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School Specialty, Inc. Appoints Michael P. Lavelle as New President and CEO


PRESS RELEASE
 
 

GREENVILLE, Wis., Jan. 12, 2012 (GLOBE NEWSWIRE) -- School Specialty,
Inc. (Nasdaq:SCHS) announced that Michael P. Lavelle has been appointed
as its President and CEO effective today. He has also been appointed to
the School Specialty, Inc. Board of Directors. Mr. Lavelle, 42, most
recently served as the President of the Education Group of Houghton
Mifflin Harcourt, the largest K-12 education company in the United
States. Mr. Lavelle will replace David J. Vander Zanden, who announced
in the Spring of 2011 his intention to retire. Mr. Vander Zanden will
remain on the Company's Board of Directors.

During his 11-year term at Houghton Mifflin Harcourt, Mr. Lavelle
served in a number of leadership positions with increasing levels of
complexity and scope, and led the efforts to acquire and combine
several leading industry brands to form the largest K-12 education
company in the United States. In his most recent position, Mr. Lavelle
was responsible for operations and approximately 90% of Houghton
Mifflin Harcourt's revenues spanning U.S. and international markets.
Mr. Lavelle also previously served as President of the K-12 and
Elementary Divisions of Houghton Mifflin Harcourt. Prior to working at
Houghton Mifflin Harcourt, he was the Chief Financial Officer of John
Zink Company, a portfolio company of Koch Industries.

"Mike is a strategic leader with a proven ability to build and grow
brands, bring new products to the market, develop innovative products
and capitalize on digital platforms to successfully drive brand
awareness," said Terry Lay, Chairman of the Board of Directors of
School Specialty, Inc. "With the combination of his strong education
industry background, leadership capabilities, financial experience and
ability to build strong management teams, we determined that Mike would
be the best person to lead School Specialty in the quickly changing
education industry."

"We would also like to thank Dave Vander Zanden for his many
contributions to School Specialty over the last 13 years. We look
forward to continuing to serve with him on the Board and wish him well
in retirement," said Lay.

"I am very excited to join School Specialty to lead the next phase of
evolution and growth. I look forward to working with the Company's
leadership team and talented employees to build on its strong brands
and continue to position School Specialty as a leader in the education
marketplace," said Mr. Lavelle.

Pursuant to his employment agreement, Mr. Lavelle is entitled to
receive grants of restricted stock and options. Due to limitations
under the 2008 Equity Incentive Plan, one of these options will be an
inducement grant to purchase 75,000 shares of the Company's common
stock. The exercise price of the option will be the closing price on
January 12, 2012. The option will become exercisable with respect to
one-third of the shares subject to the option on the date that Mr.
Lavelle purchases shares of Company common stock of the Company with an
aggregate purchase price of $400,000, and one-third on each of the
first and second anniversaries of that date, subject to Mr. Lavelle's
continued employment.

About School Specialty, Inc.

School Specialty is a leading education company that provides
innovative and proprietary products, programs and services to help
educators engage and inspire students of all ages and abilities to
learn. The company designs, develops, and provides preK-12 educators
with the latest and very best curriculum, supplemental learning
resources, and school supplies. Working in collaboration with
educators, School Specialty reaches beyond the scope of textbooks to
help teachers, guidance counselors and school administrators ensure
that every student reaches his or her full potential.

For more information about School Specialty, visit
www.schoolspecialty.com

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