SCHAUMBURG, Ill.--(BUSINESS WIRE)--
Career Education Corporation (NASDAQ: CECO), a provider of postsecondary
education programs and services, today announced that Todd Nelson has
been selected to become its President and Chief Executive Officer. Mr.
Nelson is expected to join the Company on August 12, 2015 and will also
be appointed to the Career Education Board of Directors.
“Todd has deep industry experience which will help continue and enhance
our focus on improving student outcomes as we drive our University
business forward,” said Ron McCray, Chairman and Interim CEO of Career
Education. “We look forward to his contributions to the Company’s
restructuring efforts aimed at supporting educational excellence and
accelerating our path to profitability and sustainable growth, led by
our adaptive learning technology.”
Mr. Nelson’s career includes leadership of several of the largest
education companies in the US. He served as Chief Executive Officer and
a director of Education Management Corporation, where he ultimately
served as Chairman of the Board. Prior to his service at Education
Management Corporation, Mr. Nelson held several roles of increasing
responsibility at the University of Phoenix and Apollo Group Inc. (now
known as Apollo Education Group, Inc.), including serving as the
Chairman, President and Chief Executive Officer of Apollo. While under
his leadership, both companies experienced enrollment and financial
growth, development and implementation of new programs and acquisitions
of additional schools and programs.
Mr. Nelson said: “Career Education stands at an exciting inflection
point in the Company’s history. I look forward to joining the
experienced management team at Career Education and working with them to
improve student outcomes at both American InterContinental University
and Colorado Technical University. I am very excited to lead the Company
through its transformation given its highly respected online University
platform and well-formed path to cash generation and profitability.”
Ron McCray, Chairman and Interim CEO, will maintain his role as Chairman
of the Board upon the relinquishment of his Interim CEO responsibilities
when Mr. Nelson’s employment with the Company commences.
“Ron led the Company through its strategic decision to exit its Career
Colleges business, to right-size its corporate overhead and to
streamline its operations in order to focus its resources and attention
on its University business,” said Thomas Lally, Career Education’s Lead
Independent Director. “The Board appreciates Ron’s service to the
Company and thanks him for his efforts in creating a path forward for
the Company’s strategic transformation.”
About Career Education Corporation
Career Education’s academic institutions offer a high-quality education
to a diverse student population in a variety of disciplines through
online, on-ground and hybrid learning programs. Our two universities –
American InterContinental University (“AIU”) and Colorado Technical
University (“CTU”) – provide degree programs through the master’s or
doctoral level as well as associate and bachelor’s levels. Both
universities predominantly serve students online with career-focused
degree programs that meet the educational demands of today’s busy
adults. AIU and CTU continue to show innovation in higher education,
advancing new personalized learning technologies like their intellipath™
adaptive learning platform that allow students to more efficiently move
toward earning a degree by receiving course credit for knowledge they
can already demonstrate. Career Education is committed to providing
high-quality education that closes the gap between learners who seek to
advance their careers and employers needing a qualified workforce.
A listing of individual campus locations and web links to Career
Education’s institutions can be found at www.careered.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150731005262/en/
Investors:
Alpha IR Group
Chris Hodges or Sam Gibbons,
312-445-2870
[email protected]
or
Media:
Career
Education Corporation
847-585-2600
[email protected]
Source: Career Education Corporation