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Article: Career Education Corporation Addresses Dissident's Plans to Launch a Proxy Contest; Company Remains Confident of Its Governance Policies and Strategies to Create Shareholder Value.
- Article from:
- Business Wire
- Article date:
- February 11, 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 commented on dissident Steve Bostic's announced plans to launch a proxy contest to elect three directors at the company's 2006 annual meeting of shareholders.
"Our management and independent board of directors have taken significant actions over the past year to strengthen corporate governance, regulatory compliance and improve operating performance," said John Larson, Chairman and CEO of Career Education Corporation. "We were therefore disappointed by today's announcement by Mr. Bostic, especially in the wake of Mr. Bostic's recent supportive comments about our latest round of governance ...