XanEdu announces leadership changes, appoints Chad Bonney as Chief Executive Officer

Livonia, MI – April 5, 2022

XanEdu announced today that its Board of Directors has appointed Charles (Chad) Bonney as Chief Executive Officer, effective April 1, 2022. John DeBoer will transition to a role on the Company's Board of Directors.

Bonney has held numerous transformational leadership roles for Cengage Learning both domestically and internationally, including VP of Finance, SVP, COO, CFO of Global Business, and, most recently, Senior Vice President and General Manager for International Higher Education. Bonney holds a B.A. in Government and Spanish from Bowdoin College and an MBA from the University of Georgia.

"XanEdu has been on an impressive growth trajectory since its inception," says Bonney. "I am excited to be a part of their talented leadership team as we work together to grow their portfolio of educational products and services that effectively address the increasing complexities that surround education."

Bonney succeeds John DeBoer who will transition to a role on XanEdu's Board of Directors. DeBoer served as XanEdu's CEO where he led consistent revenue growth and multiple acquisitions that have been instrumental in the Company's building of a robust portfolio in the education space.

Ty Field, XanEdu's Executive Chairman stated, "XanEdu's growth has been significant under John's tenure. He has successfully led the company as it navigated acquisitions, market changes and impressive year-over-year growth. We look forward to John's continued expertise and advisement as a member of the XanEdu Board." Field went on to say, "As we look to the future of XanEdu we are fortunate to have an experienced and dynamic leader like Chad join our team to guide the continued growth and expansion of our educational portfolio."

About Xanedu

XanEdu has been increasing student engagement and enhancing learning outcomes since 1999 by delivering innovative solutions across the K-12 and Higher Education communities. We address our clients' unique needs through customized curriculum and publishing services at any scale while maintaining our commitment to affordability and accessibility for all stakeholders. XanEdu is a privately held company headquartered in Livonia, MI. For more information, please visit xanedu.com.

About Frontenac

Frontenac is a Chicago-based private equity firm. The firm focuses on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with established operating leaders, through an executive-centric approach called CEO1ST, which seeks to identify, acquire, and build market-leading companies through transformational acquisitions and operational excellence. Over the last 50+ years, Frontenac has built a leading franchise working with over 275 owners of mid-sized businesses as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit frontenac.com.

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