Stephen Shank founded Capella Education Company, the parent company of Capella University, in 1991. In addition to his duties as chairman and CEO of Capella Education Company, he has served as chancellor of Capella University since 2001. He is also a voting director on Capella University's board of directors, having previously served as an emeritus director from 2003 to 2006, and as a voting director from 1993 to 2003. Prior to founding Capella, Shank served for 12 years as chairman and chief executive officer of Tonka Corporation. During this time, The Wall Street Transcript twice recognized Shank as the industry's most outstanding chief executive officer. Shank began his career as an attorney with the Minneapolis law firm of Dorsey & Whitney. He holds a Bachelor of Arts from the University of Iowa, a Master of Arts from The Fletcher School, a joint program of Tufts and Harvard universities, and a Juris Doctor from Harvard Law School.