R. H. Donnelley Corrects Errors Made About CEO's Resume
Posted September 11, 2006
CARY, N.C. — Yellow pages publisher R.H. Donnelley has made corrections in two press releases that incorrectly stated its chief executive officer earned a degree from St. Cloud University.
In a statement issued Monday morning, Donnelley (NYSE: RHD) said that the releases have been corrected to note that CEO David Swanson attended the school from 1973-1976 but "did not earn a degree".
The corrections came after media reports last week raising questions about Swanson's education.
In its statement, Donnelley said the company had received an anonymous letter raising questions about Swanson's education.
The press releases were issued in 1999 and 2002. An older version of the company's website also contained the erroneous information, Donnelley said in a statement.
"The company has determined that this error has never appeared in any document filed with the SEC or the NYSE," the firm said in a statement. "R.H. Donnelley is also conducting a thorough search to identify and correct any other instances where this error may have occurred."
Donnelley said Swanson's original employment application "accurately states that he attended but did not graduate".
"This is a regrettable situation for which I accept full responsibility," Swanson said in the firm's statement. "I will work closely with R. H. Donnelley's Board and members of the management team to ensure that we have proper internal and external controls on information dissemination so that this inaccurate information does not appear again."
Donnelley is the third largest publisher of yellow pages advertising and has more than 4,000 employees in 28 states. The company moved its headquarters to Cary from New York in 2004.