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Ron McCray Elected Chairman Of The Board Of Career Education Corporation

Stocks in this article: CECO

Career Education Corporation (NASDAQ: CECO), a provider of postsecondary education programs and services, today announced that board member Ron McCray was elected Chairman by the company’s Board of Directors. McCray replaces David Devonshire, who remains a member of the Board of Directors, but who did not seek another term as Chairman so he could better attend to personal matters.

“Career Education has made tremendous progress over the past year with Scott Steffey as president and CEO. I’m looking forward to working closely with him and supporting him as we continue moving the company forward,” McCray said.

Steffey added, “I’ve had an excellent working relationship with David, as well as with Ron. This transition will be smooth and Ron and I will continue our strong working relationship on meaningful objectives that advance Career Education’s academic and financial objectives, with student success at the core of our company’s success.”

Ron McCray has been a director of CEC since November 2012. A private investor and corporate director, McCray serves on the governing boards of Harvard Law School, Southern Methodist University’s Dedman School of Law and Cornell University, where he serves on the presidential search committee, the executive committee and the finance committee. He also serves on the governing boards of newspaper publisher A. H. Belo, where he is the chairman of the compensation committee, a member of the audit committee and finance committee, and EveryWare Global, Inc., where he serves on the audit committee.

In 2011, President Barack Obama nominated McCray and the U.S. Senate confirmed him to be a member of the Federal Retirement Thrift Investment Board. He previously served on the board of directors of newspaper publisher Knight Ridder, Inc. and Kimberly-Clark de Mexico S.A. de CV. He is also a member of the Council on Foreign Relations and a minority owner of the Boston Celtics NBA franchise.

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