Troy Anderson
to Depart from the Company; Christine Kline Appointed Interim
CFO
PHOENIX, Sept. 10,
2024 /PRNewswire/ -- Universal Technical Institute, Inc., a leading
workforce solutions provider, today announced that Troy Anderson has resigned as Executive Vice
President and Chief Financial Officer, effective October 11, 2024, to accept a position at another
public company. Christine Kline,
Chief Accounting Officer, has been appointed interim CFO while a
national search is conducted for a replacement.
"Troy has been a key player in the first stage of our company's
transformative North Star Strategy, which included two
acquisitions, building two new campuses, and multiple program
launches. In addition, he led the reorganization of our Finance
function and successfully executed many financial transactions that
have built value for our shareholders," said Jerome Grant, Chief Executive Officer,
Universal Technical Institute, Inc. "We
are grateful for Troy's outstanding contributions which have helped
make the company larger, stronger, and healthier."
Mr. Grant continued, "Until a new CFO is hired, I'm pleased to
share that Christine Kline will
become interim CFO and report to me. Since joining the company over
four years ago, Christine has distinguished herself as an
innovative and talented senior leader who has supported the
development of the company's multi-divisional financial
function."
Recently, Universal Technical
Institute, Inc. announced the second phase of its North Star
Strategy to accelerate the company's mission to close the skilled
workforce gap in America. The core tenets of the strategy—growth,
diversification and optimization—are the foundation for initiatives
across the company's two divisions of Universal Technical Institute (UTI), which offers
transportation, skilled trades, and energy education programs; and
Concorde Career Colleges, which specializes in the dental, nursing,
and allied health professions.
"As we move toward the end of our fiscal year and beyond, we are
keenly focused on implementing our North Star Strategy, which we
expect to significantly increase our company's value through
revenue growth of 10 percent and expanded Adjusted EBITDA margin of
nearly 20 percent through fiscal 2029—all while continuing to
maintain extraordinary student and employer outcomes," said Mr.
Grant.
For more information about Universal
Technical Institute, Inc., visit investor.uti.edu.
About Universal Technical
Institute, Inc.
Universal
Technical Institute, Inc. (NYSE: UTI) provides students
with the practical skills and knowledge required by employers.
Founded in 1965, the company has grown into a national network of
campuses offering programs through its two divisions of UTI and
Concorde Career Colleges. The UTI division focuses on
transportation, skilled trades and energy education programs. The
Concorde division specializes in nursing, dental and allied health
professions. Under the leadership of CEO Jerome Grant, UTI is recognized for its
excellence in career education and its impact on workforce
development. For more information,
visit www.uti.edu or www.concorde.edu, visit us on
LinkedIn at @UniversalTechnicalInstitute and @Concorde Career
Colleges, or on X (formerly Twitter) @news_UTI or
@ConcordeCareer.
Media Contact:
Susan Aspey
saspey@uti.edu
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SOURCE Universal Technical
Institute, Inc.