Appointment of New CEO Randy Hendricks



KEY POINTS
  • After a comprehensive executive search, Zovio’s board announced that it has appointed Randy Hendricks as Zovio Inc’s new Chief Executive Officer.
  • Randy brings extensive client-focused leadership experience in the higher education industry having served as a Senior Executive assisting higher education institutions at the Huron Consulting Group and as President of Workday’s Education and Government verticals.
  • Randy also brings a strong track record of turnaround achievements through focused execution, from multiple leadership roles at IBM Global Business Services unit as well as experience in managing large, long-term outsourcing relationships.
  • While the Zovio Growth businesses have continued to perform well so far in 2021, Zovio needs improvement in the business execution of the UAGC contract. Although not unexpected, the first year since the sale and formation of UAGC has been challenging.
  • We believe the board has identified in Randy a new CEO that comes with the right mix of experience and leadership qualities to accelerate the significant potential that UAGC can create for the benefit of all its stakeholders, including its students, the University of Arizona, and Zovio.
COMPANY OVERVIEW

Zovio is an education technology company headquartered in Chandler, Arizona. It provides services to universities to help them manage distance-learning programs. These include program development, marketing, and student monitoring and retention. Its largest university partner is The University of Arizona Global Campus, with about 30,000 students enrolled. Zovio also provides specific services directly to students and in partnership with universities and schools, such as Fullstack Academy (coding and computer security training), and TutorMe (tutoring services).

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