Bright Horizons' International Expansion Leads to Top Level Promotions; Tocio to Become President, Lissy Executive Vice President
CAMBRIDGE, Mass.--(BUSINESS WIRE)--June 5, 2000--Bright Horizons Family Solutions (NASDAQ:BFAM) today announced promotions for two senior managers at the same time the company is experiencing unprecedented global growth through its entrance into the UK child care market. Chief Operating Officer Mary Ann Tocio will continue in her role as COO while taking on new responsibilities as President of Bright Horizons, the world's leading provider of employer-sponsored child care, early-education and work/life solutions. At the same time, Chief Development Officer David Lissy will assume the additional role of Executive Vice President of the company.
"Mary Ann and Dave have led Bright Horizons through a tremendous period of growth, positioning the company for unprecedented expansion worldwide. I can think of no better time than now to both recognize their achievements and position them to achieve greater success as we head into a new global era for employer-sponsored child care," said Chief Executive Officer Roger Brown. "This will also allow me to focus more aggressively on global strategy, client relationships, and strengthening the culture that helps us prepare children for success in school and life."
As President, Tocio becomes one of the fewer than five percent of women who hold such a position in a public company. In her new role, Tocio will dedicate herself to managing the expanding operations of the company domestically and internationally. She will also manage new global growth opportunities.
"This is an exciting time for me and for Bright Horizons Family Solutions. I could not be more enthusiastic about my new role and managing operational challenges at the same time the company grows across the country and around the world," Tocio said.
Tocio has been with Bright Horizons since 1992, where she has managed operations of the company's more than 300 Family Centers across the U.S. and around the globe. Prior to joining Bright Horizons, she had more than 15 years of experience managing multi-site service organizations and more than 20 years of experience in the health care industry. She holds an MBA from Simmons College Graduate School of Management.
As Chief Development Officer of Bright Horizons, David Lissy has been responsible for overseeing the company's business development and client services teams. In his additional role as Executive Vice President, Lissy will manage all growth and marketing functions, the consulting practice, real estate development, strategic acquisitions functions, and the National Access Program for the company worldwide. He will also continue to develop flexible programs to meet clients' needs for attracting and motivating top talent. Lissy has built and rapidly expanded the company's national sales, client services, and consulting team. Under his leadership, Bright Horizons has continued to grow its core business at a rapid pace while finding new and innovative ways to meet client needs.
"With new clients, such as Cisco Systems, Sun Microsystems and Charles Schwab, expanding relationships with clients such as Motorola, Chase Manhattan Bank, and Johnson & Johnson, and our new ability to meet client needs globally, we are in a unique position to find innovative ways to serve our clients. I look forward to even greater growth in the years to come," Lissy said.
Bright Horizons also announced that Hal Cato, one of the company's top client services team members, will take on the position of Director of UK Client Services. Working from the company's London office, Cato will spearhead sales and client relations in the UK market. Cato, who also founded the not-for-profit Bright Horizons Foundation for Children, will remain as the foundation's Executive Director.
"As Mary Ann and Dave take on new responsibilities for the operations of the company, I am eager to ensure that we make the best strategic choices for growth and better ways to serve children, families and employers. There are great opportunities ahead for us to enhance our position as the partner of choice for global child care and work/life services. We intend to build upon the reputation we have developed for high quality and innovation, as witnessed by our 97.8 percent parent satisfaction rate, and help our clients create the best places to work in the U.S. and around the world," said Brown.
Bright Horizons Family Solutions
Bright Horizons Family Solutions (www.brighthorizons.com) is the world's leading provider of employer-sponsored child care, back-up care, early education and work/life solutions. The company operates more than 309 Family Centers in 35 US states, Europe, and the Pacific Rim. Bright Horizons serves more than 250 clients, including 75 of the Fortune 500 and 45 of the "Best Companies to Work For in America" as designated by Working Mother magazine. Bright Horizons clients include Motorola, Cisco Systems, the United Nations, Chase Manhattan Bank, Pfizer, the PGA Tour, Sun Microsystems, Citigroup, Boeing, Johnson & Johnson, Universal Studios and Duke University.
This press release contains forward-looking statements, which involve a number of risks and uncertainties. Bright Horizons Family Solutions' actual results may vary significantly from the results anticipated in these forward-looking statements as a result of certain factors, including the ability of the Company to execute contracts relating to new commitments and to expand and operate effectively and profitably in the international market, as well as other factors that are discussed in detail in the Company's filings with the Securities and Exchange Commission, including the "Risk Factors" section in the Company's Annual Report on Form 10-K for the year ended December 31, 1999.
CONTACT: Bright Horizons Family Solutions
Ilene Hoffer, (617) 577-8020 ext. 1044