River Grove, Ill., (February 2, 1998) -- Follett Corporation, the leading provider of products and services to the education market, today announced that it is aligning its companies under three groups representing the market segments they serve. The groups, Higher Education, Elementary/High School and Library, will be headed by the newly appointed Group Presidents, James W. Baumann, Christopher D. Traut and Ross C. Follett respectively.
"The Group structure ensures that the companies serving common markets operate under a more cohesive vision and approach, bringing a wider range of services and increased benefits to every customer," said Kenneth J. Hull, president of Follett Corporation. "At the same time, the structure allows each company to maintain its independence and preserves the entrepreneurial spirit under which Follett companies have traditionally operated."
The Library Group consists of Follett Library Resources and Book Wholesalers, Inc. The Higher Education Group includes Follett College Stores, Custom Academic Publishing Company, Follett Campus Resources and all distance learning initiatives. The Elementary/High School Group encompasses Follett Educational Services, Follett Software Company and Library Systems and Services.
Follett also announced a new technology initiative, headed by Charles (Chuck) R. Follett Jr. The technology initiative will create and foster a corporate-wide vision and strategy to ensure its approach to technological innovation is coordinated and strategic, with a particular emphasis on the digital delivery of intellectual property.
The corporate realignment will take effect in early April 1998, and also includes the appointment of Mark Litzsinger as vice chairman.
"I am very excited by the opportunities this realignment will offer our customers. Within each group, the Follett companies will have access to greater resources and they will now share a single vision -- contributing to the excellence of each and every one of our customers," said Richard M. Traut, chairman. "Vision, commitment and cooperation are the keys to reinforcing our position as the leader in each of the market segments we serve."
Through its various companies, the 125-year-old Follett Corporation is the leading distributor of educational materials, the largest producer of academic coursepacks, the leader in school library automation, the largest distributor of school library books and the number one operator of college bookstores in the nation.
