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Laureate Education Announces Changes to Its Board Of Directors

11/12/2018


Baltimore, Dec. 11, 2018 (GLOBE NEWSWIRE) ­­– Laureate Education, Inc. (NASDAQ: LAUR), the global leader in higher education, today announced that Douglas L. Becker, Chairman of the Board of Directors, will step down from the board effective December 31, 2018.  The Board of Directors has appointed current Lead Independent Director, Kenneth W. Freeman, Dean Emeritus of the Questrom School of Business at Boston University, to succeed Mr. Becker as Chairman, effective January 1, 2019.  Additionally, following the successful completion in November of the public offering of Laureate’s Class A common stock by Laureate’s controlling stockholder, Wengen Alberta, Limited Partnership, and as required by Wengen Alberta’s governing documents, Quentin Van Doosselaere announced his departure from the Board of Directors effective immediately. 

Mr. Becker founded Laureate Education in 1989 and retired as Chief Executive Officer at the end of 2017. Under Mr. Becker’s leadership, Laureate grew from one university to the largest global network of higher education institutions. Mr. Becker was the architect of the company’s mission to deliver high quality, affordable higher education and led the company’s successful conversion to a Public Benefit Corporation in 2015.

Eilif Serck-Hanssen, Laureate’s Chief Executive Officer, stated, “Doug’s remarkable vision and passion for Laureate and his untiring commitment and devotion to our mission will define his legacy and help guide the Company for years to come. On behalf of our management team and the Board of Directors I want to thank Doug for his invaluable leadership, devotion, and friendship.” Serck-Hanssen added, “While all of us will miss Doug’s many contributions, we are thrilled to have Ken take on this new appointment. Ken’s proven track record of success at the highest levels of both education and business, including his many years as Chairman and CEO of Quest Diagnostics, make him the ideal leader to chair our Board of Directors.”

Mr. Becker stated, “Over the past year since Eilif took on the CEO position, I have been proud to support him and Laureate in my role as non-executive Chairman. Under Eilif’s leadership, Laureate has rapidly implemented a bold plan to focus Laureate’s resources on the core countries in which it has achieved the greatest scale and strongest market position. I believe that this plan will be successful and that Laureate’s values—putting students first and ensuring that society benefits from our presence―will be preserved. I have decided it is now time to conclude my service on Laureate’s Board of Directors to allow me to focus on new endeavors. As Laureate’s founder, I will always retain a deep passion for and commitment to this very special company, and I am excited for its future.”