSE:WPO) is a diversified education and
media company whose principal operations include educational and career
services, newspaper and magazine publishing, television broadcasting,
cable television systems and electronic information services. The
Company owns The
Washington Post; Washingtonpost.Newsweek Interactive (WPNI), the
online publishing subsidiary whose flagship products include washingtonpost.com,
Tiempo Latino; The
Gazette and Southern
Maryland Newspapers; The
Herald (Everett, WA); Newsweek
magazine; Post--Newsweek Stations (Detroit,
Antonio and Jacksonville);
ONE, serving subscribers in midwestern, western and southern states;
an online lead generation provider.
The Company also owns Kaplan,
Inc., a leading global provider of educational services to
individuals, schools and businesses, serving over one million students
with operations in more than 30 countries. Its international programs
include higher education, test preparation, language instruction and
The Company has ownership interests in the Los
Angeles Times--Washington Post News Service and Bowater
Mersey Paper Company.
SOURCE: The Washington Post Company
The Washington Post Company