Reuters: Global Markets: Career Education finance chief resigns; shares fall

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Career Education finance chief resigns; shares fall Aug 21st 2012, 22:19 Tue Aug 21, 2012 6:19pm EDT (Reuters) - For-profit education company Career Education Corp (CECO.O) said Michael Graham, its CFO of five years, has resigned, sending its shares down 8 percent after the bell. The company said Graham will be replaced by Colleen O' Sullivan, previously chief accounting officer, effective immediately. U.S. for-profit education providers have been under pressure in the last several quarters after they tightened admission policies to meet stricter regulatory requirements aimed at reducing student debt. O' Sullivan, who has also been with Career Education for almost five years, has previously worked with Hewitt Associates, Sears Holdings and Arthur Andersen. The company's shares, which traded at about $17 just over 10 months ago, were down at $3.44 in post-market trade. They closed at $3.74 on the Nasdaq on Tuesday.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions