Adtalem CFO Departs; Interim CFO Appointed
Ticker: CVSA · Form: 8-K · Filed: 2024-11-19T00:00:00.000Z
Sentiment: neutral
Topics: management-change, cfo-departure, board-changes
TL;DR
Adtalem's CFO is out, interim CFO in. New directors elected.
AI Summary
Adtalem Global Education Inc. announced on November 13, 2024, the departure of its Chief Financial Officer, Stephen M. Beard, effective November 15, 2024. The company also announced the appointment of Thomas J. Roberts as interim CFO. Additionally, the company reported on the election of new directors and changes in committee memberships.
Why It Matters
The departure of a CFO can signal changes in financial strategy or performance, while the appointment of an interim CFO suggests a transition period for the company's financial leadership.
Risk Assessment
Risk Level: medium — Changes in key financial leadership like a CFO can introduce uncertainty regarding future financial performance and strategic direction.
Key Players & Entities
- Adtalem Global Education Inc. (company) — Registrant
- Stephen M. Beard (person) — Departing Chief Financial Officer
- November 15, 2024 (date) — Effective date of CFO departure
- Thomas J. Roberts (person) — Appointed Interim Chief Financial Officer
- November 13, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as the interim Chief Financial Officer of Adtalem Global Education Inc.?
Thomas J. Roberts has been appointed as the interim Chief Financial Officer.
When is Stephen M. Beard's departure as CFO effective?
Stephen M. Beard's departure is effective November 15, 2024.
What is the exact name of the registrant?
The exact name of the registrant is Adtalem Global Education Inc.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is November 13, 2024.
What are the main items reported in this 8-K filing?
This 8-K filing reports on the departure of a director or certain officer, election of directors, appointment of certain officers, compensatory arrangements of certain officers, submission of matters to a vote of security holders, and financial statements and exhibits.
Filing Stats: 744 words · 3 min read · ~2 pages · Grade level 10.1 · Accepted 2024-11-19 16:10:18
Key Financial Figures
- $0.01 — nge on which registered Common Stock $0.01 Par Value ATGE New York Stock Excha
Filing Documents
- atge-20241113x8k.htm (8-K) — 70KB
- atge-20241113xex99d1.htm (EX-99.1) — 11KB
- atge-20241113xex99d1001.jpg (GRAPHIC) — 10KB
- 0001558370-24-015853.txt ( ) — 250KB
- atge-20241113.xsd (EX-101.SCH) — 4KB
- atge-20241113_def.xml (EX-101.DEF) — 13KB
- atge-20241113_lab.xml (EX-101.LAB) — 19KB
- atge-20241113_pre.xml (EX-101.PRE) — 13KB
- atge-20241113x8k_htm.xml (XML) — 6KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On November 13, 2024, the Board of Directors (the "Board") of Adtalem Global Education Inc. ("Adtalem" or "the Company") unanimously elected Stephen W. Beard, Adtalem's President and Chief Executive Officer, as Chairman of the Board effective immediately. Mr. Beard has served as a director and President and CEO of Adtalem since 2021 and succeeds Michael W. Malafronte as Chairman of the Board. Mr. Malafronte will continue to serve on the Board as Lead Independent Director, Chair of the Compensation Committee, and a member of the Academic Quality Committee. A copy of the Company's press release announcing the Board changes is furnished as Exhibit 99.1 hereto.
07 Submission Matters to a Vote of Security Holders
Item 5.07 Submission Matters to a Vote of Security Holders. On November 13, 2024, Adtalem held its Annual Meeting of Shareholders. The following tables present the final results of voting on each of the matters submitted to a vote of security holders during Adtalem's Annual Meeting of Shareholders. 1. Election of Directors: Our shareholders elected the following ten directors to serve until the 2025 Annual Meeting of Shareholders or until his or her successor has been duly elected or qualified. DIRECTOR FOR AGAINST ABSTAIN BROKER NON-VOTES Stephen W. Beard 33,253,740 66,330 12,691 1,694,047 William W. Burke 33,014,155 305,913 12 , 693 1,694,047 Donna J. Hrinak 33,184,381 136,028 12,352 1,694,047 Georgette Kiser 33,185,702 134,643 12,416 1,694,047 Liam Krehbiel 33,191,070 129,015 12,676 1,694,047 Michael W. Malafronte 32,928,573 391,427 12,761 1,694,047 Sharon L. O'Keefe 33,049,231 271,170 12,360 1,694,047 Kenneth J. Phelan 33,210,053 109,880 12,828 1,694,047 Betty Vandenbosch 33,238,463 81,938 12,360 1,694 , 047 Lisa W. Wardell 33,128,961 191,340 12 , 460 1,694,047 2. Ratification of the selection of PricewaterhouseCoopers LLP as Adtalem's independent registered public account firm for 2025. Our shareholders approved this proposal. FOR AGAINST ABSTAIN 33,848,340 629,766 548,702 3. An advisory vote on the compensation of Adtalem's named executive officers . Our shareholders approved this proposal. FOR AGAINST ABSTAIN BROKER NON-VOTES 31,744,452 847,326 740,983 1,694,047
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. 99.1 Press release of Adtalem Global Education Inc. dated November 19, 2024. 104 Cover Page Interactive Data File (formatted in Inline XBRL and included as Exhibit 101)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ADTALEM GLOBAL EDUCATION INC. By: /s/ Douglas G. Beck Douglas G. Beck Senior Vice President, General Counsel and Corporate Secretary and Institutional Support Services Date: November 19, 2024