Career Education Corporation Announces Realignment of Resources
November 02 2010 - 4:05PM
Business Wire
Career Education Corporation (NASDAQ: CECO) today announced the
creation of the Shared Services Group to further leverage the
company’s size and optimize functional expertise in the delivery of
quality education and student outcomes. This realignment of
resources will aid in driving greater consistency, efficiency and
effectiveness in common services across the organization. The group
will report to Mike Graham, Executive Vice President and Chief
Financial Officer.
As part of the realignment, Career Education Corporation will
reorganize its University Strategic Business Unit (SBU). A number
of the services currently provided by the University SBU to
American InterContinental University (AIU), Colorado Technical
University (CTU) and the Art & Design institutions will be
delivered by the Shared Services Group in accordance with existing
service agreements.
The creation of a broader, enterprise-wide Shared Services
Group, performing many of the same services centralized under the
University SBU, provides the opportunity to remove a layer of
management in the University SBU and enables Gary E. McCullough,
President and Chief Executive Officer, to work more closely with
the individual leaders of the institutions that comprised the
University SBU. As a result, Deborah Lenart, Senior Vice President,
University SBU, will leave the company.
These changes are consistent with Career Education Corporation’s
goal of continuing to manage costs while simultaneously investing
in key areas to support achievement of its long-term
objectives.
About Career Education Corporation
The colleges, schools and universities that are part of the
Career Education Corporation (“CEC”) family offer high-quality
education to a diverse student population of more than 118,000
students across the world in a variety of career-oriented
disciplines through online, on-ground and hybrid learning program
offerings. The more than 90 campuses that serve these students are
located throughout the United States and in France, Italy, the
United Kingdom and Monaco, and offer doctoral, master’s, bachelor’s
and associate degrees and diploma and certificate programs.
CEC is an industry leader whose institutions are recognized
globally. Those institutions include, among others, American
InterContinental University (“AIU”); Brooks Institute; Colorado
Technical University (“CTU”); Harrington College of Design; INSEEC
Group (“INSEEC”) Schools; International University of Monaco
(“IUM”); International Academy of Design & Technology (“IADT”);
Istituto Marangoni; Le Cordon Bleu North America (“LCB”); and
Sanford-Brown Institutes and Colleges. Through its schools, CEC is
committed to providing high-quality education, enabling students to
graduate and pursue rewarding career opportunities.
For more information, see CEC’s website at www.careered.com. The
website includes a detailed listing of individual campus locations
and web links to CEC’s colleges, schools, and universities.
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