SPOKANE, Wash., July 11, 2012 (GLOBE NEWSWIRE) -- Ambassadors Group, Inc. (Nasdaq:EPAX), a leading provider of educational travel experiences and online education research materials, today announced that its Board of Directors unanimously approved an amendment to the Company's Certificate of Incorporation to declassify the Board. For the amendment to go into effect, it will also require the approval of stockholders who own a majority of the Company's issued and outstanding common stock at the 2013 Annual Meeting.
Currently, the Board is divided into three classes and each director is elected for a three-year term. If the stockholders approve the amendment at the 2013 Meeting, the Board will be declassified and all directors will stand for election annually beginning with the 2013 Meeting.
James Kalustian, Chairman of the Board of Ambassadors Group said, "We have a strong, experienced board with meaningful perspective from our long-standing board members, complemented by the fresh viewpoints brought by the most recent additions. Consistent with our dedication to upholding the highest standards of corporate governance, we believe that immediate declassification of the board is in the best interest of all stakeholders. This action further demonstrates our commitment to executing on the strategies in place to return Ambassadors Group to a growth path."
About Ambassadors Group, Inc.
Ambassadors Group, Inc. (Nasdaq:EPAX) is a socially conscious education company located in Spokane, Washington. Ambassadors Group, Inc. is the parent company of Ambassador Programs, Inc., World Adventures Unlimited, Inc. and BookRags, Inc., an educational research website. The Company also oversees the Washington School of World Studies, an accredited travel study and distance learning school. Additional information about Ambassadors Group, Inc. and its subsidiaries is available at www.ambassadorsgroup.com. In this press release, "Company", "we", "us", and "our" refer to Ambassadors Group, Inc. and its subsidiaries.
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CONTACT: Company Contact: Anthony Dombrowik (509) 568-7800 Investor Relations: Stacy Feit Financial Relations Board (213) 486-6549