Career Education Corporation Announces Certified Voting Results Confirming Election of Its Board Nominees; Corporate Governance
June 12 2006 - 6:00PM
Business Wire
Career Education Corporation (NASDAQ:CECO) today announced that IVS
Associates, Inc., the independent inspectors of election, has
delivered certified voting results from the company's 2006 annual
meeting of stockholders. The report confirms the preliminary voting
results announced by the company at the annual meeting: the
company's board nominees, Patrick W. Gross, Steven H. Lesnik and
Keith K. Ogata, have all been reelected to the board. The breakdown
of the certified voting results for each director nominee is
outlined below. The company also said its proposals to phase in a
declassified board and to allow stockholders to call special
meetings of stockholders with two-thirds affirmative vote were
approved, as was the appointment of Ernst & Young LLP as the
company's independent auditors. On average, CEC's board candidates
received approximately 40% more votes than the dissident slate. "We
are pleased that the certified results from IVS demonstrate that
our stockholders supported the company's board nominees by a
significant margin," said John M. Larson, Chairman, President and
Chief Executive Officer. "We believe the results further
substantiate the fact that we have the right strategy, along with a
strong management team and board, to continue moving the company
forward and creating value for stockholders." -0- *T Certified
results of voting with respect to the election of directors:
----------------------------------------------------------------------
Nominees For Withheld -------- --- -------- Keith K. Ogata
46,310,693 2,940,352 Patrick W. Gross 46,271,321 2,979,724 Steven
H. Lesnik 46,269,955 2,981,090 James E. Copeland, Jr. 34,423,827
170,878 R. William Ide 34,406,022 188,683 R. Steven Bostic
29,452,049 5,142,656 *T About Career Education Corporation The
colleges, schools and universities that are part of the Career
Education Corporation (CEC) family offer high quality education to
more than 95,000 students across the world in a variety of
career-oriented disciplines. The 80-plus campuses that serve these
students are located throughout the U. S., Canada, France, the
United Kingdom, and the United Arab Emirates and offer doctoral,
master's, bachelor's, and associate degrees and diploma and
certificate programs. Approximately one third of students attend
the web-based virtual campuses of American InterContinental
University Online and Colorado Technical University Online. Career
Education is an industry leader whose gold-standard brands are
recognized globally. Those brands include, among others, the Le
Cordon Bleu Schools North America; the Harrington College of
Design; the Brooks Institute of Photography; the Katharine Gibbs
Schools; American InterContinental University; Colorado Technical
University and Sanford-Brown Institutes and Colleges. The mission
of CEC, through its schools, its educators, and its employees is
education--their primary goal, to enable students to graduate
successfully and pursue rewarding careers. For more information,
see www.careered.com. The company's website also has a detailed
listing of individual campus locations and web links for its
80-plus colleges, schools and universities.
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