On September 20, 2019, Scott P. Scharfman resigned as a director of School Specialty, Inc. Mr. Scharfman’s resignation was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Effective September 24, 2019, the Board of Directors (the “Board”) of the Company appointed Eric Yanagi to the Board. In connection with his appointment to the Board, Mr. Yanagi was also appointed to Governance/Nominating Committee and Compensation Committee of the Board. Mr. Yanagi is a Managing Director of Mill Road Capital Management LLC, an investment firm focused on investments in small, publicly traded companies, where he has worked since 2008. From 2006 to 2008, Mr. Yanagi was an investment professional at Nautic Partners, a middle-market private equity firm focused on business services, healthcare, manufacturing and media & communications. Mr. Yanagi was an investment banker in the Mergers & Acquisitions Group at Credit Suisse from 2004 to 2006. Mr. Yanagi’s experience in operating roles, principal investing, public and private boards of directors, and various capital markets provide valuable experience and perspective to the Board.
SSI Liquidating, Inc., formerly School Specialty, Inc. (SSI), is a distributor of supplies, furniture, technology products, supplemental learning products (instructional solutions) and curriculum solutions, primarily to the education marketplace. It designs, develops and provides educators with its own products and services. Its segments include Distribution and curriculum. Distribution segment offers products that include basic classroom supplies and office products, supplemental learning materials, physical education equipment and classroom technology. Curriculum segment is a PreK-12 curriculum-based publisher of products in the categories of science and reading and literacy. Through its SSI Guardian subsidiary, the Company provides curriculum, training and safety and security products for school, healthcare and corporate workplace. Its SOAR life products are a customized offering for hospitals, long-term care, therapeutic facilities, home care, surgery centers and clinics.