Career Education Corporation announces plans for divestitures of selected schools

Career Education Corporation (NASDAQ: CECO) recently announced its decision to sell several of its schools and campuses, including the nine campuses that comprise the Gibbs division; McIntosh College; the two campuses belonging to Brooks College (Long Beach and Sunnyvale) and Lehigh Valley College.

“As Career Education positions itself for the future, we will be better targeting our business strategy and concentrating our resources on those areas where we have the greatest competitive advantage, the highest levels of expertise and proven success,” said Bob Dowdell, Career Education’s interim president and chief executive officer. “We believe that the net result of these decisions will be a stronger operation and a more effective focus on what we do best: preparing students for careers they are passionate about through our high-quality boutique schools, our gold-standard brands and our flexible, student-centered product offerings.”

Career Education will continue to invest in the schools throughout the divestiture process, including strengthening educational programming and services to students and continuing its support of faculty and staff. “Each of these schools is valuable and important in its local community and has real future potential,” said Dowdell. “We are confident that they will flourish under new ownership.”

About Career Education Corporation
The colleges, schools and universities that are part of the Career Education Corporation (CEC) family currently offer high-quality education to approximately 100,000 students across the world in a variety of career-oriented disciplines. The 80-plus campuses that now serve these students are located throughout the U.S. and in Canada, France and the United Kingdom. They offer doctoral, master’s, bachelor’s and associate degrees and diploma and certificate programs. Many students attend the fully online educational platforms offered by American InterContinental University Online and Colorado Technical University Online.

Career Education is an industry leader whose gold-standard brands are recognized globally. Those brands include, among others, Le Cordon Bleu Schools North America, Harrington College of Design, Brooks Institute of Photography, Katharine Gibbs Schools, American InterContinental University, Colorado Technical University, and Sanford-Brown Institutes and Colleges. The mission of CEC, through its schools, educators and employees is education – its primary goal is to enable students to graduate successfully and pursue rewarding careers.

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