Despite the ongoing investigation into ProQuest’s financial filings, the president of ProQuest’s Information and Learning division, David “Skip” Prichard, was upbeat about the company’s activities and its connections with customers. He said that, despite the challenges, it’s actually been an exciting time for him, because he’s focused so closely on traveling around and talking with customers. “Staying close to our customers is key,” he said.
Prichard joined the company in 2003 and became president in October 2005. He said the company is not cutting back on its product development—more than $50 million has been allocated for the year. “We have plans well into 2007 and beyond,” he said. He pointed proudly to some of the ongoing digitization projects and some of the newer products, such as Historical Annual Reports (see Marydee’s earlier post about this).
As for the investigation, he said that the independent study commissioned by the audit committee of the company’s board was “weeks away” from providing a report. He then said a final restatement of finances possibly could be made in the late fall. While Prichard doesn’t minimize the seriousness of the situation, he said he was pleased that his team found the problems and reported them.
Paula J. Hane
News Bureau Chief
Information Today, Inc.