Frank Gatti Named a NJBIZ CFO of the Year

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Princeton, N.J. (November 19, 2010) —

Frank Gatti, Chief Financial Officer and Senior Vice President for Educational Testing Service (ETS), has been honored as a "CFO Turnaround Specialist of the Year" by NJBIZ, New Jersey's premier business news publication. The award was presented recently at the Palace at Somerset Park in Somerset, New Jersey.

The CFO of the Year awards program celebrates New Jersey's financial executives at all levels who contribute to the success of New Jersey's economic growth and stability. Finalists were selected in seven categories: Public Company, Private Company with revenues over $100MM, Private Company with revenues up to $100MM, Nonprofit CFO — Small (24 or fewer employees), Nonprofit CFO — Large (25 or more employees), Best Turnaround Specialist and Best Growth Manager. Gatti was a finalist and ultimately was the winner in the Best Turnaround Specialist category.

At a critical time in ETS's history in the late 1990s, Gatti led the Finance team in developing and implementing a three-year, $100 million turnaround strategy that returned the enterprise to financial health and sustainability, positioning the company to grow and diversify. By partnering across the company, he implemented an integrated and comprehensive financial management system that improved the quality and timeliness of business decisions.

Subsequently, Gatti also helped lead ETS's joint ventures, acquisitions, divestitures and other strategic moves in more than a dozen transactions totaling some $3 billion. Gatti also played a pivotal role in transforming the cost structure through the expanded use of technology, financial/administrative controls and accountability tied to incentives.

During his tenure, ETS's consolidated revenues more than tripled to $1.3 billion in 2010 through a combination of growth and diversification along with a global revenue portfolio that now exceeds 500 clients across numerous market segments.

"These steps — and others — helped transform ETS," says ETS President and CEO Kurt Landgraf. "We are grateful to Frank for his many contributions to the success of ETS."

Before joining ETS, Gatti served in a variety of senior financial positions at The New York Times Company. While there, it grew from primarily a single newspaper company with revenues of $400 million to a media conglomerate with revenues of $2.4 billion in 1997. He serves on the Board of Directors of Blackboard, Inc., a publicly-held software company, where he also chairs the Audit Committee and is a member of the Nominating and Governance Committee. Gatti also serves on the Board of Directors of the Princeton Chamber of Commerce.

About ETS

At ETS, we advance quality and equity in education for people worldwide by creating assessments based on rigorous research. ETS serves individuals, educational and professional institutions, foundations and numerous government agencies by providing customized solutions for teacher certification, English language learning, and elementary, secondary and post-secondary education, as well as conducting education research, analysis and policy studies. Founded in 1947, ETS develops, administers and scores more than 50 million assessments annually — including the TOEFL® and TOEIC® tests, the GRE® tests and The Praxis Series™ assessments — in more than 180 countries. www.ets.org.