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Article: Career Education Corporation Adopts Additional Measures to Strengthen Corporate Governance; Directors Vote to Declassify Board and Enable Stockholders to Call a Special Meeting; Adopt Majority Vote Standard for Election of Directors.
- Article from:
- Business Wire
- Article date:
- February 2, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOFFMAN ESTATES, Ill. -- Career Education Corporation (NASDAQ:CECO) today announced its Board of Directors has approved additional enhancements in corporate governance to serve the long-term interest of all stakeholders.
The new measures are in addition to a series of corporate governance enhancements already adopted and announced during the past year by the company, including terminating the Shareholder Rights Plan in August 2005 and recently appointing two new independent directors to its Board, Leslie Thornton and Patrick Gross. Currently, seven out of nine Career Education directors are independent under SEC and NASDAQ rules. The company also previously ...