0001193125-12-286724.txt : 20120628 0001193125-12-286724.hdr.sgml : 20120628 20120628090057 ACCESSION NUMBER: 0001193125-12-286724 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20120628 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120628 DATE AS OF CHANGE: 20120628 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAREER EDUCATION CORP CENTRAL INDEX KEY: 0001046568 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 363932190 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23245 FILM NUMBER: 12930941 BUSINESS ADDRESS: STREET 1: 231 N. MARTINGALE ROAD CITY: SCHAUMBURG STATE: IL ZIP: 60173 BUSINESS PHONE: 8477813600 MAIL ADDRESS: STREET 1: 231 N. MARTINGALE ROAD CITY: SCHAUMBURG STATE: IL ZIP: 60173 8-K 1 d374206d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): June 28, 2012

 

 

Career Education Corporation

(Exact Name of Registrant as Specified in Charter)

 

 

 

Delaware   0-23245   36-3932190

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

231 N. Martingale Rd., Schaumburg, IL   60173
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code: (847) 781-3600

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 8.01. Other Events.

On June 28, 2012, Career Education Corporation (the “Company”) issued a press release announcing the appointment of Daniel J. Hurdle as the Company’s Senior Vice President and Chief Career Schools Officer, a copy of which is attached as Exhibit 99.1, and the information contained therein is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit

Number

  

Description of Exhibits

99.1    Press release of the Company dated June 28, 2012

 

2


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

CAREER EDUCATION CORPORATION
By:   /s/ Jeffrey D. Ayers
 

 

  Jeffrey D. Ayers
  Senior Vice President, General Counsel and
  Corporate Secretary

Dated: June 28, 2012

 

3


Exhibit Index

 

Exhibit

Number

  

Description of Exhibits

99.1    Press release of the Company dated June 28, 2012

 

4

EX-99.1 2 d374206dex991.htm PRESS RELEASE OF THE COMPANY DATED JUNE 28, 2012 Press Release of the Company dated June 28, 2012

Exhibit 99.1

 

LOGO

 

        

CONTACT:

Mark Spencer

847.585.3802

mdspencer@careered.com

Career Education Corporation Appoints Daniel Hurdle as

Senior Vice President & Chief Career Schools Officer

Hurdle Leads Consolidated Career Education Schools of Culinary, Health, and Art & Design Institutions

Schaumburg, Ill., June 28, 2012 – Career Education Corporation (CEC) (NASDAQ: CECO), a global provider of postsecondary education programs and services, today announced the hiring of Daniel J. Hurdle as Senior Vice President, Chief Career Schools Officer. Hurdle leads the new, consolidated Career Schools Education Group, encompassing more than 70 culinary, health, and art & design education campuses serving more than 40,000 students across the United States. Hurdle’s role will better position these institutions to deliver academic service excellence to a broad and diverse student population, compete more effectively in the higher education marketplace and help successfully execute the company’s current business plans and strategies.

Hurdle brings a successful operating and strategic background to the task of consolidating the company’s career-focused schools, as well as considerable experience with complex business turnarounds. Hurdle will lead efforts to gain synergies and greater competitive advantage from fewer, more focused institution brands. Hurdle has a proven track record of driving quality service and high customer satisfaction as part of turning around several operations. His experience and expertise will be key to the long-term success of the company’s career academic institutions.

Hurdle joins CEC from Caribou Coffee Company, the second largest premium coffeehouse in the United States, where he most recently served as Senior Vice President, Retail. Hurdle led Caribou’s more than 580 coffeehouses, including all company-operated and franchise locations in the U.S., as well as international franchise stores. In roles at Caribou, he significantly improved customer satisfaction, leading to the company’s recognition as a JD Power Service Excellence Award winner. Hurdle developed new product strategies that turned the company from rapidly declining sales to experiencing healthy growth – skills that should benefit the student experience and institutional excellence at CEC’s career schools.

Previously, Hurdle served as Senior Vice President, Strategy and Business Development, at Washington Mutual, where he led the financial institution’s development and execution of new growth strategies for multiple business and functional groups. Hurdle earlier served as Vice President of Strategy, Food and Existing Stores portfolio at Starbucks Coffee Company. He dramatically improved operational excellence, consumer appeal and customer demand for food offerings of the world’s largest coffeehouse chain, doubling Starbucks’ food sales per store. Hurdle led development and implementation of successful strategies resulting in double-digit growth in comparable stores sales.

Hurdle gained early experience at McKinsey & Company, the global management consulting firm. Before launching his successful business career, Hurdle led extensive and mission critical operations management as a Nuclear Submarine Officer in the United States Navy. Hurdle holds a master’s degree in Management Science from Cambridge University, where he was a Marshall Scholar, and a B.S. degree in Control Engineering from the U.S. Naval Academy, graduating second in his class.


 

LOGO

“Dan knows how to reshape an organization to better serve customers, and to generate growth in doing so,” said Chairman, President and CEO Steven H. Lesnik. “His strong operational and marketing experience positions him well to lead the new, consolidated Career Services Education Group to optimize our student offerings and better define and differentiate our school brands, consistent with our strategic plans. I’m highly confident he will drive our career institutions back on a course of success, service and growth.”

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 population of approximately 95,000 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, 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”); 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.

Except for the historical and present factual information contained herein, the matters set forth in this release, including statements identified by words such as “will,” “anticipate,” “believe,” “plan,” “expect,” “intend,” “should,” “potential” and similar expressions, are forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on information currently available to us and are subject to various assumptions, risks, uncertainties and other factors that could cause our results of operations, financial condition, cash flows, performance, business prospects and opportunities to differ materially from those expressed in, or implied by, these statements. Except as expressly required by the federal securities laws, we undertake no obligation to update or revise such factors or any of the forward-looking statements contained herein to reflect future events, developments or changed circumstances, or for any other reason. These risks and uncertainties, the outcomes of which could materially and adversely affect our financial condition and operations, include, but are not limited to, the following: changes in enrollment, student mix and average registered credits taken by students; our ability to implement effective cost reduction strategies; our continued compliance with and eligibility to participate in Title IV Programs under the Higher Education Act of 1965, as amended, and the regulations thereunder (including the “90-10 Rule” and gainful employment regulations), as well as regional and national accreditation standards and state regulatory requirements; our ability to obtain accrediting agency approvals for existing or new programs and to successfully defend litigation and other claims brought against us; rulemaking by the U.S. Department of Education and increased focus by the U.S. Congress and governmental agencies on for-profit education institutions; and changes in the overall U.S. or global economy. Further information about these and other relevant risks and uncertainties may be found in CEC’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and its subsequent filings with the Securities and Exchange Commission.

###

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