Universal Technical Institute, Inc. Announces Board Changes
April 01, 2020 at 09:03 am EDT
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Mr. Roger Penske has informed Universal Technical Institute, Inc. of his decision to resign from its Board of Directors, effective March 30, 2020. Mr. Penske indicated that his departure did not reflect any disagreement with the Company. On March 31, 2020, on the recommendation of the Board’s Nominating and Corporate Governance Committee, the Board appointed Mr. George Brochick as a Class II director of the Board, with an appointment to serve until the Company’s 2021 annual meeting of stockholders. The Board has affirmatively determined that Mr. Brochick is independent under the applicable rules and regulations of the Securities and Exchange Commission and the listing standards of the New York Stock Exchange. Concurrently with his appointment as director, Mr. Brochick was also appointed to serve on the Board’s Audit Committee, Nominating and Corporate Governance Committee and its Government Affairs and Public Policy Committee.
Universal Technical Institute, Inc. is a workforce solutions provider of transportation, skilled trades and healthcare education programs. Its segments include Universal Technical Institute (UTI) and Concorde Career Colleges (Concorde). UTI segment operates 16 campuses located in nine states and offers a range of degree and non-degree transportation and skilled trades technical training programs under brands, such as Universal Technical Institute, Motorcycle Mechanics Institute and Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology. UTI also offers manufacturer specific advanced training programs, including student-paid electives, at its campuses and manufacturer or dealer-sponsored training at certain campuses and dedicated training centers. Concorde segment operates 17 campuses located in eight states and online, offering degree, non-degree, and continuing education programs in the allied health, dental, nursing, patient care and diagnostic fields.