VistaPrint Adds George Overholser to Board of Directors
Press release from the issuing company
LEXINGTON, Mass.--Dec. 15, 2004-- VistaPrint, the leading graphic design agency and printer serving the small business and consumer markets, announced today that George Overholser, former vice president of strategy and new business development for Capital One, has joined its board of directors.
"George's proven ability to drive impressive growth companies is a key asset as we continue to reinforce our leadership position in the short-run, full-color printing market and leverage our tremendous opportunities in the graphic design market," stated Robert Keane, chairman, president and chief executive officer of VistaPrint. "George is a valuable addition to an already strong board."
Mr. Overholser, a member of Capital One Financial Corporation's founding management team, is an expert in helping companies grow. During his tenure at Capital One, first as head of strategy/new business development, and subsequently as founder of Capital One's venture capital operation, Capital One's earnings grew by over 20% each year - more than ten-fold over the ten-year period. Presently, Mr. Overholser continues to serve as a part-time strategic advisor to Capital One and other for-profit growth companies. He spends the balance of his time working to establish a capital market that serves the nonprofit sector. Prior to 1994, Mr. Overholser was a Principal at Mercer Management Consulting, Inc., where he participated in a wide range of strategy consulting assignments. He graduated from Harvard University with a degree in Physics and received an M.B.A. from the Stanford Graduate School of Business.
VistaPrint offers extremely low prices on graphic design services and short-run printing while still realizing print gross margins that exceed 50% and are more than two times greater than the industry average for commercial printers. The Company has processed more than 6.5 million orders since launching in May 2000 and currently produces more than 10,000 unique print orders per day. VistaPrint, which has been profitable since mid-2001, has experienced a compounded annual growth rate of more than 90% over the past four years.
"I have been particularly impressed with VistaPrint's commitment to innovation, a hallmark of a hyper growth company," stated Mr. Overholser. "I am looking forward to working with the board members who have already inspired so much success to help the company achieve its obvious potential."
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