Education Management Corporation Announces New Chairman And New Chief Executive Officer
Education Management Corporation (NASDAQ: EDMC) announced that John R. McKernan, Jr., will step down as Chairman of its Board of Directors, effective August 15, 2012. He will remain a member of the Company's Board of Directors.
Mr. McKernan has served as the Company's Chairman since June 2006. He was Chief Executive Officer from 2003 to 2007.
The Board of Directors has named Todd S. Nelson, currently Chief Executive Officer, to succeed Mr. McKernan as Chairman of the Board of Directors, while Edward H. West, currently President and Chief Financial Officer, will become the Company's new Chief Executive Officer. Mr. Nelson has been Chief Executive Officer since February 2007, and Mr. West has served as Chief Financial Officer since June 2006 and President and Chief Financial Officer since December 2008.
Randall Killeen, the Company's Vice President – Controller, will serve as acting Chief Financial Officer upon Mr. West's appointment as Chief Executive Officer.
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