HERNDON, Va.--(BUSINESS WIRE)--Feb. 13, 2018--
K12 Inc. (NYSE: LRN), a technology-based education company and leading
provider of online curriculum and school programs for students in pre-K
through high school, announces that Nathaniel A. Davis was appointed by
the Board of Directors as the Company’s Chief Executive Officer, and
will remain Chairman of the K12 Board of Directors.
Davis joined the K12 Board of Directors in 2009. He has served as
Chairman of the Board since June 2012 and as Executive Chairman since
January 2013. Davis previously served as K12’s Chief Executive Officer
from January 2014 through February 2016.
Stuart Udell resigned as Chief Executive Officer and as a member of the
Company’s Board of Directors effective March 2, 2018, due to the Board’s
decision to redefine his responsibilities.
“Stuart has been instrumental in establishing a strong foundation that
will allow K12 to prosper for years to come and we have enjoyed an
exceptional working relationship,” said Davis. “Our company will
continue to develop best-in-class personalized learning technologies,
ensuring academic excellence is the top priority for teachers, school
administrators, and the students we serve. In addition, our Board has
asked me to focus on a long term acquisition and business development
strategy that puts our cash to use improving shareholder returns.”
During his tenure, Udell was instrumental in strengthening the
organization, its operations, and its academic programs. He played a
critical role in changing the go-to-market approach for the Fuel
Education brand, setting the business up to drive growth in the
institutional marketplace over the long term. He brought a critical
focus to the student learning experience through targeted acquisitions
and curriculum innovation.
“Excluding the impact of the severance amounts as provided in Mr.
Udell’s employment agreement, K12 is reaffirming its financial guidance
for both the third quarter and full year of fiscal year 2018,” said
Davis. “We are right where we need to be at midyear to achieve our
objectives for fiscal year 2018 and beyond.”
About K12 Inc.
K12 Inc. (NYSE: LRN) is driving innovation and advancing the quality of
education by delivering state-of-the-art, digital learning platforms and
technology to students and school districts across the globe. K12’s
curriculum serves over 2,000 schools and school districts and has
delivered millions of courses over the past decade. K12 is a company of
educators providing online and blended education solutions to charter
schools, public school districts, private schools, and directly to
families. The K12 program is offered through more than 70 partner public
schools, and through school districts and public and private schools
serving students in all 50 states and more than 100 countries. More
information can be found at K12.com.
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Source: K12 Inc.
K12 Inc.
Investor and Press Contact:
Mike Kraft,
571-353-7778
VP Finance and Communications
mkraft@k12.com