Ron McCray Elected Chairman Of The Board Of Career Education Corporation

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.

McCray previously served as the Chief Administrative Officer of Nike, Inc., with responsibility for strategic leadership and for oversight of various businesses and administrative functions. Prior to joining Nike, he served as chief legal officer of manufacturer Kimberly-Clark Corporation, with global responsibility for strategic leadership as well as legal, internal audit, compliance and other administrative functions. He practiced corporate, securities and finance law at Weil, Gotshal & Manges and Jones Day. After graduating from Cornell University, McCray attended Harvard Law School, where he served as the editor and business manager of the Harvard Civil Rights/Civil Liberties Law Review.

About Career Education Corporation

The colleges, institutions and universities that are part of the Career Education Corporation (“CEC”) family offer high-quality education to a diverse student population in a variety of career-oriented disciplines through online, on-ground and hybrid learning program offerings. In addition to its online offerings, Career Education serves students from campuses throughout the United States offering programs that lead to doctoral, master’s, bachelor’s and associate degrees, as well as to diplomas and certificates.

CEC’s institutions include both universities that provide degree programs through the master or doctoral level and colleges that provide programs through the associate or bachelor level. The University group includes American InterContinental University (“AIU”) and Colorado Technical University (“CTU”) – predominantly serving students online with career-focused degree programs that meet the educational demands of today’s busy adults. The Career Schools group offers career-centered education primarily through ground-based campuses and includes Briarcliffe College, Brooks Institute, Harrington College of Design, Le Cordon Bleu North America (“LCB”), Missouri College and Sanford-Brown Institutes and Colleges (“SBI” and “SBC,” respectively). Through its colleges, institutions and universities, CEC is committed to providing high-quality education, enabling students to graduate and pursue rewarding career opportunities.

A detailed listing of individual campus locations and web links to Career Education’s colleges, institutions and universities can be found at www.careered.com.

Copyright Business Wire 2010

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