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TheStreet Open House

Apollo Group Appoints John Sperling Chairman Emeritus

Stocks in this article: APOL

Apollo Group, Inc. (NASDAQ: APOL) today announced that Dr. John G. Sperling will retire as executive chairman of the company’s board of directors, effective December 31, 2012. Dr. Sperling, who founded Apollo Group in 1972, was named chairman emeritus by the board, in recognition of his tireless service and countless contributions to the company.

Additionally, the company announced that Peter V. Sperling has been elected chairman of the board of directors. Mr. Sperling, who is the son of Dr. Sperling, most recently served as vice chairman of the board, and has held numerous management roles with Apollo Group since he joined the company in 1983. Terri Bishop, executive vice president and senior advisor to the CEO of Apollo Group, was elected vice chair of the board. Both Mr. Sperling and Ms. Bishop will assume their new roles effective December 31, 2012.

“It’s nearly impossible to overstate how fully my father has devoted himself to Apollo Group and its mission since he created Apollo Group four decades ago,” said Peter Sperling.

“On behalf of every employee of Apollo Group, I express my most profound gratitude to John Sperling, for his immeasurable contributions to the betterment of society through access to high quality educational programs,” added Apollo Group CEO Greg Cappelli.

Separately, the company announced today that Matthew Carter, Jr. has been appointed to the company’s board of directors, filling an existing vacancy. Mr. Carter will serve as an independent director of the company, and will sit on the audit and finance committees of the board of directors.

Mr. Carter currently serves as president of Sprint Nextel Corporation’s Global Wholesale & Emerging Solutions business unit. Mr. Carter previously served as president of Sprint’s Boost Mobile prepaid group. Before joining Sprint, Mr. Carter held leadership and management roles with Coca-Cola, PNC Financial Services Group, Leap Wireless, Royal Bank of Canada and BellSouth Corporation.

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