BOSTON, Dec. 22, 2016 /PRNewswire/ -- Global
learning company Houghton Mifflin Harcourt (HMH) today announced
that Daniel Allen, the president and
a partner of Anchorage Capital Group, L.L.C., has been appointed to
HMH's board of directors, bringing the board's membership to nine
directors.
"We are pleased to welcome Dan to HMH's board," said
Larry Fish, chairman of the board of
directors, HMH. "With 25 years of financial industry experience, he
possesses extensive knowledge of capital markets and will be an
invaluable asset to our team moving forward."
"Alongside his expertise in portfolio and risk management, Dan
brings a proven leadership record, deep insight in corporate
governance and sharp business acumen," said Gordon Crovitz, interim CEO of HMH. "I look
forward to his involvement in HMH's future growth and
evolution."
"I'm honored to join HMH's board. I have great respect for the
company's mission and vision, and I am eager to continue and
complement the board's strong work on behalf of the company and its
customers, employees and shareholders," said Allen.
Allen is a partner at Anchorage Capital Group, L.L.C. and serves
as its president and senior portfolio manager. His responsibilities
include overseeing the firm's portfolio management, risk management
and investment decisions. Prior to joining Anchorage, he held
positions at Morgan Stanley and Goldman Sachs. He holds an M.B.A.
from Duke University's Fuqua School of Business and a B.S. from
Skidmore College, where he serves as a
member of the Board of Trustees.
Anchorage is the investment manager to HMH's largest
shareholder, which beneficially owns approximately 16.62% of HMH's
common stock, taking into account shares to be acquired upon
exercise of warrants. Allen's appointment is pursuant to a
nomination agreement between HMH and the Anchorage
shareholders.
About Houghton Mifflin Harcourt
Houghton Mifflin Harcourt
(NASDAQ:HMHC) is a global learning company dedicated to changing
people's lives by fostering passionate, curious learners. As a
leading provider of pre-K–12 education content, services, and
cutting-edge technology solutions across a variety of media, HMH
enables learning in a changing landscape. HMH is uniquely
positioned to create engaging and effective educational content and
experiences from early childhood to beyond the classroom. HMH
serves more than 50 million students in over 150 countries
worldwide, while its award-winning children's books, novels,
non-fiction, and reference titles are enjoyed by readers throughout
the world. For more information, visit www.hmhco.com.
Follow HMH
on Twitter, Facebook and YouTube.
Media Contact
Bianca Olson
SVP, Corporate Affairs
617-351-3841
bianca.olson@hmhco.com
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SOURCE Houghton Mifflin Harcourt