SCHAUMBURG, Ill.--(BUSINESS WIRE)--
Career Education Corporation (NASDAQ: CECO), a provider of postsecondary
education programs and services, today announced the appointment of
experienced financial leader Reid E. Simpson as Senior Vice President
and Chief Financial Officer. He replaces Colleen O’Sullivan who is
leaving the organization, but will remain available for consultation to
Mr. Simpson through the end of June to ensure a smooth transition.
“Hiring someone of Reid Simpson’s caliber underscores the extent to
which we have strengthened our financial position over the past year and
are now looking into the future,” said Scott Steffey, President and CEO
of Career Education. “Reid has a deep understanding of private sector
higher education and is a seasoned Chief Financial Officer, having been
a CFO in the public sector multiple times before joining Career
Education. His vast experience in finance, with the investment community
and leading finance organizations will be useful to Career Education as
we transition from turnaround to growth once again. I look forward to
Reid joining our senior leadership team and to the breadth of experience
he will bring to this critical role.”
Steffey added: “Colleen O’Sullivan has been a great asset to Career
Education for more than six years. In addition to her role as the Chief
Financial Officer, Colleen served as the company’s corporate controller
and chief accounting officer. She helped us enormously in getting our
cost structure aligned with our student population and was a critical
leader during an especially challenging period for this organization.
I’d like to thank her for all she has done for Career Education, and
wish her nothing but the best.”
Before joining Career Education, Mr. Simpson was Senior Vice President
and Chief Financial Officer of the then NASDAQ-listed Asset Acceptance
Capital Corp. and was instrumental in the sale of the company to Encore
Capital Group in 2013.
Mr. Simpson’s career includes a variety of senior financial leadership
roles in both publically- and privately-held businesses, including CFO
positions at Aircell (now Gogo Inc.), eCollege (then a NASDAQ-listed
provider of value-added services to the post-secondary and K-12
education markets) and CCC Information Services Inc. He also worked at
The Signature Group, Delphi Information Systems Inc. and spent 16 years
with The Dun & Bradstreet Corporation.
During the past seven years, Mr. Simpson was a Board member and Audit
Committee member for Helix Education, Inc. (formerly named Datamark
Inc.), a provider of marketing, enrollment, retention and learning
solutions for higher education. He holds a Bachelor of Science in
Accounting from Michigan State University.
About Career Education Corporation
The colleges, institutions and universities that are part of the Career
Education Corporation (“CEC”) family offer high-quality education to a
diverse student population in a variety of career-oriented disciplines
through online, on-ground and hybrid learning program offerings. In
addition to its online offerings, Career Education serves students from
campuses throughout the United States offering programs that lead to
doctoral, master’s, bachelor’s and associate degrees, as well as to
diplomas and certificates.
CEC’s institutions include both universities that provide degree
programs through the master or doctoral level and colleges that provide
programs through the associate or bachelor level. The University group
includes American InterContinental University (“AIU”) and Colorado
Technical University (“CTU”) – predominantly serving students online
with career-focused degree programs that meet the educational demands of
today’s busy adults. The Career Schools group offers career-centered
education primarily through ground-based campuses and includes
Briarcliffe College, Brooks Institute, Harrington College of Design, Le
Cordon Bleu North America (“LCB”), Missouri College and Sanford-Brown
Institutes and Colleges (“SBI” and “SBC,” respectively). Through its
colleges, institutions and universities, CEC is committed to providing
high-quality education, enabling students to graduate and pursue
rewarding career opportunities.
A detailed listing of individual campus locations and web links to
Career Education’s colleges, institutions and universities can be found
at www.careered.com.
Career Education Corporation
Mark Spencer, 847-585-3802
[email protected]
Source: Career Education Corporation