Edward A. Snyder Not Standing For Re-election to Career Education Corporation Board of Directors
March 17 2011 - 5:30PM
Business Wire
Career Education Corporation (CEC) (NASDAQ: CECO), a global
provider of post-secondary education programs and services,
announced today that Edward (Ted) A. Snyder has decided not to
stand for re-election to the company’s board of directors.
Previously the dean of the University of Chicago Booth School of
Business, now on academic leave from the university for the 2010-11
school year, Snyder will become dean of the Yale School of
Management on July 1, 2011. Snyder joined the CEC board in March
2008. He was dean of the Chicago Booth School of Business from July
2001 to June 2010.
“I am excited about the opportunity to lead the Yale School of
Management. At the same time, I recognize that my new
responsibilities will require a high level of effort and will
entail a demanding schedule – especially in the next few years. For
this reason, I do not have sufficient time to serve on the CEC
board going forward,” Snyder said. “I’ve enjoyed my role on CEC’s
board of directors and have learned greatly from the experience. It
is clear to me that career-focused private sector education is an
important component to developing our nation’s human capital.”
Snyder will continue serving until the company’s annual
shareholder meeting on May 19, at which point the total number of
board seats will be reduced by one to eight. All other current
company directors have been nominated for re-election.
“Ted has brought invaluable counsel at a critical time to our
board. His background as an economist and an academic, as well as
his experience here in Chicago leading one of the world’s most
respected graduate schools of business, provided us with unique
perspectives,” said Steven H. Lesnik, chairman of the board. “I
hope Ted will still occasionally offer us his thoughts on the role
of private sector education in our society. We wish Ted well as he
embarks on an exciting new challenge at Yale.”
Gary E. McCullough, president and chief executive officer of CEC
added, “Ted has been a strong director. I valued the wisdom he
brought to our board over the critical past three years. I wish to
thank him for his commitment to our company, our schools and our
students.”
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 116,000
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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