PITTSBURGH, Sept. 21, 2015 /PRNewswire/ -- Education Management Corporation (EDMC) announced today that Board of Directors Chairman Mark A. McEachen has been named President and Chief Executive Officer of the organization, effective Sept. 28.
McEachen joined the company earlier this year as Chairman of the Board of Directors, and he most recently was a member of the company's Office of the Chairman, which assumed the responsibilities of the CEO following the departure of Edward H. West on Aug. 28. McEachen has a 30-year record as a corporate leader; he served most recently as President and CEO of Dolan Company, a provider of business information and professional services.
"I am excited to take the decisive steps EDMC must make to meet its commitment to students at EDMC's education systems," said McEachen. "Working with an extremely dedicated team at EDMC and its education systems, we will make EDMC a leader in taking accountability for student outcomes and position our 100,000 students to succeed in their chosen careers."
McEachen is also a member of the Board of Directors of BJ Restaurants, Inc. (BJRI), Edmentum, Inc., and Town Sports International Holdings Inc., and previously was on the board of DexMedia.
"With a proven record of success leading companies in multiple industries and his work with EDMC as its Chairman, Mark brings both a passion for education and experienced leadership to EDMC," said EDMC Director Kermit Cook. "On behalf of the board, we look forward to continuing to work with Mark to ensure EDMC and its schools meet the commitments they have made to their students."
McEachen brings to EDMC financial and operational experience in both private and public companies in a variety of areas, including information technology, legal, human resources procurement, manufacturing, engineering, sales and all financial disciplines. Prior to leading Dolan Company, McEachen was Executive Vice President, Chief Operating Officer and Chief Financial Officer of Freedom Communications, Inc., a broadcast television and newspaper/magazine media company, from April 2010 to July 2012 and Executive Vice President from July 2012 to June 2013. He joined Freedom Communications in 2009 in the role of Chief Financial Officer. McEachen has also served as Chief Financial Officer at Fabrik, Inc., BridgeCo Inc., where he also served as Interim Chief Executive Officer, Excite@Home, and Transamerica Financial.
About Education Management Corporation
Education Management Corporation (www.edmc.edu) provides post-secondary education in North America through four education systems — The Art Institutes, Argosy University, Brown Mackie Colleges, and South University – totaling 110 locations in 32 U.S. states and Canada. The company offers academic programs to students through campus-based and online instruction, or through a combination of both. The company is committed to offering quality academic programs and strives to improve the learning experience for its students. Its educational institutions offer students the opportunity to earn undergraduate and graduate degrees and certain specialized non-degree diplomas in a broad range of disciplines, including media arts, health sciences, design, psychology and behavioral sciences, culinary, business, fashion, legal, education and information technology.
This press release includes information that could constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements typically contain words such as "anticipates," "believes," "estimates," "expects," "intends" or similar words indicating that future outcomes are not known with certainty and are subject to risk factors that could cause these outcomes to differ significantly from those projected. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Some of the factors that could cause actual results to differ materially include, but are not limited to: the ability to realize the anticipated benefits of the company's recent debt restructuring; changes in the overall U.S. or global economy; changes in enrollment or student mix; student retention; the company's ability to maintain eligibility to participate in Title IV programs; changes in government spending; increased or unanticipated legal and regulatory costs; success of cost-cutting initiatives and growth strategies; changes in accreditation standards; government and regulatory changes including revised interpretations of regulatory requirements that affect the postsecondary education industry; new programs and operational changes implemented in response to the "gainful employment" financial metrics; the impact of the gainful employment regulation on the company's programmatic offerings to students due to the inability of the programs to pass the debt to income tests imposed by the gainful employment regulation; and other factors discussed in the company's previous filings with the Securities and Exchange Commission, including those identified in the "Risk Factors" section of the company's Annual Report on Form 10-K. Past results of the company are not necessarily indicative of its future results. The company does not undertake any obligation to update any forward-looking statements, except as required by securities laws.
SOURCE Education Management Corporation