- After less than two years in the position
- Thanks and good wishes for Hurst
- Todd Nelson taking over
(exechange) — Schaumburg, Illinois, November 17, 2023 — Andrew Hurst, chief executive of Perdoceo, leaves his position. As announced by Perdoceo Education Corp. in a news release and in a regulatory filing published on Friday, November 17, 2023, Andrew H. Hurst has left his post as chief executive officer at the provider of postsecondary education programs, after less than two years in the role, effective November 15, 2023.
Generally speaking, it raises questions when a CEO leaves his post abruptly and after a short tenure.
Andrew Hurst’s duties as CEO will be taken over by Todd Nelson, a former Chief Executive Officer at Perdoceo Education Corp.
“Increased regulatory volatility and economic complexity”
Perdoceo did not give an explicit reason for Andrew Hurst’s departure from the CEO post. Gregory L. Jackson, the Board’s current Lead Independent Director, who was named Chairman of the Board, stated: “The Board and I are very pleased to have someone with Todd’s deep industry knowledge and years of experience back leading Perdoceo during this period of increased regulatory volatility and economic complexity and I look forward to continuing our work together.”
Precise information regarding Andrew Hurst’s future plans was not immediately available.
“Resigned”
Perdoceo said: “Andrew Hurst resigned as President and Chief Executive Officer of Perdoceo and as a director of the Company, effective November 15, 2023. The Board accepted Mr. Hurst’s resignation and also approved a decrease in the size of the Board from nine to eight members.”
“Did not involve any disagreement”
Perdoceo stated, regarding the change: “Mr. Hurst’s decision to resign from the Board did not involve any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.”
Share price increase since January 2022
The announcement follows an increase in Perdoceo Education Corp.’s share price of 50% since January 2022. January 2022 is the month in which Hurst’s tenure as CEO began.
In the position of CEO since 2022
Andrew Hurst became CEO of the Company in 2022.
Hurst became President and Chief Executive Officer of the Company in January 2022 and also joined the Board at that time.
Hurst joined the Company in April 2014 as President of Colorado Technical University, and also became the Company’s Senior Vice President—Colorado Technical University in October 2015.
Hurst joined the Company from South University, where he served as Vice Chancellor for Online and Strategic Operations from March 2013 to March 2014.
Prior to his Vice Chancellor position at South University, Hurst served from July 2012 to March 2013 as Vice President of Academic Operations for Education Management Corporation, supporting Argosy University, South University and the Art Institutes.
Hurst first joined South University in 2004 as Vice President of Online, responsible for the initial development and growth of the university’s online programs.
He later served in a similar role for Argosy University.
Hurst began his higher education career in the early 1980s and held a variety of cross-functional leadership roles supporting distance education programs for traditional not-for-profit universities, such as Graceland University, Saint Joseph’s College, Upper Iowa University and Indiana Institute of Technology. Hurst received a Bachelor of Science degree from the McIntire School of Commerce at the University of Virginia.
No statement by Andrew Hurst
In the release announcing his departure as CEO of Perdoceo Education Corp., Andrew Hurst received thanks and good wishes.
The announcement of his departure as CEO does not include a statement by Andrew Hurst.
Push-out Score for Andrew Hurst’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Andrew Hurst was pushed out or felt pressure to leave his position.
Read the full story in the exechange report 47.2023 ($).